NE BUSINESS BUREAU
AHMEDABAD, FEB 24
Halonix Technologies Pvt Ltd (Halonix), India’s fastest growing residential and institutional lighting company, has reported a 22% of Compound Annual Growth Rate (CAGR) markedly higher than the industry growth rate in single digits CAGR. The company is also expecting to close its books at around Rs 520 crore turnover which was Rs 423 crore in 2018-19, a company release said..
Commenting on this, Rakesh Zutshi, Managing Director, Halonix Technologies said, “Our focus on quality, indigenous manufacturing, a steady stream of Innovative, value-defining new products developed in-house, expansion in distribution and streamlining of our sales and supply chain processes have contributed to Halonix delivering growth and profitability far above the industry average. Our foray into fans and smart-home solutions, as well as our sustained growth in lighting, should see us accelerating towards our goal of being a Rs 1,000 crore company by FY- 23.”
Halonix has closed its H1 in FY 19-20 at Rs 234 crores, a growth of 32% against Rs 178 crore in the same period of last year, the release added.
The growth for the Halonix retail business, which has shown a year on year growth of 26%, has been buoyed by the wide range of innovative products it has launched under the sub-brand “Halonix Prime” and through deeper market penetration. After cementing its leadership in the ‘Inverter Light’ and ‘Motion Sensor Light’ segments, Halonix has recently launched its category redefining ‘All-Rounder series’ that has 3 wattages in one bulb and the ‘Speaker Bulb’ that allows you to play clear powerful music through the bulb without having to sign in through an app. Halonix Prime today contributes to about 30% of the retail revenues.
