Polycab, the electrical goods firm with the launch of its new brand HOHM, is foraying into the Internet-of-Things (IoT) product portfolio in its consumer durables business.
As per news source, Gandharv Tongia, Chief Financial Officer of Polycab, said that IoT product portfolio will have products which can be operated from any device, be it a mobile phone or laptop.
“Our products under HOHM can take artificial intelligence to the next level. They are being launched this month. Each individual can set rules for each appliance, depending on his/her preferences,” he added.
For example, water could be heated at a particular time of the day in a particular temperature setting. Similarly, your fan could be set to a particular speed or lights dimmed while you are watching television at a fixed time.
He said that the majority of the products will be manufactured in India and the existing range of products like water heaters, lights and fans could be tweaked to become IoT-compliant under
In the third quarter which ended in December, Polycab registered 19% YoY growth at Rs 263.6 crore. Revenue grew by 12% YoY to Rs 2,798.8 crore.
He also added that the FMEG (fast moving electrical goods) business grew by 40% YoY to Rs 305.5 crore last year and 25% sequentially.
“The real estate revival is helping the company. Similarly, home renovation taken up by retail customers due to work-from-home is also helping FMEG business. We hope that the B2C business will continue to grow at a healthy rate,” he added.
