Wyzr is a new brand introduced by Reliance Retail, the retail arm of Reliance Industries Limited (RIL), to disrupt the dominance of multinational companies (MNCs) in India’s consumer electronics and home appliances market.
The brand was launched with the introduction of Wyzr air coolers, and the company plans to expand the product range to include televisions, washing machines, refrigerators, air conditioners, small appliances, and LED bulbs.
Wyzr products are expected to be more affordable compared to established brands such as LG, Samsung, and Whirlpool, which currently hold a dominant position in categories like TVs, refrigerators, and washing machines
Furthermore, Reliance Retail aims to design and develop these products internally, creating a homegrown brand to compete with international labels. Reliance Retail aims to replicate the success it had in disrupting the MNC-dominated feature phone market with its product, JioPhone, in the electronics sector.
According to reports, Reliance is planning to sign manufacturing contracts with local firms to establish its own manufacturing facilities in the future once the brand secures a significant market share.
Previously, Reliance Retail sold televisions and some appliances under its brand Reconnect and these products were designed and manufactured locally by companies such as Dixon, MIRC and PG Electroplast while some were imported from China and Indonesia, produced by TCL, Midea and Toshiba.
Listed below are two stocks with which the Reliance group is in discussions to finalize manufacturing contracts:
Dixon Technologies (India) Ltd
With a market capitalization of Rs. 47,558 crores, the shares of Electronic Manufacturing Services (EMS) company started Wednesday’s trading session on a higher note at Rs. 7,819.90 compared to its previous close of Rs. 7,766.65. During the trading session, the shares hit a high of Rs. 7,957, gaining around 3 percent and are currently trading at Rs. 7,964 apiece.
Looking at the company’s financial statements, the revenue decreased by 2.5 percent from Rs. 4,943 crores during the September quarter to Rs. 4,818 crores in the December quarter. In addition, the net profits declined by 14 percent from Rs. 113 crores to Rs. 97 crores during the same period.
Dixon Technologies is a leading manufacturer of lighting products in India, with a significant market share in CFL, LED bulbs, LED TVs, and semi-automatic washing machines.
The company has a strong market position in key verticals such as the manufacturing of TVs, washing machines, LED and CFL lights, and mobile phones and has established relationships with a diverse top-tier customer base, including global and national brands and domestic retail private labels.
MIRC Electronics Ltd
With a market capitalization of Rs. 508 crores, the shares of the consumer durable goods manufacturing company started Wednesday’s trading session on a higher note at Rs. 21.95, clocking 5 percent upper circuit compared to its previous close of Rs. 20.95 apiece.
Looking at the company’s financial statements, the revenue zoomed by 52 percent from Rs. 193.23 crores during the September quarter to Rs. 294.51 crores in the December quarter. In addition, the net profits showcased a transition from a net loss of Rs. 6.43 crores to a net profit of Rs. 1.55 crores during the same period.
MIRC Electronics is a significant player in the consumer electronics and home appliances market, aiming to increase its market share across various product categories. The company primarily markets its products under the ONIDA brand across India.
Written By Vaibhav Patil
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