Electrical goods manufacturer, V-Guard Industries Ltd on Tuesday announced the opening of two new cable factories, one each in Uttrakhand and Tamil Nadu, set up with a total investment of Rs 45 crore.
The opening of these two factories, we are expecting to capture a significant share of building wire cables sector within a span of 24 months," V-Guard Industries Ltd Managing Director Kochouseph Chittilappilly told reporters here.
The company has invested Rs 23 crore in setting up a building cables manufacturing unit in Uttrakhand and Rs 22 crore in Tamil Nadu for low tension power cable producing facility.
V-Guard has reported a revenue of Rs 289 crore in the last fiscal and is believed to be close this fiscal at Rs 320 crore. The company is expecting a turnover of Rs 410 crore in the current fiscal as the two new units would start contributing.
The two units at full capacity are collectively expected to generate a revenue of Rs 200 crore," he said.
The company is also increasing its sales and distribution network across the country to 180 from the present 125 by the end of current year. V-Guard, a Kochi-based industrial group has business interests in sectors such as water heaters, stabilisers and fans.
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