Century LED Ltd, the lighting company owned by Century Plyboards' promoters, is targeting revenues of Rs 100 crore in the current fiscal besides aiming to transform itself into an electronic major in the long-term.
"Our LED lighting is growing fast. We are growing at 8-10 per cent month-on-month. As a way forward, we propose to expand product portfilio and aim to establish ourselves as an electronic company in the long run," Century LED business head Anirudh Kajaria told PTI.
"We are expecting a Rs 100 crore topline in FY'18, the first full year of operation. In Kolkata, we are already the second largest LED brand by marketshare," he claimed.
Century LED, which sells Magik brand of LED products, is one of the organised players in the industry that began operations with a fully-owned manufacturing facility at a capex of Rs 45 crore in Howrah, West Bengal.
Kajaria said the company will expand capability in electronics with new products having synergies over the next few years.
In a year, the company will double its capacity to 20 million pieces a year, he said.
The company is expanding its product portfolio to strengthen institutional and industrial sales. It expects outdoor lighting applications to see faster growth in the coming years.
Currently, the lion's share of sales revenue comes from retail business.
Century LED mostly imports chipsets for the lighting business and sources the rest locally. It has presence in over 50 cities across 16 states with over 8,000 retailers.
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