New Delhi, Dec 30 (PTI) Super Plastronics Pvt Ltd (SPPL), a TV and home appliances manufacturing company having licenses of several global brands for the Indian market, targets to cross the mark of one million units of TV sales in 2025, helped by capacity enhancement, expansion of portfolio and increasing presence in offline channels, said director and CEO Avneet Singh Marwah.
The Noida-based company, which has a portfolio of global brands including, Thomson, Kodak, Blaupunkt, White-Westinghouse and White-Westinghouse (Trademark of Electrolux), plans to add licensing rights for two more global brands in the Indian market.
Besides, it also plans to enter into new categories like refrigerators and expand its play in appliances, including washing machines, coolers, and more.
“This year we are closing around 6,00,000 units of TVs, and next year’s target is 1 million,” Marwah told PTI.
The company, known for its affordable range of smart TVs in the Indian market, has a current revenue base of Rs 700 crore. A majority of its revenue comes from its TV business, which is expanding its offline presence.
SPPL market share has grown, the TV market in India has been largely flat or even there is a degrowth in some segments from last two years on account of the high base due to purchases made during the pandemic, when people were largely confined into their homes.
SPPL’s market share has grown, even as the overall TV market has remained largely flat or witnessed a decline in certain segments over the past two years on account of the high base due to purchases made during the pandemic, when people were largely confined to their homes.
Currently, French brand Thomson is the highest contributor to SPPL’s sales, followed by Kodak and other brands.
“We are in the process of bringing two more brands also,” he said, adding “Discussions are going on and we may launch them in January.” After TV, washing machine is the second biggest category for SPPL, which is about to touch a double-digit share in the online market.
“This year, we are expanding washing machines in offline channels and plan to sell around two lakh units,” he added.
SPPL, which primarily sells its products online through channel partners such as Flipkart and Amazon is also expanding offline month on month.
“Currently we are having 80 per cent of sales online and the rest 20 per cent offline, however, from next financial year we are planning to increase the contribution of offline sales ratio to 40 per cent,” he said.
Tier I market contributes around 35 per cent of revenue, while tier II & III market contributes 25 per cent and 15 per cent respectively, and the remaining 25 per cent from the rural market.
Asked about revenue growth, Marwah said SPPL expects higher growth from FY26 onwards when its new manufacturing units become operational after two years.
“Whatever investments which we have done in last two years, it will reap results after FY25 and FY26,” he said adding “By 2027, my target is to have 6-7 new manufacturing plants and we want to be one of the largest company in the consumer electronic in India, without the support IPO or private equity.” This new capacity, in turn, will also help SPPL to foray into new product categories after becoming operational.
Currently, it has 2 manufacturing units at Noida and four coming at Greater Noida, Yamuna Expressway and Hapur in Uttar Pradesh. It has invested more than Rs 100 crore at the Hapur plant.
Over IPO, Marwah said,” SPPL is a ‘ debt free’ company and has no private equity so far. Everything is self-owned and we have no plans for any IPO as of now.” PTI KRH DR
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