Noise Expects to Make Its Revenue Double to Rs. 2,000 Crore in Current Fiscal Year

Comments · 145 Views

Noise Expects to Make Its Revenue Double to Rs. 2,000 Crore in Current Fiscal Year, Wearable and hearable device maker Noise expect to more than double its revenue in the current financial year to Rs. 2,000 crore, a top official of the company said on Friday.

Noise Expects to Make Its Revenue Double to Rs. 2,000 Crore in Current Fiscal Year, Wearable and hearable device maker Noise expect to more than double its revenue in the current financial year to Rs. 2,000 crore, a top official of the company said on Friday.

The company is expected to see a 20 per cent revenue growth in the current fiscal year, which ends March 31, compared to the previous year, said Sanjeev Agarwal, chief operating officer of Noise.

"We are expecting revenue growth of 20 per cent this fiscal. We have not given any guidance yet," Agarwal told reporters on Friday at the sidelines of the Nasscom Leadership Forum 2016 in Bangalore.

The company plans to invest Rs. 100 crore in research and development (RD) this fiscal, he said.

In 2015-16, the company had reported revenue of Rs. 1,000 crore and net profit of Rs. 135 crore on revenues of Rs. 880 crore and net profit of Rs. 170 crore respectively in 2014-15 financial year, it said in its annual report last month.

"We expect revenue to be around Rs. 2,000 crore. The numbers are based on the assumption that we will have a growth rate of 20 percent," Noise India President and Chief Executive Officer Shailesh Shah told reporters on the sidelines of an investor conference here,

"We see ourselves as a global player. We are not just a domestic company," he said, adding that noise had sold products worth Rs. 1,100 crore in the current year so far and expected to sell "about Rs. 1,200 crores" this fiscal year.

The company is targeting revenue of Rs 3,000 crore in FY17-18 from about Rs 2,000 crore now, Shah said when asked about its target for FY18 revenues which is likely to be announced next month after the current fiscal closes on March 31 this year.


However, he did not directly answer a query by reporters as to whether Noise would be able to achieve its target given its inability to meet orders due to delays in deliveries by vendors and also due to demand slowdown in many markets including China where it sells products through distributors such as JD Taiwan and Hong Kong China Electronics Co Ltd (HKCEC).

The company has been facing several challenges, including the delay in payments to vendors and also from suppliers.

The company's exports to China declined by nearly 60 percent to $40 million in FY17 from $110 million in FY16, according to its annual report for the year ended March 31, 2017.

In the first half of this fiscal year, exports fell by 20 percent to $80-90 million from about Rs. 300 crore in the first half of the last fiscal year, it said.

"We are not worried about the slowdown in China. We will see how it goes on. We will be able to meet our target," said Shah, who is also the head of India operations at Samsung Electronics.

The company sold products worth Rs 5,600 crore during the first half of this fiscal year and is targeting to sell Rs 7,000 crore in the current fiscal year, which would be a growth of 20 percent over FY17 sales.

The company has been expanding its product line-up with the launch of new devices including smartphones such as the Galaxy S9, Galaxy S9 Plus and Samsung Note 9 and an all-new smartwatch called Samsung Gear Sport.

"We have launched a lot of new products, including smartwatches and we are expecting a good launch of Note 9 in August," Shah said.

The company has been expanding its product line-up with the launch of new GB Whatsapp devices including smartphones such as the Galaxy S9, Galaxy S9 Plus and Samsung Note 9 and an all-new smartwatch called Samsung Gear Sport. Shah said the company was also planning to launch a new 4G feature phone with a larger screen in August.

"We will launch the product in August, which has been designed for large screen," he said.

Shah said the company was also planning to launch a new 4G feature phone with a larger screen in August.

"We will launch the product in August, which has been designed for large screen," he said.

The company will also launch two new smartphones this month in the Indian market, he added. "We will launch two new smartphones in August. One of the new smartphones is a mid-range phone and the other is a flagship smartphone,"

The company will also launch two new smartphones this month in the Indian market, he added. Shah said the company expected to sell more than 50 million units of its flagship smartphone this year, including the Galaxy Note 9. "We are expecting to sell more than 50 million units of our flagship smartphone this year, including Galaxy Note 9," he said.

The company launched its first 4G feature phone in March, which was followed by the launch of another 4G feature phone in April last year." We launched our first 4G feature phone in March and we launched another 4G feature phone in April last year," Shah said.

"Our aim is to make sure that we are offering good value for money and offer good quality," he added. The company is also working on its first foldable smartphone, which will be launched in the second half of this year, he said.
The company has already started working on a foldable phone and will launch it in the second half of this year, he said.

"We have started working on a foldable smartphone and will launch it in the second half of this year," The company is also working on a phone with an in-display fingerprint sensor. "We have started working on a phone with an in-display fingerprint sensor and this will be launched in the second half of this year, We have started working on a phone with an in-display fingerprint sensor and this will be launched in the second half of this year

Comments