Friday, Mar 29 2024 | Time 12:40 Hrs(IST)
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Business Economy


SHIL forays into ceiling fans category, launches 3 variants

Hyderabad, Mar 4 (UNI) To strengthen its presence in the consumer appliance segment, Somany Home Innovation Ltd (SHIL), makers of ‘Hindware Appliances’ has forayed into the ceiling fans category under the Hindware Snowcrest brand by launching three variants in this segment here on Wednesday.

The total fans market size in the country was Rs 8,000 crore , with 110 million units sold every year, and our target to grab 5 per cent market share in the next 4 years, SHIL CEO and Whole Time Director Rakesh Kaul said at a press conference here.

The fans are available in a lineup of six models under three categories-- Premium, Decorative and Classic, price range from INR 1499 to INR 2999, he said that all are available at modern trade outlets and e-commerce portals.

The fans come with a two-years warranty and the fans are dust-resistant and have aerodynamic blades for even air distribution, optimum air delivery at low voltage and among others, he claimed.

“Our entry into ceiling fans category segment is backed by consumer insights, our wide established distribution Channel, R&D and product development to cater to our growing customer base, Mr Kaul said in the next three-four months, we will be launching the entire range of fans including table fans, exhaust and wall fans.

Hindware Appliances is one of the fastest growing consumer segments with products ranging from water heaters and water purifiers to air coolers, air purifiers, extractor fans and kitchen appliances.
While referring to turnover, he said SHIL would touch between Rs 530 crore to Rs 540 core by the end of this fiscal and as per India Electric Fan market outlook 2022, the revenue for organized electric fan market is growing with a CAGR of more than 10 per cent as compared to the last five years.
Currently, SHIL has a network of over 9,250 plus retailers and modern retail outlets, 575 plus trade partner network and over 200 plus distributors.
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