Videotex, a home-grown original design manufacturer (ODM) for TV is aiming to be a Rs 1,000 crore company, doubling its topline in next four years, led by capacity enhancement and diversification into the growing appliances segment, a company official said.
The company, which does contract manufacturing for over 20 Indian and global brands for the domestic market, has plans to expand its capacity to 3.2 million units per annum, Videotex Director Arjun Bajaj said.
“Over the next four years, we aim to achieve Rs 1,000 crore in revenue by expanding our capabilities, diversifying our product portfolio in the appliances segment, and driving innovation through R and D,” Bajaj said.
The company, which operates two manufacturing units at Greater Noida, UP, had a revenue of Rs 409 crore for the financial year that ended on March 31, 2024 and expects to end the current fiscal year around Rs 470 crore.
“As part of a phased expansion, we have already reached an annual manufacturing capacity of 2.2 million units in Phase I. With Phase II, this will grow to 3.2 million units, further strengthening our presence in high-end LED solutions, including Mini LED TVs,” he said.
Videotex’s core focus for the last 40 years has been TV manufacturing, going through various technological changes from CRT (cathode ray tube) to LCD, LED, and OLED, it has evolved as one of the leading players in the ODM space.
Bajaj said he sees a “bright future” for its TV manufacturing business of Videotex as newer technologies are evolving in the sector.
“Investments on the capacities and the technologies that we have built, is not easy for just one brand to set it up.
It is a heavy investment.
So that’s why they look like they look at a strong partner like us who can continue, to build the design and block that capacity and continue to serve them,” he said.
Videotex has plans to manufacture larger screen sizes as 75-inch, 86-inch, and 100-inch models, catering to the premium segment.
On diversification, Bajaj said Videotex plans to add two to three new product categories, leveraging its strong brand relationships, expertise in product quality, and manufacturing excellence.
“On the manufacturing front, we will enhance our injection molding capabilities and integrate Artifical Intelligence for smarter manufacturing operations, aligning with cutting-edge technology solutions.
Additionally, we plan to onboard over 10 new brands in the LED TVs, reinforcing our position as a leading ODM player in the industry by FY 2028-29,” he said.
It is investing about Rs 100 crore to boost its R and D and manufacturing processes. Besides domestic, Videotex has plans to explore foreign markets in the next 2-3 years, though the main focus will be the domestic market, Bajaj added.
Videotex — the first Indian firm to become the official licensee for manufacturing TVs operated by LG’s webOS smart TV solution — also has presence in the original equipment manufacturer side through its TV brand Daiwa, which is mainly available on the e-commerce platform Flipkart.
Videotex manufactures webOS TVs for leading brands, including Lloyd, BPL, Hyundai, Akai, etc.
In addition, Videotex manufactures TVs for other brands such as Realme, Toshiba, Hisense, and over 20 other leading Indian and global brands for the Indian market.
