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Microtek Tapping Into Solar Business, Sees Ample Opportunities Ahead

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Microtek, one of India’s first monitor makers, followed by inverters and parent company of Okaya Electrics, has set its eyes on a huge expansion push, with solar playing a vital role.

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The company highlighted important intentions to ride the solar wave at a channel event in New Delhi, where it also built up a complete 18 KW system to demonstrate its capabilities in the field.

Saurabh Gupta, Director of the company, highlighted that while it planned to enter the panel manufacturing business in future, the company’s current emphasis is on its inverter and storage business. 

On the solar front, Gupta is emphatic that the group’s primary focus will be on rooftop solar, as their string inverter series was intended for this purpose. It will concentrate on becoming a high-quality provider of critical electrical components, such as cables and circuit protection devices.

The company also has a significant presence in the EV market through its subsidiary brand OKAYA, which allowed it to showcase both Okaya’s latest electric scooter and its own EV charging station.

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It intends to continue expanding its distribution network in order to gain solar clients both from its existing customer base and from future acquisitions.

“Having a brand name that people recognized and could trust, along with the guarantee of our warranties, helped us perform significantly better and build a distribution reach that would have taken years otherwise,” he added.

He believed that the battery industry with Okaya, which manufactures both lead-acid and lithium-ion batteries and presently serves mostly the E-rickshaw sector, will eventually shift to stationary storage as well.

The company’s newly launched inverter and home UPS products, the LUXE LCD Home UPS series, were on exhibit, with capacities varying from 800 VA in 12V to 1600 VA in 24V SW in pure sine wave technology. 

The imerlyn premium UPS series was also presented, which constitutes Pure Sine wave (850 12V SW, 1250 12V SW, and 1850 24V SW) and Advanced Digital (850 12V DG, 1050 12V DG, 1250 12V DG, and 1850 24V DG) versions.

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The company’s existing share in the inverters and home UPS category is 40%, but with new products’ debut, starting at Rs 6,240, the company is hopeful of achieving a 50% market share.

The company is aiming for sales of Rs 1600 crore in FY 2022 and strives to sustain a healthy growth rate in the future thanks to its electricals and solar business.

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