Epson India aiming for Rs 20 billion mark
April 2, 2019
Epson India’s Samba Moorthy (Credit: Computerworld.)
The OEM’s Indian subsidiary is hoping to cross the revenue threshold of Rs 20 billion ($289.9 million/€258.8 million) in the 2019-20 financial year, based on growth in all its product segments.
According to Business Standard, Epson India achieved a revenue of Rs 16.64 billion ($241.2 million/€215.3 million) in the 2017-18 financial year, and is expecting to finish the current fiscal year with revenue of Rs 18.9 billion ($274 million/€244.7 million).
Based on growth of 15-20 percent, the company’s total revenue for 2019-20 is forecast to be around the Rs 21.7 billion ($314.6 million/€280.9 million)– Rs 22.68 billion ($328.8 million/€293.6 million) mark.
“We are making a lot of operational improvements and changes to cope up with the evolving market,” said Epson India President Samba Moorthy. “In the current year, we estimate our growth to be around 14-15 percent and we aspire to achieve 15-20 percent growth in the next fiscal year. We are expecting this growth to come from all our product lines.”
According to a quarterly HCP market report from IDC, Epson India sold 201,565 inkjet printers in Q2 2018, a market-leading 47.7 percent of market share. As well as this success, the OEM is also designing products in a fashion that meets the United Nations Sustainable Development goals.
“Out of the 17 Sustainable development goals listed by the UN, we have chosen 13 sustainable goals,” elaborated Moorthy. “Our EcoTank printers offer low-cost printing and low power consumption. We are taking precautionary measures to meet these expectations. These are the two major driving forces for us to make big progress into the market.”
Explaining the company’s shift from cartridge ink to the EcoTank model, Moorthy said: “EcoTank printers are far more economical than cartridge models because of its affordability as the cost per print is 12 paisa for mono and less than 25 paisa for colour compared to Rs 3-4 ($0.04-0.05/€0.03-0.05) per print for a laser printer and Rs 5 ($0.07/€0.06) for colour in a cartridge printer.”
Business Standard further reports that 60 percent of Epson India’s total business came from its retail consumer segment, with the remaining 40 percent from its commercial segment, with the office segment representing a “big opportunity” for print business, according to Moorthy.
“A significant part of office printing is done through laser printers and we aim to transform that in the next three years,” he said.
The OEM currently has around 4,000 second-tier channel partners, a mixture of retailers and resellers.
“We will look forward to engaging more closely with the retailers so that the visibility can be far better and more enhanced,” Moorthy explained. “We will also concentrate largely on our system integrators. The key focus for us is to see how we can transform inkjet as a core technology in the office space by communicating the benefits of our inkjet printers as compared to laser.”
Categories : City News
Tags : Business Epson Epson India Financials India
