EVM India adds 100 new products this fiscal

Mumbai: In 2008, EVM India was started with a vision to improve the lives of people by giving them easy access to latest technology smart value products. It has a range of products including consumer durables, IT and mobile accessories. It already exists in the B2B market and has a strong distribution channel, which it is planning to leverage and at the same time position as a new-age tech company.

The company is seeking for a change of perception of consumer's decision by providing efficient and reliable products which also stand out as a product brand which cares for every consumer's need. In an interview with Bizz Buzz, Vishal Hundia, CEO, EVM India, shares his plans to achieve more premium quality products for Indian consumers.

How is the business in new post Covid era?

The year 2020 had been a dreadful year and will be inked in the history of the Indian manufacturing Industry since the most impacted sector during the pandemic was the manufacturing sector. The industry had observed a steep decline in production due to the global pandemic-driven shutdown. Mostly, all the businesses across sectors bore the brunt of the crisis but having said that different segments with the manufacturing class were hit severely.

Some segments went through the darkest phase which ultimately had a ripple effect throughout causing turmoil in the value chain part. However, 2021 embarked on a new progressive journey for the manufacturing sector since it witnessed an uptick in the growth graph amid improved demand and eased covid restrictions. Further, it has gained more confidence in November and observed a strong increase in production and sales in the past few months. We achieved the revenue of Rs 100 crore in the first half of FY22, with diversified contributions from USB drives, solid-state drives (SSDs) and telecom segment.

What are the expansion/ business plans for EVM India?

We have just announced Rs 5-crore fresh investment to enhance quality and introduce new products. We aim to reach Rs 200 crore in revenue by the end of this fiscal. Further down the line, we would wish to enter into the smart wearable segment including fitness bands and smart watches. We have added more than 100 new products in the current fiscal year.

With new investment in research and development, we aim to achieve more premium quality products which are exclusively designed for Indian consumers.

What are the new products in the pipeline?

We aim to increase our market presence in the IT and telecom segment with the launch of new advanced products in various categories including SSDs, gaming modules, server modules, bluetooth speakers, True Wireless Stereo (TWS) audio products, gallium nitride (GaN) chargers, cables and chargers.

Is there any support from the government to build India as a manufacturing hub?

The manufacturing industry is expected to operate full-fledged in the coming quarters since it has set a target of $400 billion in merchandise exports in 2021-2022, which is something achievable when government and industry synergize and work in tandem. To boost the manufacturing sector and make India the manufacturing hub, the government has relaxed the excise duties on factory gate tax, capital goods, consumer durables, and vehicles.

Tell us about EVM India's manufacturing facility with regards to its location, size, capacity, product portfolio and so on.

EVM is built with the vision to meet new horizons and combat challenges with competence and dynamism. In keeping with this, we leveraged the latest innovations in technology to build futuristic manufacturing setup that live up to the current market trends and meet the rising needs of our customers.

Our well-equipped manufacturing unit is based out of Vasai in Mumbai and excellent quality control throughout all stages of production enable us to guarantee total customer satisfaction. Our manufacturing facility is dynamically made with pilot plants. It consists of over 60,000 sft of factories' area, nine assembly/ manufacturing lines and more than 200 employees.

EVM India manufactures and distributes a variety of IT and telecom equipment, such as powerbank, cables, neckbands, and bluetooth speakers. We have monthly capacities for manufacturing 50,000 powerbanks, 5 lakh cables, 50,000 neckbands and 5,000 bluetooth speakers.

How much investments have you made for the same so far?

We have invested a total of $2 million in order to construct a robust manufacturing infrastructure with a well-trained talent pool and cutting-edge technology to create distinctive goods that add value to the lives of consumers.

Tell us about your R&D and design capabilities.

In order to cater to the rising customer demands and shrinking timelines, we are continuously striving to enhance the efficiency of our resources. With the belief that innovation, quality, and productivity are the key drivers of success, we remain dedicated to the sustainable growth of the company. We have a robust dedicated 4-5 person R&D team.

Presently, we are now developing wearable watches. We are witnessing smart wearables as the future of watches, and we are investing heavily in research and development to create devices that will do things that a smart watch cannot do today, such as switching off the AC before arriving home, CCTV monitoring, locking and unlocking doors, making payments, operating TV, and much more, to improve the consumer's lifestyle.

Currently, what is your market share and what is your target for the next two years?

We operate in a highly competitive business, as well as a market where consumers are both demanding and price conscious. Because the market is fragmented among various players, consumers are increasingly focusing on the one thing that matters: high quality at a reasonable price. We primarily aim product improvement as a catalyst for high penetration rate as a company that is continually working on innovation and expansion.

Currently, the brand's market share in the telecom accessories industry is 1-2 per cent. We target to increase it to 4-5 per cent in the next two years.