Goldmedal Electricals is a home-grown fast-moving electrical goods (FMEG) company which was established in the year 1979 with a vision to create electrical switches and accessories that make a positive difference to the lives of consumers. In 1981, Goldmedal entered the wires and cables business. In 1995, the company set up a state-of-the-art manufacturing unit in Goregaon, Mumbai for the manufacturing of wires and cables and modular switches. Alongside wires and cables, Goldmedal today manufactures a range of electrical products including various types of switches, home automation systems, security systems, entertainment devices, door bells, wires, cables and more for residential buildings as well as commercial establishments.
How Goldmedal’s business has scaled in last one year
With a turnover of Rs 1,400 crore last financial year, we have been growing at a healthy rate of over 40 per cent per annum. While our range of modular switches continue to be the star performer, this year we have expanded our product portfolio with the launch of LED lighting range. Additionally, we are gearing to set up a plant in Hyderabad to manufacture fans. The results yielded so far are promising and we are optimistic about achieving our target turnover of Rs 2,000 crore in the next financial year.
We have had a steady growth rate so far and are driven to deliver the best results even in this challenging economic environment. There are some exciting projects in the pipeline, most notably, the launch of Goldmedal fans.
At Goldmedal, our focus has been on manufacturing products that are innovative, reliable, environment-friendly and made in India. We believe in sustainability and have adopted strategies to ensure that we cause minimal negative impact on the environment. Our factories, warehouses and offices function to control the company’s carbon footprint, energy consumption, water usage and waste production. Goldmedal is proud to be a company that manufactures products in India contributing to the ‘Make in India’ initiative.