“Our Strategic Focus On Renewable Solar And Critical Power Backup Online UPS Segments Has Yielded Reasonable Growth”

“Our Strategic Focus On Renewable Solar And Critical Power Backup Online UPS Segments Has Yielded Reasonable Growth”

Microtek has achieved remarkable performance in CY 2023 performance. Anticipating a robust 2024 post-election period, the company commits to the predominant tech trend of alternative energy, primarily solar, with plans to expand its 75,000-strong nationwide channel partner network through incentive programs. Subodh Gupta, CMD, Microtek International interacted exclusively with DT to share plans for accelerating the growth in 2024.

DT: How would you assess your overall performance in CY 2023?

Subodh: Our performance in CY 2023 aligns with our expectations of moderate growth, influenced by lower power demand during the summer months, particularly in the northern region due to milder weather conditions. Our strategic focus on Renewable Solar and Critical power backup Online UPS segments has yielded reasonable growth.

DT: What are your expectations for business performance and market sentiments in 2024?

Subodh: We anticipate a significant uptick in business sentiment in 2024, following a year of moderate performance in 2023. The post-2024 election period is expected to boost the economy, shedding uncertainties associated with elections.

DT: Could you highlight two major tech trends expected to dominate in 2024?

Subodh: The predominant trend for the next decade will be alternative sources of energy, primarily solar. At Microtek, we are committed to offering a comprehensive product range with user-friendly, value-for-money solutions, catering to diverse segments, from domestic households to large-scale project installations.

DT: What is the current strength of your distribution channels, and how do you plan to enhance your partner network in 2024?

Subodh: Our network comprises over 75,000 strong channel partners nationwide, consistently expanding as we introduce channel benefit incentive programs across all product categories. Our robust channel strategy remains a key focus for enhancing our partner network in the upcoming year.

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