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Witnessing a 10 per cent growth in the last few months, V-Guard Industries is all set to achieve a turnover of ₹2,500 crore in the current fiscal, top officials of the company have said. It earned a turnover of ₹2,150 crore last fiscal.
Mithun Chittilappilly, Managing Director, said on the sidelines of a function to unveil the new identity and vision of the brand that V- Guard has plans to launch a new product every three years.
The sales from switch gears, which was launched recently, have already touched ₹70 crore. There are plans to introduce modular switches and air coolers. He claimed that five of its products – stabilisers, water heaters, inverters, wires and cables and fans – are doing well by clocking a business of ₹300 crore each.
The company has initiated steps to strengthen its visibility in the kitchen segment, where it has four products, including mixer-grinders, induction tops and gas stoves. In the next five years, he said, the company will establish its presence in seven or eight categories.
V-Guard today has evolved into a pan-India consumer brand and business, emerging as one of the potential leaders in our space, said V Ramachandran, Director and COO.
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