USHA SHRIRAM started its journey 40 years ago, recruiting engineers and project managers from top institutions like IITs to ensure consistent quality and establish world-class manufacturing facilities. The organization aimed to produce products competitive with the best globally and successfully export to regions including the Middle East, Africa, Sri Lanka, and Australia. Established in 1983, the company was promoted by Dr. Charat Ram and Mr. N. R. Dongre, and it is now managed by business professionals with experience in manufacturing and marketing.
Over the past four decades, USHA SHRIRAM has expanded its product range to include home and institutional lighting, furniture, mattresses, pressure cookers, cookware, solar products, water and air purifiers, luggage, televisions, accessories, electrical products, modular switches, wires, cables, MCBs, switchgear, mobiles, and CCTV cameras. The brand is known for its quality and reliability.
The company has been using the USHA/USHA SHRIRAM brand for over 3 decades, representing innovation and long-lasting quality. USHA is India’s No. 1 domestic brand in Consumer Durables after Samsung & LG and has been consistently ranked among the top consumer durable brands. A Nielsen survey ranked the brand among the top 5 in categories such as water purifiers, lighting, cookware, and furniture. Usha Shriram also has a rich legacy of after-sales service, and was voted a Trusted Brand in the Electric Wires category by Reader’s Digest in 2019. The brand has been consistently among the top 5 Consumer Durable brands in India and during the last two years, it has been rated at No. 3, behind only Samsung and LG.
The brand EUROLEX was launched at the dawn of the new millennium, symbolizing modernity. For the last 15 years, the name EUROLEX has been used extensively along with "USHA and USHA SHRIRAM." When Home Appliances were launched independently under the Eurolex Brand, it soon became the fastest-growing Brand in the market with a distinct and attractive packaging.
**Product Categories:**
USHA/USHA SHRIRAM product categories, for which IPR's are available, include:
* Lighting: LED lamps, lighting fixtures, street lighting, and office lighting.
* High-value appliances: Water purifiers, air purifiers, and vacuum cleaners.
* Cookware: Pressure cookers and cookware.
* Electronics: Televisions, mobiles & accessories, CCTV cameras, radio and music systems, computers, accessories & calculators, printers, and cartridges.
* Furniture & Accessories: Home, office, schools, institutions, mattresses, bed linen, and articles of interior decoration.
* FMCG: Toothpaste, shampoo, creams, face masks, mosquito repellent, and industrial gloves.
* Home Construction: Wires & cables, and circuit breakers (MCBs).
* Luggage: Soft & hard luggage.
* Solar Energy: Panels, battery, and solar street lights.
EUROLEX brand is available for all categories including fans & appliances.
**Company Philosophy & Core Strengths:**
The company philosophy includes: constant improvement, developing innovative products based on consumer research, and focusing on customer satisfaction with high-quality standards and service. Usha Shriram is known for its quality and reliability built over three decades.
The core strengths include its brand, distribution network, product design and development, quality systems and vendor development, and after-sales service. All aspects of manufacturing are controlled, including market research, product design and development/packaging design, mold/dies manufacturing, quality control, logistics, vendor approval systems, and pricing.
**Key Milestones:**
* 1983: USE was established.
* 1984: Furniture & Peacock Mattresses were introduced.
* 1997: JV with Brita GmbH; developed Waterguard Tabletop model of water purifier.
* 1998: Golden Peacock Award to Waterguard Water Purifier.
* 2006: Lighting business established.
* 2008: Pressure cookers & cookware range introduced in the product range.
* 2010: Luggage was introduced.
* 2011: Mobile phones were introduced and Eurolex fans & appliances business started.
* 2016: New product lines introduced which included Fans & Small Electric Appliances and Wood and Iron Office/Domestic Furniture
* 2017: Mattress and PU foam pillow introduced.
* 2018: Electric wire and cables introduced, along with PVC insulation tape and conduit pipes and accessories.
* 2019: Reader's Digest voted Usha Shriram as a trusted brand in electric wires; solar panels and lights introduced.
* 2020: Electric switches & switch gears (MCBs) & accessories introduced and LED Television and multimedia speaker and accessories introduced.
* 2021: Non electrical cookwares introduced.
**Distribution Network:**
There are around 20 distributors in the East, reaching 500 retailers and around 10 distributors in the North reaching 200 retailers. The company is selling lighting products through this distribution channel, and has one franchisee store each at Noida and M.G. Road for Furniture. Usha Shriram supplies to CSD for many years. Products approved for CSD include LED bulbs (9 SKUs), pressure cookers (7 SKUs), luggage (3 SKUs), water heaters (5 SKUs), RO water purifier (1 SKU), ceiling fan (1 SKU), and facemask (1 SKU). It has recently been approved as a supplier to CPC, with over 60 SKUs approved. The company's products are also extensively sold online through platforms like Flipkart and Amazon, with over 100 products listed, sold through their licensee GlobalBees. Usha Shriram's after-sales service network covers all corners of India, with over 150 service centers located across the country.
**Financials and Growth Potential:**
Operations were adversely affected by external factors like the launch of subsidized LED bulbs, demonetization, GST, and Covid-19, resulting in cash flow problems. However, the outlook is positive due to the brand strength, pan India awareness, and growing middle class. The licensees are doing well due to the strength of the brand.
The company plans to expand in the civil/retail market for lighting and cookware, estimating a market size of Rs. 35,000 Cr and Rs. 12,500 Cr, respectively, and aims to reach a turnover of Rs. 150 Cr in two years. In the CSD segment, there is a potential to reach a turnover of Rs. 40 Cr with a net contribution of Rs. 12 Cr in two years, growing to Rs. 100 Cr within five years. Licensees are expected to do a turnover of Rs. 150 Cr. this financial year, giving a royalty of Rs. 4.50 to 5.00 Cr, with a projected turnover of Rs. 250 Cr in the next two years. Launched in Feb/March 2023, online sales are increasing to Rs. 75 lakhs and expected to reach Rs. 2Cr a month in the next financial year. Given a proper cash flow support the company turnover can exceed Rs. 400 Cr in two years time.
