Orient Electric targets 15-20 per cent topline growth in FY'19

"In 2017-18, we grew by 12 per cent to Rs 1,700 crore against industry growth rate of 7-8 per cent. While, in the current fiscal, we hope to maintain strong growth at 15-20 per cent in topline," Orient Electric Senior VP and business head, fans Atul Jain said today at a press conference here.

Fans remain the company's mainstay contributing 70 per cent to the total revenue.

The company has also forayed into appliances, lighting and switchgear in the last 4-5 years.

Jain said that the company is confident of maintaining profitability in sync with its expansion during the fiscal.

On fan business, he said the company has become a leader in the premium segment with 40 per cent marketshare.

"We are targeting to take the marketshare of premium fan to 50 per cent," Jain said.

Premium fans comprise 15 per cent of total fan business of Orient while decorative is 20-25 per cent. The rest of the fan revenue comes from mass and entry segment.

"In the next 2-3 years, we expect premium and decorative fans to gain ground and command 50 per cent of the total fans business," Jain said.

He said the overall fans business in the organised sector has been growing following the implementation of Goods and Services Tax (GST) last year but competition is also getting intense.

Orient exports its fans to some 35 countries which account for 18-20 per cent of revenue but in the next 2-3 years the company expects this pie to expand to 25 per cent, Jain said.