Coimbatore-based manufacturer of energy efficient fans, Versa Drives, plans to start export of its Superfan to Malaysia and Sri Lanka this year.
Sundar Muruganandhan, Managing Director of Versa Drives Private Limited, told The Hindu on Tuesday that the Superfan was installed at a couple of garment units in Bangladesh about two years ago. In India, the focus so far was on Tamil Nadu. The company would expands sales to Maharashtra, Andhra Pradesh, Telangana, New Delhi, and Madhya Pradesh shortly. The potential is high for institutional sales in the country.
For overseas markets, it would export to distributors in Malaysia and Sri Lanka from this year. “We recently won the Global Leap Awards 2016-2017 for off grid Superfan. With this, we will explore the opportunities in the African market too,” he said.
The company manufacturers energy efficieny ceiling fans (35 watts), under the brand Superfan, and customised variable frequency drives. It has started a new manufacturing facility for the Superfan here with capacity to produce about five lakh fans a year, operating one shift a day. By January next year, it is looking at full capacity utilisation. “This year, we are looking at 200 % growth in volume of sales,” he said. The company targets ₹225 to ₹ 250 crore annual turnover by 2020 with ₹ 200 crore coming from the fans. The turnover last financial year was ₹30 crore.