Q.1  Polycab has gradually established itself as a leading name in Indian wire and cable industry. Tell us about the journey of Polycab?

 

A: Polycab had a Humble beginning in a small electrical retail shop in Mumbai in 1968 which was followed by the setting up a Manufacturing plant at Halol, Gujarat. The company got incorporated in Jan 1996 and expansion in manufacturing continued with the setting up of a facility for PVC insulated power cables house wires, telephone cables, optical fibre cables, switch board cables and quad cables at Daman. With the strong manufacturing and customer base, Polycab Crossed INR 10,000 mn in revenue in 2006 and INR 3,1000 mn in 2011. Having witnessed exceptional growth in the wires and cables segment, the company forayed into Switches in 2013, followed by Fans, Lighting and Switchgear in 2014 to continue its growth journey in the electrical industry. It continued to focus on strengthening the manufacturing capabilities by setting up facilities for Fans in Roorkee and for Switchgear in Nashik. Polycab also entered a joint venture with Techno Electromech for manufacturing of lighting products. Recently, the company has embarked upon a sales acceleration program focussed at expanding retail reach in top 300 markets for all FMEG products.

 

Q.2   Tell us about your key focus and product line. Is there any new addition in your product  list?

 

A: FMEG segment broadly operates in Fans,LED Lighting & Luminaires, Switches, Switchgear, Pumps and Geysers, Coolers. Our focus has always been on expanding the sub product segments within these categories to become one stop shop for all electrical solutions. Driven by the market demand, there has been a focus on improving the share of premium and super premium products by working on improving functionality, aesthetics, technology, and sustainability aspect. Polycab has recently entered a new segment with the launch of Hohm as a portfolio of smart products such as Smart Fans, lighting, IR blaster etc for the B2C segment. Polycab recently launched Purocoat, India First Antivirus Ceiling Fans which are manufactured with Nanova Hygiene+TM Technology.

 

Q.3 Do you feel Covid-19 can prove to be a huge opportunity for India to emerge as a global manufacturing hub? What steps and policies are required to capitalize on this opportunity?

 

A: India has been provided a major opportunity to increase its manufacturing capabilities as global companies would seek to develop additional supply chain outside China. The manufacturing industry is also a massive job provider. This is invaluable for a country like India, which has such a high unemployment rate and the fact that a million people enter the workforce every month and they all need new jobs. Therefore, India should grab this opportunity to bolster its manufacturing sector by working on cost and quality standards.

 

Q.4  What are smart (switchgears, lighting  luminaires etc.) products offered by Polycab? What is the response you are getting on your smart products range?

 

A: Polycab offers IOT based smart products through a brand called “Hohm” from the House of Polycab which will cater to the needs of the digital age. Current portfolio pans across products categories like Fans, Lighting, Switches and Water Heaters that can be operated using state-of-the- art mobile app and voice control. In addition to these, we also have Hohm Switchboard and Vivere Smart integrated panel designs which are available in various designs and finishes like Concrete, Brick,Marble, Glass,Corean & Wooden. These can be customized to match your floor, preferred colour, or design. Hohm smart product range includes Hohm Lanre Smart Plug, Hohm Zuerst Smart Water Heater, Hohm Lusiant Smart Panel, Hohm Avenir Smart Batten, Hohm Avance Smart Bulb, Hohm Stolz & Stolz-i Smart Fan, Hohm Krasa Smart BLDC Fan and HOHM Mirai IR Blaster.

 

Q.5 How do you evaluate the developed and developing market when it comes to technology, product offerings, and marketing strategies?

 

A: We evaluate all the markets based on factors such as overall market demand, demographics, consumer spending and aspirational value, maturity of distribution channel etc. By and large, all standard products are offered in both kinds of markets, but with a portfolio such as Hohm which has been positioned in the super premium category, we had identified key developed markets only where the consumer spending and aspirational value is relatively higher and therefore, will have to be sold through proper online and offline channel. Similarly, we do offer economy range in certain products specifically targeting the developing markets.

 

Q.6 How is Polycab as a company fairing in the market? Are you planning any launches in the coming 3 months?

 

A: FMEG segment continued its strong momentum, withstanding all disruptions in the last financial year. The year was marked with impressive broadbased growth and market share gains across categories. Within the fans category we emerged leader in few geographical clusters. Lighting business posted strong industry leading growth over last year despite tough market conditions and input cost inflation. Our strategic interventions to unlock synergies helped revive growth in categories like switches and switchgears. A focused programme is underway to develop premium and value-added products which resonates better to market trends. We have a series of new launches planned for the next quarter. In Fans, we are coming up with a new range of remote control operated super premium fans with exceptional aesthetics and energy efficiency. In addition, product extensions are planned in other businesses.