January 27, 2015: Latest reports have revealed that Anchor Electricals will venture into the business of solar photo-voltaic modules business this year, leveraging its parent Panasonic’s expertise. Besides, Anchor will also grow its business in fans and lights as well. Panasonic is a leader for lighting systems in Japan and has recently launched its range of energy-saving LED lights under the branding of Anchor along with an extension in its CFL business. Commenting on this, Kiyoshi Otaki, Managing Director, Anchor Electricals Pvt Ltd, said, “In the near future we will expand in the energy solutions space by unveiling products and services such as solar energy monitoring systems at a plant level.”
Panasonic had acquired Anchor a few years ago for 40 billion Yen. Panasonic has its strengths in distribution, brand equity and product technology. Anchor will make full use of all this to provide affordable electrical solutions across India. Anchor is one of the largest players of electrical construction market in India. It has a majority market share in the switches and accessories business at 40 per cent (an approximately Rs 35 billion market), followed by wires and cables and its low voltage switchgear business where it has a 10 per cent share in each of these markets.
Competing the other major brands in the other market, Anchor’s strategy mainly involves investments and productive work in the energy solutions segment. “Our path in the future will be to strengthen our position in energy management and grow in energy generation (through its solar PV business) and conservation,” Kiyoshi Otaki said. Anchor’s turnover last year was 15.84 billion and it is now targeting a net turnover of 18.14 billion for FY 2015.
