Going with the trend and keeping its market position UVAL has started developing LED lamps solution for Automobile lamps and has already Tied up with two major LED Manufacturers in Taiwan and one innovative IC manufacturers from China. This collaboration has given a leading edge to us for developing new products and Introducing the same to retail market and OEM simultaneously.
M/s UVAL has also take a giant leap by collaborating with two major LED filament lamp manufactures i.e. from China and Philippines. UVAL shall be launching LED filament lamps which contains a LED technology advantages as well as it retains normal 360ºC light pattern which we all are used to using normal house lamps.
UVAL is fore casting reserved but systematic sales growth in the automobile retail market with annual sales growth in new segment around 10 Million Rs for the year 2017-2018 with added growth forecast of 100% YOY till 2021. UVAL has sensed a fantastic opportunity in LED filament house lamps segment and company shall be Investing appx.
60 Million Rs phase wise including P&M establishing Production base for Europe & USA, New factory land and building along with technical collaboration. UVAL has already acquired BIS certificate required to import and trade the product for now till the production in India starts.
Turnover projections for house LED filament lamps is projected at 20 million Rs. For 2017 and Company is expecting a huge jump in the turnover in next 5 years till 2022. Company expect the annual sales of 6 million Rs for the year 2018 and then appx. 100% growth YOY till the year 2021/2022.
Currently UVAL is the largest manufacturers of automotive lamps for instrument clusters in india and Also no.2 in terms of automotive signalling and parking lamps considering OEM market. UVAL has step by step increased the product portfolio and simultaneously increased its capacity to cater Indian OEM market. UVAL also tends to start its own distributor network to tap the retail market of automobile lamps which remains untouched so far. UVAL is projecting to add M/s HONDA, M/s Royal Enfield in the customer portfolio and which shall be the growth triggering segment for the Coming two years.