Calcutta, March 29: Usha International Ltd (Usha), the Shriram group flagship, has set an ambitious target of 25 per cent growth in turnover for the next financial year over the current turnover of Rs 400 crore.
Usha managing director Sunil Wadhwa said the company should be able to cross the Rs 500-crore mark in turnover next year with a host of launches both in the fan and home appliance categories.
The 50-year-old marketing company has leading presence in several segments, including fan, home appliances, sewing machines, engines and motors, air-conditioners and auto components.
Wadhwa said the company has been able to sustain its profitability on account of its wide-ranging offerings although there has been a general slowdown in the market.
“Our strength lies in the strong marketing network comprising over 30,000 dealers across the country. With this network, our products can reach even in the remotest corners,” he said.
The company, having association with the largest US fan maker Hunter group, is launching 19 models in the fan segment with prices ranging from Rs 800 to Rs 10,000.
“Already we are the largest player in the fan market despite threats from the unorganised sector as well as cheap imports. We are hopeful of consolidating our position even further with a slew of launches which will cater to the needs of the economy section as well as those who are on the look out for aesthetic products,” he said.
Currently fan contributes to over 30 per cent of the company’s turnover with home appliances coming close to second with around 20 per cent share.
Usha claims to have 45 per cent market share in the organised home appliances sector. “We have plans to introduce more and more products in this segment to raise the share,” he said. The company is planning for a significant global presence with the current exports rising over 25 per cent of the total sales.
“This is a very encouraging sign that our products have a large international market and our aim is to expand the reach further,” he said.