Wipro aims to be among top three companies in lighting industry by FY25-end
Wipro Consumer Care & Lighting is aiming to be among the top three companies in the lighting segment by FY2024-25-end, growing faster than the industry average despite challenges related to inflation and low rural consumer demand, a company official said. The company, part of Wipro Enterprises, entered into the home appliances segment more than a year ago, with the launch of the products into the mid to premium segment.
Currently, its appliances are an online exclusive brand, available on e-commerce channels, however, it has plans to go offline also, said Sanjay Gupta, Senior Vice President, Consumer Lighting & Switches at Wipro Consumer Care & Lighting.
In FY 2022-23, Wipro's Lighting business achieved a remarkable double-digit growth, crossing Rs 1,000 crore revenue.
When asked about the growth, Gupta told PTI: «Moving forward, we are confident in our ability to outpace industry growth rates, despite encountering some demand-side challenges in the B2C Lighting segment.» «To sustain this momentum, we have established ambitious growth targets, aiming to secure a spot among the top three players in the Lighting industry by the close of the fiscal year 2025,» he added.
Wipro's lighting business is divided into two segments B2C and B2B — contributing 60 and 40 per cent, respectively — in the top line.
According to Gupta, there has been a slowdown in the demand for the last one year in the B2C business because of inflation and other factors.
«However B2B business is doing very well because of the new infrastructure projects.
