The company is aiming to double its turnover by fiscal 2019. Set up in India in 2013, the company has been improving its profitability every year while clocking growth in its year-on-year revenues.
Hyderabad: Pune-based Fronius India, the Indian arm of Austria-based Fronius International, which supplies solar inverters, welding equipment and battery charging systems is finding growth opportunities in Telangana in all of its business segments.
The company has so far completed 15 MW of solar installations in Telangana worth Rs 14 crore. Fronius has installed systems at the Governor’s house and Nampally Railway Station.
Fronius India MD VV Kamath told Telangana Today, “Telangana has identified solar as a means to ensure power self-sufficiency. We are seeing growing demand in the solar space. We have about 6 MW of installations that are in progress now, which should be completed in the quarter ending March 2018. We have also created an experience centre in Hyderabad so that prospective customers can get a feel of the product and its technical advantages.”
Fronius is aiming to double its turnover by fiscal 2019. Set up in India in 2013, the company has been improving its profitability every year while clocking growth in its year-on-year revenues.
The company also plans to expand its solar inverter business by entering east and central India, where they see tremendous opportunities for growth. Fronius currently services solar clients across sectors such as manufacturing, automotive, hospitality, government, educational institutions and commercial. Fronius solar inverters have been deployed across India resulting in over 100 MW of solar installations till date.
Kamath said, “Given the rate at which the solar industry is booming, we are expecting high returns by 2019. Currently, we have a market share of 5.2 per cent and are expecting it to increase to 20 per cent in the next two years. We have witnessed a 35 per cent growth between 2014 and 2017.”
He explained, “Our solar inverters help to maximise the yield of PV systems and stabilise the grid, thanks to advance grid functions implemented on all our devices. Quick repairs are possible due to unique Snap lnverter design, and hence ensure minimum down time and service cost. Fronius solar inverters are future ready and are capable of meeting the requirements of the grid of tomorrow.”
In the four years since the company entered the Indian market, the company has completed over 5,000 inverter installations in about 20 States across India and has a client base of over 250 companies.
India’s solar power sector is at an inflection point and is all set for speedy acceleration. The Government has set an ambitious target of installing 100 gigawatts of solar power by 2022. Both Central and State policies are in favour of solar which makes Fronius believe it can grow its market share faster.
On the welding equipment front, Fronius in Telangana has been working with several defence establishments and labs including DRDO and Midhani. Nationally, the company has been meeting the fabrication needs of Bajaj, Hero, Volkswagen, L&T and others.
The company which is also into supply of battery charging systems has tied up with several original equipment manufacturers (OEMs). The company has been supplying systems to automotive companies such as Mercedes, Audi, Volkswagen, Suzuki, Volvo and JLR.
Kamath said, the company’s welding business currently accounts for 65 per cent of the business generating Rs 75 crore of revenues, followed by solar with 32 per cent revenues valued at Rs 40 crore, while the batter charging systems currently contribute marginally towards the overall revenues at Rs crore accounting for the remaining 3 per cent.