Success lies in energy efficiency: ECCO

June 17, 2013 9:13 am

“The manufacturing of small capacity solar panels is one of the major shortcomings; therefore, we are looking for the opportunity wherein we can develop solar panels here itself”
– Ramendra Baoni, Founder and Chairman, ECCO Electronics
ECCO Electronics is a manufacturer of electronic products which are highly efficient as these are based on solar power such as solar lamps, solar power pack and home lighting. These products are reliable since the intake of voltage is very low and can also withstand large fluctuations. Ramendra Baoni shares about the performance of ECCO and how the company is performing better every year.
ECCO productsECCO is renowned in the market for developing ergonomically designed, user-friendly products. Its ECCODIVA is designed for multiple purpose use to cater to a large requirement for electricity, especially for people who have limited or irregular access to other forms of electricity.
Performance and achievementsLast year’s performance of the company highlights the innovation and invention of ECCODIVA. The first version of the product, which has been developed and launched in the market in the last financial year, has already outdone the cost incurred in developing the product both financially and in goodwill.
Its last year’s financial performance is evident through its turnover of $1 million. Not only that, the company is further looking to rule the market with the junior version of its ECCODIVA. ECCO also has received CII Design Excellence Award, India Design Mark Award, and Designomics Award.
Challenges for manufacturing ECCO has to import certain components of its products as manufacturing is not easy in India, especially small capacity solar panel as huge taxes and duties are involved. Even the retail market in India is poor in this industry as there are infrastructural logistic gaps in product distribution.Factors to perform betterMeasures to perform well are generally simple for a manufacturing company. But like every other industry, this industry too has one or two specific key points to look at and then other factors come into play. One of the most important measures to perform better is how energy efficient the products are. Then there are other factors like quality of the products. Even the durability, affordability and utility of the product also determine the life of products in the market, thus help in sustaining company in the industry.
Constraints attacking strategiesThe manufacturing of small capacity solar panels is one of the major shortcomings; therefore, ECCO is looking for the opportunity wherein it can develop the solar panels here itself. Also, lithium ion batteries have a huge demand in this industry and this is something ECCO would like to venture in.
Big initiativeECCO has taken several initiatives in the last 1 year. The big step it took was to get the industry leaders to be part of its board of directors. In R&D, ECCO is looking to build lithium ion batteries which are more eco-friendly. It also ventured in African market.
India as 5th largest manufacturing countryIndia is undoubtedly rising to be the 5th largest manufacturing country. Even the share in the GDP is growing at a commendable pace, but there is a need to realise that the cost involved in the manufacturing of any product in India is much higher which makes it difficult. The support of the government in duties, subsidies, taxes and all that is gaining prominence and helping the companies look forward for a growth. The manufacturing industry still needs attention from the government to help it grow and build better products.