V-Guard Industries’ new plant for manufacture of solar water heaters is to go live on Wednesday.
The facility, established at the SIPCOT Industrial Complex at Perundurai, will have a capacity to produce 90,000 units of solar water heaters annually.
Claiming to be the country’s largest integrated manufacturing facility for polymer tanks and stainless steel tanks for solar water heaters, the Director – Marketing and Strategy of the consumer electrical and electronics major V-Guard Industries, V. Ramachandran, said with this plant becoming operational, the company would aim to reach the top position in the solar water heater category in two years and also explore the possibility of exporting the product.
The facility is spread over 8.4 acres land with a built-up area of 90,000 sq. ft. V-Guard has invested Rs. 18 crore in this complex, Ramachandran said.
This Kochi-based company has, since its inception in 1977, diversified to become a multi-product company, manufacturing voltage stabilizers, inverters, digital UPS systems, pumps, house wiring cables, fans, electric and solar water heaters.
It has recently forayed into induction cooktops and switchgears. “These are in the test marketing stage,” he said, adding “we launched solar inverters very recently.”
The company outsources 60 percent of its product profile, while manufacturing the rest in-house. Its manufacturing facility at Chavadi on the outskirts of Coimbatore has now been relocated to Perundurai.
To a query on the plant location, Ramachandran said that Karnataka and Maharashtra were two major markets for solar water heaters.
“Location of the facility at Perundurai will help us leverage our business and the market.”
The company clocked a turnover of Rs. 1,360 crore last year and is looking to grow 25-30 percent this year.
V-Guard’s Director- Marketing will inaugurate the Perundurai plant on September 25.