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“The focus is to increase revenue to Rs 3000 crore in the next four years with the help of a new manufacturing facility. We are adding one facility every year. We have added a washing machine facility recently. Another new automated plant is coming up for TVs in Hapur,” SPPL<\/a> Chief Executive Officer Avneet Singh Marwah<\/a> told ET.
The company sells TVs under Kodak<\/a>, Thomson<\/a>, Westinghouse and Blaupunkt as India's exclusive brand licensee partner. Under the Thomson<\/a> brand and White Westinghouse, it sells consumer durables like air conditioners and washing machines.
India’s smart TV market<\/a> was valued at $9.88 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 16.7% from 2023 to 2030, per Grand View Research.
With the Hapur facility, the company will have three operational facilities. “From now on, we will have an additional plant every year. We are already in talks about acquiring land. All capex will be toward lands, machinery and technology.”
Established in 1990, SPPL will double its capacity to two million units annually.
With the capacity increase, the company will also begin exports from these facilities to the Latin American market next month. “Many export opportunities will be there as and when we shift into a bigger facility. In the next two years, about 10% of our total production will be given to exports.”
The company targets Africa, GCC nations, Australia, the UK, and Canada other than Latin America.