Halonix Reports Compound Annual Growth Rate of 22% Over Two and Half Times Industry Average
Targets a turnover of Rs. 1000 crore by FY 2023
Halonix Technologies Pvt. Ltd. (Halonix), India’s fastest growing residential and institutional lighting company, has reported a 22% of Compound Annual Growth Rate (CAGR) markedly higher than the industry growth rate in single digits CAGR. The company is also expecting to close its books at around INR 520 crores turnover vis a vis INR 423 crores in 2018-19 and INR 352 Crores in FY 2017-18.
Halonix has closed its H1 in FY 19-20 at Rs. 234 crores vs Rs. 178 Cr in H1 FY 2018-19, a growth of 32% which highlights the momentum at which the company is growing.
The growth for the Halonix retail business, which has shown a year on year growth of 26%, has been buoyed by the wide range of innovative products it has launched under the sub-brand “Halonix Prime” and through deeper market penetration. After cementing its leadership in the ‘Inverter Light’ and ‘Motion Sensor Light’ segments, Halonix has recently launched its category redefining ‘All-Rounder series’ that has 3 wattages in one bulb and the ‘Speaker Bulb’ that allows you to play clear powerful music through the bulb without having to sign in through any app. Halonix Prime today contributes to about 30% of the retail revenues.
The institutional business at Halonix has grown at CAGR of 35% from 2014-2019 and has deployed lighting solutions at over 15 airports, Tumkur Smart City, many railway stations, has deployed street lighting for many municipal corporations and has been the preferred lighting solutions partner for many leading public sector and private sector companies including some of the biggest corporate names in India.
Mr. Rakesh Zutshi, Managing Director, Halonix Technologies Pvt. Ltd. says, “Our focus on quality, indigenous manufacturing, a steady stream of Innovative, value-defining new products developed in-house, expansion in distribution and streamlining of our sales and supply chain processes have contributed to Halonix delivering growth and profitability far above the industry average. Our foray into fans and smart-home solutions as well as our sustained growth in lighting should see us accelerating towards our goal of being a INR 1000 crore company by FY-23.”