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Polycab Wires Pvt Ltd, the ₹4,350-crore cables and wires manufacturing company, has drawn up a plan to expand and diversify its businesses. Nikhil R Jaisinghani, a director of the company, told BusinessLine that it has invested around ₹250 crore for business growth in the current fiscal. In 2015-16, it plans to invest around ₹150 crore.
Currently, the company was in the process of entering new segments, such as optical fibre cables, solar power cables and rubber cables.
It is also entering new areas such as premium range decorative fans, LED lights, conduit pipes (for cable), switches and switchgears for housing sector.
It is establishing a fan-manufacturing unit at Roorkie in Uttarakhand, switch and switchgear units in Maharshtra at Bhiwandi and Nasik as also LED light unit in Bhiwandi.
It is also setting up four regional warehouses – at Bhiwandi, Rewari, Bangalore and Kolkata.
To promote its brand, the company has spent around ₹20 crore in 2014-15. “This would be further augmented by fresh expenditure of ₹50 crore in 2015-16,” he said.
Jaisighani said to penetrate more into the infrastructure sector, the company has also made forays into EPC contracts. “We are currently executing such a contract worth ₹450 crore in Bihar for power cables, substations and transformers,” he added.
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