Amara Raja, a prominent battery manufacturer, is setting its sights on achieving a substantial milestone in the lead-acid battery industry.
Harshavardhana Gourineni, the executive director of Amara Raja, recently shared ambitious plans with CNBC-TV18, revealing the company's intention to reach a remarkable $3 billion in revenue within the next 5-7 years.
Gourineni provided insights into their strategic approach, explaining, "In the lead-acid battery sector, we are currently at approximately $1.2 billion in revenue. However, we are committed to expanding this figure to $3 billion over the next 6-7 years.
Our strategy hinges on global expansion, which not only enhances our price competitiveness but also allows us to command a premium for our advanced technologies."
Expanding on the company's diversification into the new energy sector, Gourineni emphasised that their success would be contingent on market development but could yield substantial long-term benefits. He highlighted the significant potential for growth in this segment.
Read Here | Battery waste recycling will touch 72 gWh to 81 gWh over the next seven years: CII report
Discussing Amara Raja's strong presence in the telecom sector, Gourineni stated, "We have been leaders in the telecom market since the late 80s. Our introduction of cutting-edge technology has enabled us to capture a substantial 60 percent market share. In fact, it can be said that every other telecom tower is powered by our batteries."
Gourineni also recognised the evolving landscape of the telecom industry, particularly with the rollout of 5G technology. He underlined their ability to continue supplying replacements for existing infrastructure while also integrating lithium battery packs into new cell towers.
This move towards lithium technology signifies Amara Raja's commitment to global expansion and innovation in the telecom sector.
In the 'Spotlight' segment, CNBC-TV18's Nigel D'Souza discussed HEG, a steel ancillary company, delving into their unique strengths and market positioning.
Also Read | CNBC-TV18 Newsbreak Confirmed: Nazara Tech to issue 14 lakh equity shares to Nikhil Kamath's companies
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
