Nearly 40 percent of the electrical industry constitutes the market of wires and cables in India. Owing to the growing demand in the power and infrastructure segments, this industry has attained a growth rate of 15 percent year over year. It is primarily because of the implementation of different government projects such as Ujwal Discom Assurance Yojana (UDAY), Deendayal Upadhyay Gram Jyoti Yojana (DDYGJY) and Integrated Power Development Scheme (IPDS) among several others has enhanced the demand for wires and cables which has proven to be very fruitful for the native manufacturers.
In this niche where change is constant and demand is growing day by day, it requires an industry expert to analyse the need and execute what it demands. Who else can understand it better than Plaza Cables as they have sustained long enough to analyze each and every change in the industry. From domestic household cables to low smoke zero halogen cables, they have produced it all. “The demand for our products has gone up since the implementation of various projects by the government to provide electricity to all. Apart from our government projects, we also have clients in the private sector which include shopping malls and multiplexes that use our low smoke cables,”
states Sanjay Gupta, Managing Director, Plaza Cables.
A wide range of cables are manufactured and distributed by Plaza Cables through a scattered network of 10,000 retailers all across the country. The products include domestic cables, submersible cables, cctv cables, panel wiring for all kinds of panel manufacturers, multi-core cables for electrical appliances, power cables, FRLS cables and the most advanced low smoke zero halogen cables. As the demands are changing with time and technology, the company is adding more verticals to its manufacturing unit.
A wide range of cables are manufactured and distributed by Plaza Cables through a scattered network of 10,000 retailers all across the country
In addition to this, Plaza also wants to enter the ceiling fan market for which the R&D has already started. “We have opened a manufacturing unit in Lucknow where our R&D department has manufactured 100 ceiling fans that are on the trial run. They have brought down the power from the usual 80 wt to 30 wt which we predict is going to be a game changer for the ceiling fan industry. It will enter the market in the next financial year,” says Aditya Gupta, Director.
The Road Ahead Currently, the company has one plant in Himachal and another one in Lucknow along with 11 branches in different cities of the country. “Encountering a growth of 18 percent YOY, Plaza Cables has decided to open another plant in Himachal for which the land has already been acquired. The plant will be made operational by 2021,” states Manoj Gupta, Sales President.
Ajay Batla, CFO concludes, “So far we have grown very organically by fulfilling the demand of the market which we wish to continue in the future. Not only have we achieved the feat of providing a wide range of wires and cables, we have expanded ourselves to the solar energy sector as well. It is our soul motto to keep innovating in the electricity and solar energy segments and fulfil the needs of the current generation and generations to come.”