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Goldmedal Electricals

Topic: Company

 From HandWiki - Reading time: 4 min
Goldmedal Electricals Pvt. Ltd.
TypeNot listed
IndustryElectrical equipment
Founded1979[1]
FounderOtmalji Goraji
HeadquartersMumbai , Maharashtra
Area served
India
Key people
Kishan Jain
(Director), Bishan Jain
ProductsFast Moving Electrical Goods
Revenue₹1,400 crore (US$200 million) (2018-19)[2]
Number of employees
1,200
Divisions
Websitegoldmedalindia.com

Goldmedal Electricals Pvt. Ltd. is one of the leading home-grown fast moving electrical goods company in India. Established in 1979, the company offers a wide range of electrical products including LED lights, modular switches, home automation systems, entertainment devices, security systems, wires & cables and electrical accessories for residential and commercial establishments. Goldmedal Electricals is headquartered in Mumbai , Maharashtra[3] and has a pan India presence with branches in all 29 states of India. The company has 13 company-owned experience centres across the country.

History

Otmalji Goraji was an entrepreneur who had started different businesses over his lifetime. In 1979, after a brief stint in the garments and hosiery business, Otmalji along with his son Jugraj Jain, started trading in electrical switches and wires in a small shop in Vijayawada, Andhra Pradesh. In the early days, it traded switches and wires of then popular brands like Anchor, Sona, and SSK. In 1981, Goldmedal started marketing wires and cables under the Goldmedal brand name. From 1990, Goldmedal entered into the manufacturing of urea switches and border switches by setting up its first factory in the Goregaon suburb of Mumbai.

In 2001, the company started manufacturing polycarbonate switches and launched its first series of switches called the G-Magic. In 2007, the company established a factory for manufacturing of wires and cables in Bhiwadi, Rajasthan.[4] In the years since then, Goldmedal ventured into various product categories and expanded the business to include LEDs, PVC pipes, home accessories, MCBs, DBs, home automation products etc. Between 2015 and 2020 the company established its offices in all 29 states of India and connected them through a custom-built ERP system to make all information regarding inventory, sales, and dispatch available to the relevant people.

Manufacturing facilities

Goldmedal has a 5 lakh sq. ft manufacturing facility at Vasai, near Mumbai. The plant has facilities for product designing, testing, product assembly, quality check and packaging with a warehouse and dispatch facility of 1.5 lakh sq. ft. each. The facility has production capacity of over one lakh switches per day. A second manufacturing unit is located in Bhiwadi, Rajasthan, that produces wires and cables. This facility manufactures categories of wires like Zero Halogen Low Smoke (ZHLS) wires and Heat Resistant Fire Resistant Lead Free (HRFRLR) wires. The company’s third facility is in Vijayawada, Andhra Pradesh for manufacturing of PVC conduits, fittings and accessories.[5] In August 2019, Goldmedal announced that it plans to set up another facility in Hyderabad, Telangana.[6]

Product list

  • Modular Switches and Systems
  • Home Automation Systems
  • LED luminaires
  • Fans
  • Wires and cables
  • DBs and MCBs
  • Entertainment systems
  • Doorbells
  • Electrical accessories[7]

Marketing

The company has promoted its brand through sponsorship of films like Zero[8] and Toofan and through musical events like Indradhanush, the Colours of Life, concert by Amit Trivedi, etc.[9] The company has also partnered with Paytm to launch an exclusive app-enabled loyalty scheme for their channel partners called Dhan Barse. This scheme is designed to bring all company associates from dealers to counter boys under one digital umbrella.[10] The company also has launched many experience centres across India for its customers to experience the product lines. These centres offer a complete overview of the wide range of products and their functions to customers, dealers and retailers. The company launched its Wireman mascot in the year 2019.[11]

Awards

  • Kishan Jain, Director, Goldmedal Electricals was awarded the Outstanding Young Indian Award by Junior Chamber International (JCI) in September 2018.
  • In December 2019, Goldmedal won the Economic Times Promising Brands Award, 2019.
  • The directors of Goldmedal Electricals were felicitated with ET Business Icons West 2020 award in their effort in bringing innovation in the electrical segment.[12]
  • Goldmedal won four consecutive Best Stall Design awards at India’s premier construction exhibition event, the Economic Times Architecture and Construction Exhibition in 2015-16 at Ahmedabad, Bengaluru, Mumbai, Delhi.[13]

References

  1. ↑ "Error: no |title= specified when using {{Cite web}}". https://www.goldmedalindia.com/about. Retrieved 27 May 2020. 
  2. ↑ Aug 9, TNN. "Mum-based Goldmedal Electricals to invest Rs 125 cr in Hyd appliances unit | Hyderabad News - Times of India" (in en). The Times of India. https://timesofindia.indiatimes.com/city/hyderabad/mum-based-goldmedal-electricals-to-invest-rs-125-cr-in-hyd-appliances-unit/articleshow/70595201.cms. 
  3. ↑ "Electrical maker Goldmedal eyes 40% revenue growth in FY20". Moneycontrol. 13 June 2019. https://www.moneycontrol.com/news/business/companies/electrical-maker-goldmedal-eyes-40-revenue-growth-in-fy20-4096151.html. 
  4. ↑ Bureau, Our. "Goldmedal Electricals to set up ₹ 125-cr plant in Hyderabad" (in en). Hindubusinessline. https://www.thehindubusinessline.com/companies/goldmedal-electricals-to-set-up-125-cr-plant-in-hyderabad/article28896962.ece. 
  5. ↑ Bureau, Our. "Goldmedal Electricals to set up ₹ 125-cr plant in Hyderabad" (in en). Hindubusinessline. https://www.thehindubusinessline.com/companies/goldmedal-electricals-to-set-up-125-cr-plant-in-hyderabad/article28896962.ece. 
  6. ↑ India, The Hans. "Goldmedal Electricals to set up plant in Hyderabad" (in en). The Hans India. https://www.thehansindia.com/amp/business/goldmedal-electricals-to-set-up-plant-in-hyderabad-553162. 
  7. ↑ "Goldmedalindia | Products". https://goldmedalindia.com/blog/category/products/. 
  8. ↑ CarryMinati (20 December 2018), Bye Pewdiepie | Carryminati, https://www.youtube.com/watch?v=PEFcktTI70A, retrieved 1 June 2020 
  9. ↑ "Amit Trivedi’s desi beats roll in Chennai". The New Indian Express. https://www.newindianexpress.com/entertainment/hindi/2020/jan/27/amit-trivedis-desi-beats-roll-in-chennai-2094883.html. 
  10. ↑ "Goldmedal Electricals partners with Paytm to launch Dhan Barse mobile app" (in en). Deccan Chronicle. 30 July 2019. https://www.deccanchronicle.com/technology/in-other-news/300719/paytm-launches-dhan-barse-mobile-app.html. 
  11. ↑ "Goldmedal Electricals launches a new mascot". Realty Plus Magazine. 16 May 2019. https://realtyplusmag.com/goldmedal-electricals-launches-a-new-mascot/. 
  12. ↑ "Goldmedalindia | Goldmedal wins Economic Times Promising Brands Award, 2019". https://goldmedalindia.com/blog/goldmedal-wins-economic-times-promising-brands-award-2019/. 
  13. ↑ "Goldmedalindia | Goldmedal Wins 3 Mega Grand Stand Awards @ Acetech 2016". https://goldmedalindia.com/blog/goldmedal-wins-3-mega-grand-stand-awards-acetech-2016/. 

External Links

https://goldmedalindia.com/ (Official Website)




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