{"id":11561,"date":"2021-12-27T16:49:27","date_gmt":"2021-12-27T11:19:27","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-microtek-turnover\/"},"modified":"2021-12-27T17:02:08","modified_gmt":"2021-12-27T11:32:08","slug":"biz-microtek-turnover","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-microtek-turnover\/","title":{"rendered":"Microtek aims Rs 1,600 cr turnover in FY22, to raise market share in inverter to 50 pc in next 2 yrs"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3151718041\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Dec 27 (PTI) Leading power product marker Microtek aims for nearly 23 per cent growth in the current financial year with a turnover of around Rs 1,600 crore, led by its inverter and other businesses, said a top company official.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4137128553\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The company, which currently has around 40 per cent market share in the inverters and home UPSs, aims to corner around 50 per cent market share in the fast-growing segment in the next two years, said Microtek Deputy Chairman and Managing Director Saurabh Gupta.<\/p>\n<p> Besides, the company has also diversified into other segments such as e-vehicle chargers (for e-rickshaw), healthcare products &#038; solutions, solar products, stabilisers. It is currently investing around Rs 200 crore at a new plant at Baddi, Himachal Pradesh, to augment its production capacity and meet future demands.<\/p>\n<p> &#8220;In terms of turnover, we expect to touch around Rs 1,600 crore (approximately). In FY21, the figure was Rs 1,300 crore,&#8221; Gupta told PTI.<\/p><div class=\"trade-content_5\" id=\"trade-3574578801\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> For the financial year ended on March 31, 2021, Microtek&#8217;s 55 per cent revenue came from its inverter and home UPS business and the rest from other verticals, he said.<\/p>\n<p> &#8220;This (fiscal) year, we expect it to be around 50 per cent, as the contribution from other segments is growing,&#8221; Gupta added.\u00a0 \t The company presently have 10 manufacturing units in Himachal Pradesh.<\/p>\n<p> &#8220;We have a complete backwards integration. Right from wire drawing to sheet metal cabinetwork, Plastic moulding, transformer making to PCB assembly, everything is done in house,&#8221; Gupta added.<\/p>\n<p> The company has one more unit coming at Visakhapatnam, Andhra Pradesh.<\/p>\n<p> &#8220;We have also invested in the electrical division, in which we have a complete range of wire and cables and circuit protection devises like MCBs (miniature circuit breakers), distribution board and RCCBs (residual current circuit breakers),&#8221; he said.<\/p>\n<p> It now manufactures products such as infrared thermometers, oximeters, blood pressure monitor devices, nebulizers and oxygen concentrators here domestically and helped to reduce dependence on import of such devices during the pandemic, he added.\u00a0 \t &#8220;We had provided oxygen concentrators at affordable prices during the second wave,&#8221; he added.<\/p><div class=\"trade-content-10\" id=\"trade-2471913428\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> While talking about inverter and home UPS business, Microtek&#8217;s mainstay, Gupta said there is enough headroom to grow in the segment as demand from the smaller tier II &#038; III is growing as well as tier IV and below markets are now forwards. &#8220;As we move forwards, it will start penetrating more rural areas,&#8221; he added.<\/p>\n<p> The home inverter and UPS market is around Rs 2,000 crore, growing between 5 and 10 per cent annually.<\/p>\n<p> &#8220;Microtek commands around 40 per cent market share into the segment,&#8221; said Gupta adding that &#8220;we additionally aim to gain an additional market share of 10 per cent in the next two years.&#8221; \t As part of that, Microtek on Monday expanded its product portfolio into the inverter and home UPS, with the new LUXE LCD Home UPS series and imerlyn premium UPS series.<\/p>\n<p> Gupta further added Microtek had also made a foray into the healthcare products and solutions business during the first wave of the pandemic.<\/p>\n<p> Microtek, which is also present in the power storage solution business through its sister concern Okaya, one of the known players in the battery manufacturing industry, is expanding into the solar business also, Gupta said. PTI KRH  HRS hrs<\/p>\n<div class=\"trade-after-content\" id=\"trade-2982260629\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Dec 27 (PTI) Leading power product marker Microtek aims for nearly 23 per cent growth in the current financial year with a turnover of around Rs 1,600 crore, led by its inverter and other businesses, said a top company official. The company, which currently has around 40 per cent market share in the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-11561","post","type-post","status-publish","format-standard","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Microtek aims Rs 1,600 cr turnover in FY22, to raise market share in inverter to 50 pc in next 2 yrs - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-microtek-turnover\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Microtek aims Rs 1,600 cr turnover in FY22, to raise market share in inverter to 50 pc in next 2 yrs\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Dec 27 (PTI) Leading power product marker Microtek aims for nearly 23 per cent growth in the current financial year with a turnover of around Rs 1,600 crore, led by its inverter and other businesses, said a top company official. 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