Legrand to focus on IoT, automation; scouting for more acquisitions
15 November, 2021
French electricals and digital building infrastructure major Legrand expects IoT, energy efficiency, connectivity, and user-interface product verticals to drive its business in India, contributing the bulk of its revenue, over the next few years. Legrand India had closed 2019-20 with a topline of Rs 2,621 crore, while the same contracted almost 9 per cent in 2020-21 due to the pandemic.
While the first quarter of 2021-22 was also a near-washout due to the second wave of the pandemic, July-September was better and from October onwards demand is back to the 2019 level.
"We aren't there yet (2019 sales levels), September was very close to that, maybe only 2-3 per cent down; but in October we touched the 2019 level. So if there is no third wave, we're very confident of reaching at least the 2019 volume levels, if not better it. Going by the current demand trend, I am sure we'll easily make it," Legrand India CEO and MD
On the future of India business, he said the Internet of things (IoT), energy efficiency, connectivity, and user interface products will drive the business here, contributing the bulk of its revenue over the next few years.
"Currently, IoT fetches around 19 per cent of the topline and I want to take it to at least 25 per cent over the next few years. When it comes to IoT, I've a very clear roadmap ready and most of the IoT products sold here are also developed locally," Berland said, adding the connectivity vertical is the single largest revenue head now.
What makes him really optimistic about India is the huge scope for IoT and the large energy saving objectives. Berland also said they're investing heavily in digital infra here especially in data centres where they are getting new products to keep pests away, ensure connectivity and better user-interface.
While the first quarter of 2021-22 was also a near-washout due to the second wave of the pandemic, July-September was better and from October onwards demand is back to the 2019 level.
"We aren't there yet (2019 sales levels), September was very close to that, maybe only 2-3 per cent down; but in October we touched the 2019 level. So if there is no third wave, we're very confident of reaching at least the 2019 volume levels, if not better it. Going by the current demand trend, I am sure we'll easily make it," Legrand India CEO and MD
On the future of India business, he said the Internet of things (IoT), energy efficiency, connectivity, and user interface products will drive the business here, contributing the bulk of its revenue over the next few years.
"Currently, IoT fetches around 19 per cent of the topline and I want to take it to at least 25 per cent over the next few years. When it comes to IoT, I've a very clear roadmap ready and most of the IoT products sold here are also developed locally," Berland said, adding the connectivity vertical is the single largest revenue head now.
What makes him really optimistic about India is the huge scope for IoT and the large energy saving objectives. Berland also said they're investing heavily in digital infra here especially in data centres where they are getting new products to keep pests away, ensure connectivity and better user-interface.