The Torrent Group, a diversified conglomerate with interests from pharma to power, has announced a major foray into India's housing wire segment through its new venture, Torrent Electricals Pvt Ltd. The company is investing over ₹1,000 crore to establish a significant presence in the market, with the ambitious goal of becoming one of the top five players within the next five years.

This strategic diversification into the B2C housing wire market is backed by a substantial financial commitment. Ankit Jain, Executive Director of Torrent Electricals, detailed that of the total investment, approximately ₹200 crore is allocated for manufacturing facilities, with the remainder earmarked for working capital, marketing, and branding over the next five years. The company projects revenues of ₹300 crore in the current fiscal year, with a long-term turnover target of ₹3,500-₹4,000 crore.

To support this expansion, Torrent Electricals has already commissioned a state-of-the-art manufacturing plant in Dahej, Gujarat. The facility is operational with a production capacity of 10 lakh coils per month. The product line will be launched under the 'Torrent' brand and will include specialized products such as fire-retardant, fire-retardant low-smoke, and fire-retardant low-smoke and low-halogen wires.

The move targets the domestic housing wire segment, estimated to be worth between ₹20,000 crore and ₹25,000 crore and growing at a CAGR of 12-15%. Company officials noted that the market is largely unorganized, presenting an opportunity for a trusted brand to offer superior quality, reliability, and safety.

“With a legacy of excellence and trust in the power sector, Torrent is poised to make a significant impact in the housing wire segment,” said Gaurav Jain, Director at Torrent Electricals. “Our investment underscores our commitment to 'Make in India' and capturing a leading position in the domestic market.”

Torrent Electricals plans a phased rollout, initially launching in Gujarat, Rajasthan, Madhya Pradesh, and Maharashtra. The company will leverage the existing distribution network of its power utility arm, Torrent Power, while simultaneously building a dedicated network for its wire products, aiming to onboard 2,000 distributors by March 2025. The ultimate objective is to establish a pan-India presence within five years.