•Q2 sales in house wire segment grew Rs. 209 Cr in current FY19 from Rs 131 Cr last yr
• Sales during H1- FY19 were reported at Rs. 389 Cr. from Rs. 236 Cr.
• Over 1300 dealers, retail sales grew to 33% of the turnover in terms of its total sales
MUMBAI, January 16, 2019 (GPN) : India’s leading house and power cable manufacturer, KEI Industries Ltd. today announced that it expects to grow35%-40% in the house wire and cable segment during the next financial year.
Riding on robust and healthy earnings for the quarter ended September 2018, the company hopes to drive on its house wires and cables segment during this fiscal period.
The company’s Q2 sales in house wire segment grew Rs. 209 Cr in current FY19 in comparison toRs. 131 Cr in the corresponding period of last financial year.
Similarly, its sales during H1- FY19 were reported at Rs. 389 Cr. from Rs. 236 Cr. Further, its sales during the H1 in the house wire swelled 64.83%over the last financial year.
Mr Anil Gupta, Chairman cum Managing Director- KEI Industries Ltd. said: “Our Company has registered a phenomenal growth in retail sales business in FY’18-19 till now. Last year it was around Rs 1086 crore and with more demand coming from the users, we are hopeful to exceed 40% in next two years. We also expect a potential growth in our house wire segment. With the new affordable housing schemes coming up and with a rise in the real estate business as the demand actual buyers for personal and official use is increasing, this has helped us to scale-up with this growing demand for house wires. KEI’s house wires also contribute to government’s vision for affordable housing as these products are being used by many developers under affordable housing schemes”.
The company is optimistic about its growing market in house wires and cables as they are energy efficient and meet the highest-level of safety for domestic and commercial usage. These cables are for the use of wiring domestic and commercial buildings. With over 1300 dealers pan India, the company’s retail sales have grown to almost 33% of their turnover in terms of its total sales.
The company in the house wires segment offersHomecab-FR which stands synonymous to safety. These cables are used for wiring domestic and commercial buildings. These cables are of utmost quality in electrical and mechanical properties along with being accredited with global standards. A fine-drawn multi strand conductor provides enhanced flexibility and makes it ideal for concealed wiring. It is suitable for installation in lighting fittings and appliances up to 1100 v (A.C). The product has higher flexibility and ensures easy handling while guaranteeing a much longer life thus attracting a new generation of real estate developers. ENDS
