In FY 18-19, Okaya aims to clock Rs 1150 crores revenue
India’s third largest power back up company, Okaya Power Pvt. Limited, which recently announced its ambitious foray in Lithium ion batteries segment, has big plans to grab majority of market share in Lithium ion batteries. Okaya aims to clock Rs 1150 crores revenue in FY 18-19, with its turnover of Rs 720 crores in FY 17-18.
Okaya eyes over 100% growth every year till 2022. By 2030, the market is expected to be of Rs 1.90 lakh crores for lithium batteries in India.
Mr Anshul Gupta, Director, Okaya said, “With Lithium ion batteries, Okaya has set in motion another big revolution in power storage solutions market. Thanks to the government’s recent initiatives, Lithium based batteries will be exponentially growing in India. In sync with Niti Aayog’s target for 2030, the share of Lithium batteries will be as much as 9 times more than regular lead acid batteries.”
Okaya enjoys dominant market share in solar power projects, 2-wheelers, E-rickshaw and UPS segment already. It is looking forward to join hands with a couple of OEMs for cars.