The company aims to be a billion dollar company by 2020

August 10, 2015

Shilpi Cable Technologies which manufactures cables for telecom, auto and consumer durable segments is entering lighting market as part of its plans to raise sales to USD 1 billion by 2020. The city-based company would enter LED lighting vertical in the next quarter under the brand ‘Safe’.

The company is in the process of building sales network in business-to-consumer segment. “We are promoting Safe as a retail brand. Under this brand we have already introduced wires, switches and MCB and now we are entering LED light segment,” Shilpi Cable Technologies (SCTL) Chief Financial Office Ajay Mahajan told PTI.

Besides, Shilpi Cable Technologies Ltd (SCTL) would also continue its growth in business-to-business segment, which consists telecom, automotive and consumer durable segments. “We endeavour to be a billion dollar company (around Rs 6,370 crore) by 2020. For this along with B2B business in which we are present, we have also started servicing B2C segment by manufacturing wires and cables which can be used in local household business, thereby expanding our customer base,” said SCTL Managing Director Manish Goel.

In FY2014-15, SCTL had revenue of Rs 1,407.68 crore and it is having a year-on-year growth of around 40 per cent.