V-Guard Industries Ltd, a consumer electrical and electronics company, is planning to set up two more manufacturing units, one for water heaters and another for manufacture of fans.
Mithun Chittilappilly, Managing Director, said: “The company’s manufacturing facility is now functioning at full capacity and we will need to set up separate manufacturing plants for water heaters and fans, both growing segments for the company and in the country.”
Speaking on the sidelines of lunch of Verano range of intelligent internet-enabled water heaters, the MD said that the location of the proposed plants is yet to be decided.
“We are evaluating locations in several States, including Telangana for setting up of these plants. We also have about 25 acres in Tamil Nadu. The decision on the new plant will be taken by next year.”
“While the water heater plant is likely to see investment of about ₹65-70 crore, the fan unit will require an outlay of ₹35-40 crore,” he told BusinessLine on the sidelines of the conference.
The diversified company, which manufactures and markets voltage stabilizers, inverters and digital UPS systems, pumps, house wiring cables, electrical water heaters, fans, solar water heaters, recently added induction cookers and switchgears.
The new smart water heaters launched today helps monitor the performance of the device, control its energy usage and warn about leakages and other malfunctions. It has an intelligent scheduler.