Could you brief us about your company?
Elektrolites (Power), Jaipur is a renowned primary manufacturer and innovator in the field of power transmission and distribution products since 45 years and has played a pivotal role in India for over the last four decades. We are the manufacturer and exporter of medium and high voltage switch-gear 11 kV to 400 kV, load break switches 11kV to 36 kV, surge arresters 11kV to 420 kV, railway switches 25 kV and smart grid products like fault passage indicator and autorecloser. We are registered vendors to power utilities of India as well as regular suppliers to Power Grid, NTPC, Larsen and Toubro, ABB, Siemens, NIPP (Nigeria), PHCN (Nigeria), KPLC (Kenya), South Africa, Indian Railways etc.

How is the market at present? What factors are driving the demand for your products?
The electrical equipment sector has registered robust growth on an annual basis in financial parameters across the board. According to market research and advisory firm Technavio, the Indian electric equipment market is expected to increase by USD 33.74 billion from 2021 to 2025 to reach USD 70.69 billion. The Electrical sector growth momentum is expected to accelerate at a CAGR of 9 per cent for India’s growth story.

Driving factors can be the presence of major foreign players, either directly or through technical collaboration with Indian manufacturers, strong presence of SME, presence of internationally accredited test labs like CPRI, NHPTCL, ERDA and a number of state-of-the-art test labs by Indian companies and MNCs. India is leading on green manufacturing technology to address climate change. We are gearing ourselves to meet annual growth of 25-30 per cent in the next five years.

The government has undertaken many steps to boost the economy - which include PLI schemes for 14 sectors, massive capital investments in infrastructure. How are these initiatives aiding to the growth of the electrical and electronics (E&E) industry, and increasing demand for the products and solutions of your company?
The government's Rs 2.3 lakh crore policy push for self-reliant India, the domestic electronics manufacturing industry is expected to see 30 per cent growth in the next fiscal to be worth nearly Rs 7 lakh crore. The Prime Minister of India, Narendra Modi has given its approval to introduce the Production-Linked Incentive (PLI) scheme to enhance India’s manufacturing capabilities and exports and making India as Atmanirbhar Bharat.

In the power sector huge demand is being generated to modernise and adopt digitalisation for making smart equipments for catering 24 x 7 quality powers. Adoption of new technologies and smart grid is going to increase demand for our equipments.

How will the growing usage of electric vehicles (EVs) and renewable energy translate into new business opportunities for your company?
To mitigate environmental issues, Prime Minister of India, Narendra Modi announced snowballing the renewable energy target to 450 GW by 2030 from 175 GW by 2022 at the United Nations Climate Action Summit. New sub-stations of 750/400/220 kV are required to achieve transmission of 450 GW power across India. Our entire range of equipments from 11 kV to 400 kV are required for the sub-stations as such demand for new equipments as well as retro fitting shall increase multi fold.

Sustainability is viewed as a key performance parameter for all industries. How will your company propel the cause of sustainability?
From an environmental standpoint, sustainability measurement is a process and framework for measuring and attributing greenhouse gas (GHG), climate, and environmental impacts and outcomes to an organisation’s direct actions and business operations. Sustainability measurement is a process that encompasses several components like mission statement, materiality assessment, sustainability measurement framework, sustainability analytics, data science, and the most important sustainability reporting, learning, and continuous improvement which we strongly follow. We also consider our suppliers and the sustainability of their operations. We educate, engage, influence, and collaborate with suppliers for a full understanding of organisational sustainability.

What are your plans for Elecrama 2023?
The 15th glorious edition of IEEMA’s flagship event Elecrama for long has been focused on relevance to its constituencies by providing relevant showcasing of product and technology as well as strengthening the knowledge quotient by a suite of concurrent and professionally managed events that feature some of the world’s renowned experts and thought leaders. In Elecrama 2023, Elektrolites plan to ‘Connect, Converge, Collaborate’ for new business development in the global value chain. It will be a perfect amalgamation of our core of new technology and sustainability for our customers along with new business opportunities in smart grid products and solutions for the future.

What are your growth plans for the company in the coming years?
The major growth plan for Elektrolites business growth is through newly developed smart grid products for the Indian market and adoption of technology in existing products in addition to enhancing exports. Now is the time to make all equipment communicable and smart to give value added service to users. Elektrolites R&D team has developed new solutions to address the problem faced by railways, metro in electrification of their network.

We as an industry also need to think of innovative business models to keep up the pace of modernisation through smart grid technologies. Elektrolites is planning to increase exports to more than 40 countries as well as Elektrolites shall introduce innovative new smart grid products like fault passage indicator, auto-recloser and LLPD upto 66 kV. Our research team is continuously working on providing solutions to the power sector also.