Gujarat-based Ajanta Manufacturing Ltd launched its product ‘power saver unit’ based on Korean concept in Ahmedabad on Friday.
Acording to the company officials this green product which can be installed in a single interphase electrical circuit, saves up to 30 per cent electricity. It reduces loss of power while transmission and draws minimum electricity required for household operations.
“An average Indian house uses 0.75 power factor of which 25 per cent is wasted. The power saver unit improves the power factor up to 95 per cent and minimize the wastage”, said Chintan Patel, the director of Ajanta Manufacturing Ltd.
Acording to Marketing Manager of Ajanta Manufacturing Ltd Gautam Bhimani, the company has launched two models — 3 KW, suitable of carrying load of 3000 W, and 6 KW, capable of carrying 6,000 W. The company is also developing three-phase connection models of 7.5 and 15 KW, to be launched in two months’ time for urban markets.
“The 3KW and 6KW models are suitable for electricity loads of 3000W and 6000W respectively. We have already launched these products in Maharashtra last month and sold 3500 units of a total cost of Rs 1 crore. When the product will be launched across the country, the expected sales at the end of the year is Rs 200 crore,” said Gautam Bhimani, marketing manager, Oreva Power Savers.
Company’s Rs.60 crore manufacturing unit is equipped to produce 500 units per day. The company intends to increase it to 5,000 units in a year as it expects a growth of 150 per cent next fiscal.
The turnover of Oreva brand was Rs 500 crore and Ajanta Manufacturing Ltd earned Rs 360 crore last fiscal.
Oreva has a range of compact fluorescent lights (CFL) from 2W to 90W. The company enjoys a market share of 35 per cent in India, which has a market size of Rs 1800 crore for the CFL segment. The turnover of the company was Rs 300 crore with exports of Rs 100 crore in the last fiscal.