Indo Asian Fusegear to bank on South for growth

Indo Asian Fusegear Limited on Monday announced plans to invest Rs 55 crore over the next three years in South India to expand capacity and network.

The publicly-listed company is India's leading electrical safety and energy management devices manufacturer.

"South India currently makes up around 20 per cent of our annual sales. With the level of power consumption set to increase by 100 per cent in a few years, we see a lot of potential for growth. Once the company has its 'infrastructure' in place in the South, we expect the region to contribute Rs 100 crore to our annual revenues," said V P Mahendru, chairman and managing director, Indo Asian Fusegear.

The company is betting heavily on South India because of the proliferation of huge shopping malls, multiplexes, software parks and other such establishments.

"There is bound to be a big growth in demand for energy saving devices and technology, and consequently an exponential growth in the demand for energy management devices," Mahendru added.

The company also announced a new range of energy management devices. These include intelligent devices like time switches (analog and digital), motion detectors and energy-saving lighting equipment.

Timers, another set of devices launched on the occasion, allows one to adjust the period for which the lights are on according to ones needs. These products have multiple utilities ranging from safety to energy conservation. The company hopes to sell these products to both retail and industrial consumers.

The devices to be launched include motion detectors, which can detect any movement within a radius of 14 metre using infrared rays and switch on devices.