The Torrent Group, a diversified conglomerate with major holdings in pharmaceuticals and power, has announced a significant foray into the consumer electricals space through its new venture, Torrent Electricals. The company is entering the competitive housing wire segment with a planned investment of over ₹1,000 crore over the next five years, aiming to secure a substantial share of the rapidly growing market.

New Manufacturing Hub in Gujarat

At the core of this strategic expansion is the establishment of a large-scale, state-of-the-art manufacturing facility. Torrent Electricals has signed a Memorandum of Understanding (MoU) with the Gujarat government to set up the plant at Dholera Special Investment Region (SIR). The project, which is expected to create employment for over 5,000 people, will be developed on a 200,000-square-metre plot. The company plans to lay the foundation stone within the next three to four months, with the first phase of the plant projected to be commissioned between 2025 and 2027. Once operational, the facility is expected to have an initial production capacity of up to 200,000 coils per month. The investment will be funded through a combination of internal accruals and debt.

Tapping a High-Growth Market

Torrent Electricals' entry is timed to capitalize on the robust growth of the Indian housing wire market, which is currently estimated to be worth over ₹25,000 crore. The segment, the largest within the Indian cables and wires industry, is projected to expand at a Compound Annual Growth Rate (CAGR) of 12-15% over the next five years. By leveraging the Torrent Group's established brand reputation and distribution strengths, the new venture aims to become a key player in the sector.

Brand Strategy and Future Plans

The company will launch its products under the 'TORRENT' brand name and has signed actor Salman Khan as its brand ambassador to drive consumer engagement. The initial rollout will target 10 states, with a gradual expansion planned across the country. This move into housing wires is the first step in a broader strategy for Torrent Electricals, which intends to subsequently expand its product portfolio to include other consumer-facing electrical goods such as fans, lighting, and switches at an appropriate time.