Legrand, the French digital and electricals building infrastructure, is expecting energy efficiency, connectivity, user-interface product verticals, and IoT to drive its business aspects in India. And these technologies will be playing a major role in generating high revenue in the coming few years.
Legrand India generated a closing revenue of Rs.2621 crore in the financial year 2019-2020. But the revenue did deteriorate in the year 2020-2021 due to the pandemic outbreak. As the second wave of pandemic struck India hard, the profit aspect was less in the first quarter of 2021-2022 as well. But it took a peak in the months of July-September and then was high in demand from the month of October. The demand rate returned, just like it was in 2019.
Till September 2021, the company said that they have not yet received the 2019 levels. The report also stated that September was very much close to the levels in 2019, and it was just 2-3% down. But in the month of October, they reached the levels. The company also stated that if there is no third wave of COVID pandemic, they are confident enough to reach the volume levels as well, like that of 2019.
The CEO of Legrand India, MD Tony Berland, informed PTI that with the current demand trend for their technologies, they are pretty much sure they will reach their milestone. When he was asked about the future of business in India, he answered that IoT would be a vital product for driving business in India.
He also stated facts such as IoT is fetching around 19% of the topline. And Legrand CEO said that he intends to take it to 25% in the coming few years. “When it is about IoT, I have a very clear pathway ready for my approach,” he added to his answer. He believes that the connectivity vertical is the largest revenue head as of now. Most of the IoT products that are sold within India are also developed locally, which is a market opportunity for Legrand to increase its usage.
With these answers, it is clearly evident that Legrand is truly willing to leverage the potential of India’s scope for IoT and energy-saving approaches. The company is also investing heavily in digital infrastructure, especially in the data centers, to ensure connectivity and a better user interface.
Legrand is currently in partnership with Tata Motors to enter the electric vehicles space by developing charging stations, Berland further reported to PTI. He said that he has immense confidence in India’s capabilities to rise and shine in the coming times. Legrand is investing to make India a profit center across the globe for businesses in the coming years. With this approach, there should be immense profit in the country, which is essential for making progressive investments.
IoT is soon going to be the major nerve of India’s success journey. And Legrand is all set to contribute its collective effort for the same.
Credit: To read the complete piece, with factual evidence, refer to this news article!
Tanaya is a Senior Content Developer at IoT Avenue who helped to build the content of the site along with several other sites with her compassionate SEO driven content. She is also a HubSpot, certified Content Marketer. She brings her five years of experience to her current role, where she is dedicated to developing the content of different websites.
by Tanaya Sadhukhan | Jan 07, 2022 | IoT News
by Tanaya Sadhukhan | Nov 17, 2021 | IoT News
by Tanaya Sadhukhan | Oct 27, 2021 | IoT News
by Tanaya Sadhukhan | Oct 04, 2021 | IoT News
by Tanaya Sadhukhan | Sep 28, 2021 | IoT News