In an interview with Meena Konar of Myiris.com, VP Mahendru, CMD, Eon Electric says, "The commitment of creativity and innovation continues in the ethos of Eon will ensure comfort and convenience to its end users and financial benefits to the investors."
1. How do you see company's performance for the coming quarter?
We in India have been short of our electrical energy requirements for many decades. Our consistent growth of consumption of power is it for industries or for use at homes has always outgrown our new growth of electric energy generation, resulting in consistent shortage of power, quantum of which has often increased over the last 50 years.
Eon Electric has had the unique opportunity of being the first and foremost in presenting to the market, new, creative and innovative products for elegance, safety and of energy conservation.
2. Are you planning to launch any home appliances products?
Acute shortage of power has crippled many important industries in the recent decades, and has had adverse affect on the growth and performance of even some critical industries without blackouts which has been suffering. Such growth has consistently suffered for many years.
Understanding and appreciating the importance of urgent need of the Nation to have supply of good quality power consistently, Eon's major thrust has been many folds:
>Manufacturing electrical products of excellent quality ensuring faultless performance.
>All Eon lights while delivering the desired service to the community are highly power efficient such as variety of indoor and outdoor LED lights including LED bulbs, LED tubes, LED street lights etc.
>It is anticipated that nearly 50% of the power we generate and use today for lighting purposes will be saved through the use of energy efficient lighting systems within next five years.
>It is also anticipated that despite ever increasing use of power for lighting purposes for the brilliantly lit shopping malls, the playing grounds and for residential purposes, and despite consistent increase in generation and usage of power for industrial and commercial purposes, the saving of power because of change over from traditional sources to LED lights will reduce the share of power consumption for lighting purposes from the present 18 - 20% to less than 10 - 12%.
3. Could you brief us about your expansion plans?
Strongly motivated by its ethos of conserving energy in whatever way we can, Eon has developed a variety of Lithium Ion Batteries which are highly efficient and yet small enough to energize mobile phones, cameras and computers as also batteries which are large enough are also being developed to work as power back up for all important continuous power supply requirements including telecommunication towers, bank ATMs and large R&D laboratories, offices and banks handling billions of dollars of transactions which must always remain fully powered by electricity, 24 x 7.
4. Could you update us on current and future capex plans?
Eon Electric has already invested heavily in state-of-the-art manufacturing facilities for LED Outdoor and Indoor Lights and has planned further investment of Rs 500 million for updating the facilities so that our products which have always been foremost in terms of technology and excellence of performance always remains high to match the best at global levels.
5. What is the overall industry outlook?
The industry outlook is good for companies which have invested appropriately in technology and trained their engineers and executives to derive full benefit of the limited but fast expanding market.
With many new products on the anvil which also include our new products for exports of these lighting products to Middle East, Lithium Ion Battery products also are being introduced in the overseas markets as their potential is growing fast.
Before long, Lithium Ion Batteries will also be used for e-bikes and e-cars. Initial trials have been very successful for battery backup for larger loads on bank ATMs, larger R&D centers, telecommunication towers. Trials are also on for use of such batteries to handle instant change over for smart power grids etc.
6. What is your message to the shareholders and investors of the company?
EON Electric earlier known as Indo Asian Fusegear has been one of leading innovators in development and extensive marketing of unique electrical products for the first time in India such as Indo Wickmann HRC Fuses, Indo Kopp MCBs and ELCBs etc. This commitment of creativity and innovation continues in the ethos of EON and will ensure comfort and convenience to its end users and financial benefits to the investors.
