o First time in India, C.R.I’s Research Centre has developed a high temperature application XLPE submersible winding wire
o Company enters the high-end specialized Wires and Cables market with an investment of Rs. 125 Crores
o C.R.I Group targets Rs. 5,000 crore turnover by 2021(wires and cables segment Rs. 1,100 Crores by 2021)
o C.R.I’s target segments market potential is about Rs. 14,000 Crores in India (current market size of Indian wires and cables is Rs. 40,000 Crores)
Mumbai, 17th August 2016:
C.R.I. has successfully journeyed on its way to becoming a reputed player in the Global Pump Industry. Today, C.R.I. is one of the World’s fastest growing pump manufacturer with top-of-the-line facilities to manufacture over 3 Million pumps and motors every year. Meticulous planning and foresight soon saw C.R.I. diversify into the manufacture of high end non-metallic uPVC and CPVC pipes last year. Now C.R.I. enters into the high end specialized wires and cables market. This diversification and expansion is part of an aggressive plan that targets turnover of Rs. 5,000 Crores in 2021.
In the high end specialized wires and cables offering for the 1st time in India, C.R.I.’s Research Centre has developed a high temperature application XLPE ( cross linked poly ethylene) submersible winding wire with higher dielectric strength. C.R.I. has also developed high efficient DC solar cables for the fast growing solar industry. C.R.I.’s specialized wires and cables range includes Lead free insulated cables for hygiene applications, EPDM cables for low ambient applications, special oil resistant and chemical resistant cables for waste water, communication cables, halogen free flame retardant wires , fire retardant wires and fire retardant low smoke wires , termite resistant wires , flexible power cables for industrial applications, submersible cables and winding wires. The advantage of the halogen free flame retardant cables further include low smoke emission, low generation of corrosive / toxic gases and low fire propagation characteristics.
C.R.I. has already test marketed some of these products in specific markets and got overwhelming response.
The Indian wires and cables industry’s market size is estimated as Rs. 40,000 Crores. Out of this, C.R.I.’s target segment’s market potential is about Rs. 14,000 Crores. This is expected to reach Rs. 25,000 Crores in 2021 with a CAGR of 15%. And C.R.I. is confident to capture at least 4% to 5% market share in the targeted wires & Cables segment which would fetch a revenue of Rs. 1100 Crores by the year 2021.
India’s growth relies on power and infrastructural development and the current Government’s initiatives such as smart city development, rural electrification, industrial corridor development, solar mission and affordable housing will further drive the growth of the domestic wires and cables t.
Rapid urbanization and the rise in the number of nuclear families is witnessing an increasing demand in the residential sector. Booming consumerism and the entry of MNC retailers is seen in the retail space. The commercial and industrial sectors are facing expansion and specialized demands with every passing day. The implementation of proposed GST will be an advantage to CRI over unorganized players present in this industry. The current stringent government policies and stipulations further increase the potential for quality players in the industry.
According to Mr. G. Soundararajan, Vice Chairman - C.R.I. Group, over the last 25 years, the wires and cables industry has moved from being a small industry to a large one. The sector continues to remain highly fragmented predominantly by organised players. However, about 35% of the market is still catered by unorganized players in the industry. This volume driven product places a lot of importance on quality and technical specifications. In fast growing countries like India, the demand for specialized cable and wire products for specialty applications are increasing rapidly, resulting greater opportunities for C.R.I.
Mr. G. Soundararajan added, “In the 1st phase, C.R.I. has earmarked an investment of Rs.125 crores for this project. This state of the art plant with integrated cable compound manufacturing facility will have production capacity to process over 10000 tonnes of copper and produce products worth over Rs.500 crores per annum. In the 2nd phase, the company has planned to invest further to double the capacity in about 2-3 years time. The company will leverage its longstanding relationship with reputed EPC contractors, retailers, consultants and contractors of C.R.I. for the wires and cables division too. The stocking of wires and cables at the existing 7 foreign subsidiary companies, 32 branches in India and the strong distribution network currently available in 120 countries will greatly help to market these products worldwide. In addition, C.R.I. is in the process of establishing a new distribution network for some of its wire & cable products. C.R.I. will also leverage its vast retail network it has created throughout India over the years.
The C.R.I. wire and cable manufacturing plant is situated in close proximity to the city of Coimbatore in the state of Tamilnadu. This ISO:9001 certified facility sprawls across a whopping 2 Lakh Square Feet of built up space and stringent manufacturing and testing process conforms to IS 694 and BIS standards ensures consistent quality. Because of the quality of raw materials like 99.9% pure EC grade Oxygen free copper conductors and state of the art in-house cable compound manufacturing facility ensures innumerable advantages like superior quality, energy efficiency, flexibility for wiring, high conductivity, high ageing property, low conductor resistance, high insulation resistance and etc..,