KEI Industries Ltd. has announced that it expects to grow 35-40 per cent in the house wire and cable segment during the next financial year.
Riding on robust and healthy earnings for the quarter ended September 2018, the company hopes to drive on its house wires and cables segment during this fiscal period. The company’s Q2 sales in house wire segment grew to Rs.209 crore in FY19 in comparison to Rs.131 crore in the corresponding period of last financial year. Similarly, its sales during H1 of FY19 were reported at Rs.389 crore as against Rs.236 crore in the same period of FY18, implying a growth of 64.83 per cent.
Anil Gupta, Chairman & Managing Director, KEI Industries, said: “We expect a potential growth in our house wire segment. With the new affordable housing schemes coming up and with a rise in the real estate business as the demand actual buyers for personal and official use is increasing, this has helped us to scale-up with this growing demand for house wires. KEI’s house wires also contribute to government’s vision for affordable housing as these products are being used by many developers under affordable housing schemes.”
The company is optimistic about its growing market in house wires and cables as they are energy efficient and meet the highest-level of safety for domestic and commercial usage. These cables are for the use of wiring domestic and commercial buildings.
With over 1,300 dealers pan India, the company’s retail sales have grown to almost 33 per cent of the company’s total sales turnover.
The company in the house wires segment offers Homecab-FR which stands synonymous to safety. These cables are used for wiring domestic and commercial buildings. These cables are of utmost quality in electrical and mechanical properties along with being accredited with global standards. A fine-drawn multi strand conductor provides enhanced flexibility and makes it ideal for concealed wiring. It is suitable for installation in lighting fittings and appliances up to 1,100V. The product has higher flexibility and ensures easy handling while guaranteeing a much longer life thus attracting a new generation of real estate developers, a release from KEI Industries noted.
Featured phtoograph shows “Homecab-FR”, the building wire brand of KEI Industries