V-Guard eyes Rs 300 cr revenue from inverters by March 2018

Consumer electrical and electronics appliances maker V-Guard Industries is expecting over Rs 300 crore revenue from its inverter division by March next year, a senior company executive said today.
The company today launched 'smart' series of inverters that enable users to access its various functions from a mobile phone/device.
"The inverter division contributed Rs 220 crore last fiscal and we are expecting it to cross Rs 300 crore by March 2018," V-Guard Industries Ltd Director and Chief Operating Officer, Ramachandran Venkataraman, told reporters here.
"We sell around 4.5 lakh inverters annually. We are expecting 30 per cent of it to come through the smart inverter series this year. We expect it to further grow to 50 per cent," Ramachandran said.

The company will launch solar smart (off-grid) inverter by March 2018 and the solar smart on-grid system will be launched during next fiscal, Ramachandran added.