“Our Key Business Objective Is To Establish A New Manufacturing Plant”
With resilience at its core and disruption on its horizon, Super Plastronics Pvt. Ltd. (SPPL) has defied industry headwinds to chart a bold growth path. Mr. Avneet Singh Marwah, Director & CEO, shares how the company overcame a turbulent 2024 through strong performance, strategic manufacturing investments, and an expanding offline footprint. He also sheds light on how SPPL is strategically positioned to lead the next wave of innovation in consumer durables.
Rajeev: How did your business perform in CY 2024? What were the key factors that contributed to this success?
Avneet: Following the pandemic, 2024 was one of the most challenging years for the consumer durables industry. However, I believe SPPL navigated these challenges exceptionally well, we succeeded despite market uncertainties. Certain segments and product categories even achieved phenomenal double-digit growth, which is a significant accomplishment despite the market conditions.
Regarding the key factors behind this success, large domestic appliances—particularly washing machines, including semi-automatic, top-load, and fully automatic models performed tremendously well. Apart from that, we launched air coolers last year and received a fabulous market response. We have also successfully established in-house, end-to-end manufacturing for air coolers, further strengthening our position.
While television sales saw minimal growth, we are optimistic about the future and anticipate significant expansion in the coming years. This year, we are preparing for major industry disruptions.
Rajeev: What are your key business objectives for 2025? How do you plan to achieve them?
Avneet: Our key business objective is to establish a new manufacturing plant for televisions and air conditioners, and the entire organization is aligned toward achieving this goal. We are actively expanding our presence in the large domestic appliances segment while also launching new television models, aiming to drive innovation and disruption in the market.
Our strategy focuses on widening the top of the funnel by attracting the best opportunities while simultaneously strengthening our bottom line. Striking the right balance between growth and profitability remains a top priority for SPPL, and we are committed to achieving significant milestones in the 2025-26 financial year.
Rajeev: What new opportunities do you foresee emerging in your industry?
Avneet: We have observed several shifting market trends, prompting us to expand our presence in the large domestic appliances category. Our focus is on segments with low penetration, where we believe Thomson has a strong opportunity to penetrate itself. This year, we are introducing a new category while also strengthening our existing product lines.
Our strategy for the year revolves around two key objectives. First, we aim to enhance our entry-level offerings to make high-quality products more accessible. Second, we are committed to the 'premium affordable' segment, delivering ultra-premium products at affordable pricing.
Rajeev: What is your current channel strength, and how do you plan to enhance your channel ecosystem in 2025?
Avneet: We are one of the few brands with a strong presence both online and offline. We have invested heavily in infrastructure, with more than 25 warehouses and approximately 20 offices across India. Our growth has been tremendous, not just in the online space but also in offline markets. Currently, our offline business is expanding at a rate of over 150%, and this year, we plan to further strengthen our offline presence. By the end of the year, we aim to be available in more than 25 states.
Rajeev: What new product categories or services are you planning to introduce in 2025?
Avneet: We will be adding a new category to our 2025 portfolio, which is crucial for the large domestic appliances segment. Additionally, another significant category will be introduced next year, making this a pivotal period for us. This marks an important milestone, as the new category is one of the largest in the large domestic appliances sector.
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