New Delhi, January 28, 2014: India’s Base Corp is eyeing over 30 per cent rise in turnover this financial year.
Bangalore-based battery and inverter maker, Base Corporation has set for itself a target of capturing at least 10 per cent market share by 2020 with a turnover of Rs 30,000 million. In this way the company is looking to achieve over 30 per cent rise in turnover this financial year to Rs 12,000 million. Base Corp is currently riding high on the back of enhanced exports and domestic market expansion.
“We are focusing on the capacity expansion. The market share is very small now, around 3 to 4 per cent because of small capacity but we would be having around 10 percent share in 2020.” Base Corporation COO Aditya Arora was quoted by PTI. It had a turnover of Rs 8,970 million in 2012-13.
Base Corp is in the midst of setting up its second unit at Hosur in Tamil Nadu. The plant will manufacture industrial and institutional batteries for railways, telecom and defence industries. “In the first phase, we are investing around Rs 4,600 million and the plant would be ready by June this year,” Aditya said. Meanwhile, the company’s Solan plant would produce inverter and automotive batteries.
The current market size is about Rs 2,80,000 million in India. With that said, around 55 per cent of it is being controlled by branded batteries. “Now the market is growing 17 per cent year-on-year. Given the acute power shortage in hinterlands, even if there is a slow down in the automotive segment, there is a replacement cycle of old batteries,” Aditya added.
Meanwhile, on the export front, the company is looking to cash in on the opportunity in global markets after restrictions imposed by China on lead-acid battery production in the country. “China has lost a large chunk of manufacturing capacity and all global players are looking at India, which may be a huge hub for batteries,” he added.
