Luminous Power Technologies has been around for several years now, are you focusing on any new markets this year?
We are focusing on the following for growth :
a) Geographic expansion : The opportunity for us to penetrate in the markets outside of the Hindi belt, especially in South and East , while continuing to consolidate our position in the North and Central India.
b) Rural Markets : As the wealth creation happens and the aspirations of the customers across the market segments converge we see tremendous amount of growth opportunities in the rural markets. We have launched specialized products for the rural markets, eg affordable home UPS and battery solution.
c) Renewables solution : We have now a complete range of solar batteries, solar home lighting solutions and solar Inverters.
d) Electrical Business : We have launched a complete range of offers to complete the electrical system in a home around safety and lifestyle , including MCBs, Fans, Wiring Devices and Wires. We are creating a product mix pertaining to packaged power, diversified generation, electrical control & safety and energy optimization which is relevant to varied markets all over India.
2. Power solutions sector has been growing each year, what is your forecast for 2013?
– The power sector will continue to grow and grow very fast. First let us look at the consumption of power. As the standard of living goes up with the wealth creation first thing that increases is the use of energy and especially electricity. Today in India the per capita consumption is approximately 800 KWh /year and the average of the world is 2500 KWh. We are going to go up this consumption average as we get more airconditioners, appliances and bring more convenience and comfort to life. The growth rate of power demand will continue to outstrip the supply and the gap between the supply and demand will increase . With today’s lifestyle whether it is a rural or an urban customer we want power to be continuous and reliable. Due to this more importantly the timing of the supply and demand will mismatch and that is where Luminous comes in to satisfy the needs of the customer. So we have a play in both the increasing demand of consumption which is where our electrical business comes in and the supply gap that is matched by the Power back up and renewable solutions. We are very optimistic about the future and that we are part of the Indian growth story.
3. Luminous always has been aggressively marketing and branding its products in the Indian Market. Any plans to continue doing so this year too? Or will there be a change in the marketing strategy?
– Luminous Power Technologies has for some time now concentrated on aggressively marketing and branding its power backup solutions into the Indian market and is now in the top of mind recall of customers in this category. Sachin Tendulkar, who stands for trust, reliability and longetivity embodies our brand values perfectly. We continue to leverage Sachin for our brand ambassadorship. With the new businesses that we described earlier we are continuing to further extend our brand salience in new categories of products . In terms of the medium we have moved in the current fiscal to the new areas of outdoor and digital marketing. In a space of one year we have got over 63,000 face book fans and are now being relevant to the new generation . We will continue to have a balanced marketing mix going forward as well.
4. Rural India or Urban India, which is your target market?
– For Luminous Power Technologies, both Rural and Urban India are the target markets. While the problem of electricity shortages is same in both the sectors it is with varying degrees . In urban areas the focus is on high capacity power backup solutions which bring are able to run higher loads for the consumers , even though typically the power outages are for a short time . In rural areas the consumers need longer back up solutions as the power cuts are for a longer period of time and have relatively smaller loads . Further the renewables products and the electrical products are both suited to either markets.
5. In your opinion, will India ever accept green technology? Can we ever use cleaner and environmental friendly ways of generating power?
– Yes, the awareness towards green technologies is on a rise in the country. The government, stakeholders and organizations are opening upto viable measures for the upkeep of sustainable technologies and are conscious of efforts needed for the conservation of them. The Jawaharlal Nehru solar mission continues to be going strong . The technological innovations on cue are being tuned into accepting cleaner and greener environmental friendly means, and stakeholders along with the governmental machinery are gearing up for the utilization of the same. In this regard, as one can see, India has already become a higher generation capacity of renewable energy. This trend will continue as we need to become more efficient in our use of energy and also generate from greener sources.
6. What are your future plans for Luminous Power Technologies?
Luminous is a company obsessed with Growth and Innovation . We continue to bring out new products as mentioned in the first question. Our plans are around execution of this growth strategy and engaging more with our customers. We would continue to invest in our people , brand and services which are all key enablers to growth.