July 12, 2013
Consumer electrical and electronics company V-Guard has invested Rs. 16 crore to double manufacturing capacity at its cable factory in Uttarakhand. The company had invested Rs 24 crore to set up the facility in Kashipur, which currently manufactures 3 lakh coils per month. With the expansion, the total capacity of the plant will increase to 6 lakh coils per month.
“The capacity enhancement is part of the company’s objective to strengthen its north and east India operations. Through this, the company will now be able to cater to the increasing demand for V-Guard cables in these regions,” the company’s Managing Director Mithun Chittilappilly said.
V-Guard aims to be one among the top four brands in India, representing quality and customer satisfaction with a pan-India presence, he added.
“Through this expansion, we aim to strengthen our footprints outside the periphery of southern markets. We also plan to venture into institutional and project segments, among others. Further, with this capacity enhancement, we will be able to produce 72 lakh coils in Kashipur factory alone, which can generate around Rs 700 crore annually. The copper processing capacity of the factory will now be 8,500 tonne per annum,” he said.
The capacity addition will result in a 100% increase in revenue for the company from cable business, Chittilappilly added.
