Standard eyes Rs 1,000cr sales in 3 years
Standard, a well-known brand of Havells India, will be foraying into water heater segment to tap tier-2 and -3 cities in the country. The company recently launched a new generation of Aspida range of MCBs and Zoe Switches. The water heater market in India is expected to be around Rs 1,500 crore and growing at 12 per cent. Standard has achieved turnover of Rs 400 crore in FY17 and is expected to cross Rs 500 crore by FY18. The company is targeting to reach Rs 1,000-crore turnover within three to four years.