Schneider Electric India has lined up an investment of Rs 3,200 crore by 2026 to increase its footprint in the country, company’s CEO & MD Deepak Sharma said.
The investments will be made in nine states.
“In line with our growth ambitions, we have plans to invest EUR 350 million (Rs 3,200 crore) in expanding our industrial footprint with the addition of 12,00,000 square feet up to 2026. These investments are spread over Gujarat, Telangana, Karnataka, West Bengal, Odisha, Tamil Nadu, Maharashtra, Himachal Pradesh, and Uttarakhand,” Sharma said.
When asked if the investments include setting up of green capacities, he said Schneider Electric aims to become net-zero in its operations by 2030, end-to-end carbon neutral value chain by 2040, and net-zero CO2 emissions across its entire value chain by 2050.
“Our company is managing over 700 MW of renewable energy power purchase agreements and providing sustainable solutions. It includes on-site solar installations and the procurement of off-site solar and wind energy. Approximately 15 per cent of solar power installed in India runs on Schneider Electric solutions,” he said.
Company’s Luminous brand is powering 100 million consumer homes through inverters, batteries, and solar energy solutions.
“We are also supplying 1.5 million prepaid smart meters to Energy Efficiency Services Ltd (EESL) in Bihar, Haryana, and Uttar Pradesh and plan to continue the rollout of feature-rich smart meters for the projects under the revamped distribution sector scheme (RDSS) scheme,” he said.
The company’s total revenue grew by 33% from Rs. 371.98 Cr in Q1 FY23 to Rs. 497.57 Cr in Q1 FY24 and for the same period, net profits increased by 31% from Rs. 26.5 Cr to Rs. 34.9 Cr.
Currently, shares are trading 1.2% down at Rs. 337 on the NSE.
Schneider Electric India is a subsidiary of French firm Schneider Electric. The corporation operates 30 facilities in the nation. Among these, Hyderabad, Bengaluru, and Chennai each have five smart factories.
