Luminous Power Technologies, a home electrical, power back up, batteries and solar applications company, is upbeat on business prospects, particularly in the solar energy sector.
About a year ago, Luminous had become a 100-per-cent-owned company of Schneider, after completing the buyout of the residual promoter stake in the company. Since then, the strategy has been fine tuned to address newer areas including the sunrise sector of solar rooftop solutions with an integrated solutions approach, including facilitating finance.
The company, now part of the diversified French major Schneider, with seven manufacturing units, has expanded its India presence while also seeking to boost its export volumes. The company closed the last financial year with a turnover of over ₹3,000 crore and the near term target is to breach overall revenues of ₹5,000 crore, backed by growth in the domestic business as also export volumes.
The company has been growing at more than the industry average and is looking at achieving a strong double-digit growth across various business — domestic electrical appliances, power back up and UPS, battery solutions and lately rooftop solar solutions, where they have adopted an integrated solutions approach.