Salora International Ltd. Company Profile

Background

Overview

Salora International Ltd., established on November 20, 1968, is a prominent Indian conglomerate and the flagship company of the Jiwarajka Group. With over five decades of experience, Salora has solidified its position in the consumer electronics industry, offering a diverse range of products that enhance the entertainment experience of its customers. The company's mission is to create innovative, user-centric electronics that seamlessly integrate into daily lives, enriching experiences and connecting people globally. Its vision, encapsulated in the slogan "Technology For Happiness," emphasizes empowering lives through innovative technology solutions and leading transformative electronics experiences for consumer happiness.

Historical Milestones

1968: Incorporated as Electronic Consortium Pvt. Ltd.

1989: Renamed to ECp Ltd.

1992: Rebranded as Salora International Ltd.

1993: Became a public listed company.

1994: Established a technical collaboration with Matsushita Electric Industrial Co. Ltd. (Japan) to manufacture color televisions and audio systems under the Panasonic brand.

2011: Launched the Salora brand mobile phone and 3G data card.

2017: Introduced new ranges of LED TVs, CRT TVs, mobile phones, home theaters, and speakers.

2021-22: Launched a 55-inch UHD TV model based on WebOS and new models of semi-automatic washing machines with advanced features.

Key Strategic Focus

Core Objectives

Salora International Ltd. focuses on delivering superior quality electronics that offer exceptional value and unrivaled performance. The company aims to foster long-term relationships with customers by continuously innovating and integrating the latest technologies into its product offerings.

Areas of Specialization

The company's diverse product portfolio includes:

Consumer Electronics: LED televisions, mobile phones, smartphones, washing machines, refrigerators, air conditioners, and audio accessories.

IT and Telecom Products: Laptops, smartwatches, and other related accessories.

Lifestyle Products: Insulated bottles, food jars, and crystal glassware.

Key Technologies Utilized

Salora integrates cutting-edge technologies into its products, such as:

WebOS: Utilized in their 55-inch UHD TV model to enhance user experience.

Advanced Audio Solutions: Partnerships with companies like SRS Labs Inc. for innovative audio and video technology solutions.

Primary Markets Targeted

Salora primarily serves the Indian market, catering to the consumer electronics, telecom, IT, and lifestyle sectors. The company also has a presence in international markets, exporting products and collaborating with global partners.

Financials and Funding

Funding History

Salora International Ltd. became a public listed company in 1993, raising capital through its maiden public issue. The company is listed on the Bombay Stock Exchange (BSE) under the ticker symbol 500370 and on the National Stock Exchange (NSE) under the symbol SALORAINTL.

Recent Financial Performance

Fiscal Year 2023:

Total Revenue: ₹19,051 lakh, a 60.08% increase from the previous year.

Profit/Loss: Net loss of ₹252 lakh, a 137.28% decrease in profitability.

Net Worth: ₹8,383 lakh, a 13.39% decline.

Utilization of Capital

The capital raised has been utilized for:

Expanding manufacturing capabilities.

Research and development initiatives.

Diversifying product offerings.

Strengthening distribution networks.

Pipeline Development

Product Development

Salora continues to innovate and expand its product line, with recent developments including:

Televisions: Launch of a 55-inch UHD TV model based on WebOS.

Home Appliances: Introduction of new models of semi-automatic washing machines with advanced features.

Target Conditions

The company aims to address the evolving needs of consumers by offering products that combine the latest technology, user-friendly features, and stylish design.

Timelines for Milestones

Salora has a history of timely product launches, with recent introductions in 2021-22. Future product development timelines are aligned with market demands and technological advancements.

Technological Platform and Innovation

Proprietary Technologies

Salora has developed proprietary technologies in television manufacturing, including:

Zero Alignment Product (ZAP) Technology: Introduced in the X-Cite series of CTVs.

Significant Scientific Methods

The company employs advanced manufacturing processes and quality control measures to ensure product reliability and performance.

Leadership Team

Key Executives

Gopal Jiwarajka: Chairman & Managing Director.

Tarun Jiwarajka: Chief Financial Officer.

Paramartha Saikia: Director.

Rachna Lodha: Director.

Professional Backgrounds

Gopal Jiwarajka: Leads the company's strategic initiatives and overall management.

Tarun Jiwarajka: Oversees financial planning and management.

Paramartha Saikia and Rachna Lodha: Contribute to corporate governance and strategic decision-making.

Key Contributions

The leadership team has been instrumental in:

Driving product innovation.

Expanding market reach.

Ensuring financial stability.

Leadership Changes

In September 2024, Rachna Lodha was appointed as a Director, bringing fresh perspectives to the board.

Competitor Profile

Market Insights and Dynamics

The consumer electronics market in India is highly competitive, with rapid technological advancements and evolving consumer preferences. The market is characterized by:

Increasing demand for smart and connected devices.

Growing emphasis on energy-efficient and eco-friendly products.

Expansion of online retail channels.

Competitor Analysis

Key competitors include:

Safa Systems & Technologies: Focuses on mobile devices and accessories.

Khaitan India: Specializes in home appliances and electrical products.

MIRC Electronics: Known for its Onida brand of televisions and home appliances.

Elin Electronics: Engages in the manufacturing of electronic products and components.

Strategic Collaborations and Partnerships

Significant Collaborations

Matsushita Electric Industrial Co. Ltd. (Japan): Technical collaboration for manufacturing color televisions and audio systems under the Panasonic brand.