Finolex Cables is eyeing at least Rs 500 crore revenue from its new consumer-facing electrical accessories business by the next fiscal (FY22) when it expects total revenue to sniff past Rs 3,500 crore.
Currently, net sales from the company’s new segment, which includes a range of ceiling, table, wall, industrial heavy-duty exhaust, and multi-purpose fans, water heaters, LED- PC panels, cabinet lights and MCCBs, are only under 4 percent. The company entered the new business two years ago with a range of fans and last month it launched anti-bacteria ceiling fans, claiming it be the first in the country.
Finolex Cables is India's largest and leading manufacturer of electrical and telecommunication cables.
