The company, which primarily gets revenue from the water purifier business, is diversifying its product portfolio by launching technology products like artificial intelligence-based touchless face attendance system, which it introduced on Wednesday.
The Noida-headquartered firm has plans to roll out several such tech-based products in the coming months targeting consumers and institutional customers, and expects a contribution of around Rs 200 crore from this segment, the company official said.
"This year we plan to do a business of Rs 1,200 crore of which Rs 200 crore would come from appliances and tech business," Kent RO Systems Chairman & Managing Director Mahesh Gupta told PTI.
He further said, "The company would grow by 20 per cent from products like CamAttendance. The growth would not come from the existing products but from the new products which we are introducing.”
The company had a turnover of around Rs 1,000 crore and the water purifier business contributed 85 per cent to the revenue and the rest came from its home appliances and tech-based products business.
"Though we would keep introducing new models in the water purifier business but its share would keep reducing as new products would be introduced," Gupta added.
According to him, the company expects a good volume of business to come from this segment.
"The tech industry is to grow and we have created a department into that. We are going to come with some more exciting solutions for our camera-based products tech area for offices. Some exciting products are on cards now," he added.
The company said consumers are shifting towards health & hygiene-related products and it believes that demand for its water purifier business products would increase due to the COVID-19 pandemic.
When asked whether the company has any plans to list on stock exchanges, Gupta said, "Not in the near future."
KENTCamAttendance, is an artificial intelligence-based touchless attendance system. It is an extension of its AI-based product portfolio which was launched last year with KENTCamEye.
It uses AI-based computer vision to capture and recognise the face of an employee for attendance purpose. It is managed via a secure cloud application that stores employee records and employee photos and data which can be integrated seamlessly with existing HRMS.
According to Gupta, it is designed and manufactured in India with data and servers also residing in India.
Kent RO, which is one of the leading players in the RO water purifier category, has expanded into several product categories such as air purifiers, water softeners, cooking appliances and vacuum cleaners. PTI KRH MR MR
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI