Bathroom fitting major Jaquar has forayed into lighting business and is targeting to turn the vertical into a Rs 1,000 crore business in the next 2-3 years, a top official said.
“We are focusing on lighting in a big way. We are planning a second lighting plant near Delhi-NCR at a cost of Rs 150 crore to scale up the business,” Promoter cum Director, Jaquar & Company, Rajesh Mehra told PTI.
According to a PTI report: The capex for FY’18 is about Rs 300 crore to expand lighting and bathroom fitting plants, he said.
“We are producing LED lights and fittings also. In FY’17, sales from lighting was just Rs 100 crore but this fiscal it will be Rs 250 crore and in the next 2-3 years it will be a Rs 1,000 crore vertical,” he was further quoted by PTI as saying.
Jaquar is a leading revenue earner for the company with 80 per cent sales coming in from the brand. While luxury brand Artize and entry & value brand Essco are getting healthy response, he said.
Despite GST hurdles, the company is aiming Rs 3,400 crore topline in the current fiscal, up from Rs 2,753 crore achieved in the FY’17.
Mehra claimed that despite presence of international brands in the country, it commands a leadership position with a marketshare of about 35 per cent.
“Now we are trying to make our brands international. We have started exporting Artize and Jaquar and hope in the next few years the international business will attain Rs 400 crore revenue,” he told PTI.
Jaquar has five plants in India of which four are for bathroom fittings and one for lighting in Manesar in Haryana.