Vashi Electricals' ever-increasing customer base is a testimonial to their commitment towards the customer and demand for their products.
In India, the size of the cable manufacturing industry is approximately Rs 40,000 crore. The government has earmarked Rs 50,000 crore (US$ 7.53 billion) to develop 100 smart cities across the country. Highway projects worth $93 billion, which include government flagship National Highways Building Project (NHDP) with a total investment of $45 billion over the next three years, have also been announced. The Digital India campaign will require an investment of Rs 450,000 crore.
The Ministry of Power is also looking at an investment of Rs 15,000 lakh crore over the next five years. 'We expect the industry's growth, which is currently at the rate of around 15 per cent, to grow at a CAGR of over 20 per cent over the next five years,' says Vijay Ahuja, Vice President-Sales, Vashi Electricals. He shares more on the industry and the company's offerings.
Power Cables led the revenues from the wires and cables market with more than 60 per cent contribution to the total market in fiscal year 2016. Growth in the wires and cables market can also be attributed to the introduction of latest technologies by manufacturers in India and swift expansion of the automated and innovative cost reducing manufacturing technologies, which have significantly improved the through output of wires and cables products. The wires and cables market in India and abroad is highly fragmented, with the presence of a number of small and medium enterprises. The organised sector manufactures high voltage durable cables, whereas the unorganised sector mainly captures the low voltage market, where products are mainly separated on the basis of price. The intensifying competition in the industry is expected to put increasing pressures on all players to maintain their market shares. Additionally, the low level of exports has also hampered the growth of this industry in India.
Vashi Electricals represent four major brands of wires and cables:
Polycab: Wires and cables
Finolex: Wires and cables
RR KABLE: Instrumentation cables
Universal: EPR and CSP cables.
The year 2017 is critical due to various factors such as the implementation of GST and demonetisation. Moreover, the growth opportunities are also tremendous. Vashi Electricals's ever-increasing customer base is a testimonial to their commitment towards the customer and demand for their products. The company now has more than 15,000 customers pan-India.
Innovation in providing world-class service is the key to the company's success. They make sure that the segments they are operate in get customised service in lines with the current requirement. Vashi Electricals support customers making sure their project is technically and commercially viable. Also, their express delivery ensures that a project is never delayed due to cable supply. The testament of the company's commitment to its customers is that more than 60 per cent of the customers are still associated with Vashi Electricals since the last 35 years.
(Communication by the management of the company)