Briefly tell us about the origin of Goldmedal Electricals.
Goldmedal Electricals was established in 1979 in Vijayawada, Andhra Pradesh. My grandfather, Otmalji Goraji was an entrepreneur who started the business with a capital of Rs.2.5 lakh. In the early years, our company traded switches and wires of then popular brands like Anchor, Sona and SSK.
How’s been the journey since then for the organisation?
It has been an incredible journey since the inception of our venture. What started out as a small trading business has now evolved into a company that manufactures almost everything that a modern home or office needs in terms of wiring devices. Our annual turnover in 201819 was Rs.1,400 crore. Today, we are a pan-India brand with presence in all 29 states of India, offices in each state, over 20,000 direct dealers and over one lakh retailers.
What is your analysis of the Indian electrical industry? Where do you think Goldmedal Electricals stands in terms of market position?
The Indian electrical industry is a rapidly growing one. In such a fastpaced industry, we believe we have made a mark by manufacturing products that are in keeping with the needs of our customers. We ensure that our products are not only innovative in terms of design and usability but are also cost-effective. By innovating with India-centric needs in mind, we are ensuring that innovation happens from an Indian perspective. Whether it is home automation with zero wire change, detachable LEDs, toughened glass plates, remote-controlled doorbells, etc., we ensure that product innovations take place with Indian conditions and needs in mind. This has garnered us a reputation for manufacturing international quality products that are available at an affordable price point. We believe we are amongst the top five Indian brands in terms of quality and market position.
How has the Covid-19 outbreak affected the industry as well as Goldmedal Electricals and how are you dealing with the same?
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August - September 2020