Socomec Innovative Power Solutions MD Meenu Singhal says that their focus might be on serving purchasers in information centres, IT, infrastructure, renewable power and business buildings. CFO Devesh Singhania is on the suitable.
Chennai-based Socomec India is making a foray into Sri Lanka and Bangladesh as a part of growth plans and is anticipating to double export income in three years, MD Meenu Singhal mentioned.
“So far, these countries were serviced by our Singapore office. Now, Sri Lanka, Bangladesh and Maldives will become part of Greater India apart from Nepal and Bhutan,” Mr. Singhal mentioned throughout a press meet.
“Till recently, the products were manufactured in India and shipped to Singapore to serve these markets. From now, it will be served by the India region as it is economical, serviceable and in quick time,” he mentioned.
According to Mr. Singhal, Socomec India is more likely to provide tailor-made made modern energy options equivalent to UPS, energy switching and monitoring options for information centres, manufacturing and course of industries, healthcare, infrastructure, business buildings and renewable power in these nations.
Socomec India is a worldwide specialist in low voltage energy administration. Its mum or dad reported income of euro 1 billion and India operations accounted for six% of it. Exports income is about 20%, mentioned CFO Devesh Singhania.
“Though the revenue from Sri Lanka and Bangladesh are less at this moment, it is bound to double in next three years,” he mentioned.
Mr. Singhal mentioned the Gurugram plant is performing at 70% capability. Anticipating good progress, the French mum or dad is within the means of enhancing capability both by acquisition, three way partnership or constructing new facility.
“We have enough space in the existing premises to build new factory. All this should happen in the three years,” he mentioned.
