CHANDIGARH: Su-Kam Power Systems is planning to tap the power storage market and aims to achieve a turnover of Rs 1,200 crore during the next one year.
"We have found huge potential in power storage business in the country which is untapped and we would like to cater to this emerging market," Su-Kam Power Systems CEO Kunwer Sachdev said.
The company observed that about 10-15 per cent power is lost whenever a generator is put to use for supply of power. To save the lost power, it has developed a high capacity inverters ranging from 200-1000 KW which would conserve the energy and allow its extraction for further use, he added.
Sachdev said this business is posed to grow at Rs 10,000 crore within next five years, and added that the company had found storage business market in hotel and big industrial and multiplex projects.
Su-Kam also plans to set up another unit in Baddi with to catering to the growing demand for inverters and batteries.
"This will be our fifth plant," he said but refused to divulge any detail on the expected investment.
Encouraged with the growth of power back solutions, the company is aiming to double its turnover within one year.
"Last year, we posted a turnover of Rs 432 crore and this year, we expect to touch Rs 600 crore. And during next year, we hope to touch the mark of Rs 1200 crore," he said.
On export front, Sachdev said the company was looking at an export business of Rs 75 crore by end of this fiscal. "We intend to have export of Rs 75 crore against last year's export of Rs.27 crore," he said.
The company exports its products to various overseas markets across Asia, Africa, Middle East and Pacific Region.
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