Luminous Power Technologies is looking at doubling revenue to 20 percent in next fouryears from solar appliances and residential roof top products.
“The company’s inherent technological expertise has allowed to achieve 85 percent local manufacturing in products and the advantage continues in solar energy products where we are sourcing all equipments from domestic aggregator”, said Vipul Sabharwal, MD of luminous power technologies. He said that rural area is a high potential market for solar appliances and rooftop solar products.
In the last 10 years alone, Luminous has invested close to INR 1,000 crores in North India alone and it plans to significantly ramp up investments in the next three to five years in R&D to develop innovative home electrical solutions for the India market.
Sabharwal maintained that the company expect 50% of growth to come from our solar and home electrical products in the next five years.”
Northern states including Punjab, Haryana and Himachal Pradesh accounts for 22 % of growth in the last five years. Luminous Technologies’ headquarters and R&D facility are based in Haryana while Himachal Pradesh is home to six manufacturing units and the company’s largest warehouse in India. With 12000 channel partners in Punjab, Haryana and Himachal, Luminous has a far-reaching network across these states.
Sachin Bhalla, Senior Vice President, Marketing said, “In the last three decades, 95% of our products have been manufactured in North India. The special economic zone in Himachal Pradesh houses one of our largest facilities in India and employs around 3,600 people. Our investment of close to INR 1,000 crores till date in this state has not only fuelled economic growth in several ancillary industries but has also created an ecosystem that has delivered significant social impact.
Luminous Power Technologies has impacted over 1,00,000 lives through initiatives like Luminous Advanced Mentoring Programme (LAMP) and Luminous Advanced Health Initiative (LAHI). LAHI delivers accessible, affordable and quality healthcare services while LAMP empowers girls by providing access to good quality primary and higher technical education. The company is also working towards creating a qualified and skilled workforce through vocational and livelihood-linked training programmes in North India.
Source: economictimes.indiatimes
