Intex targets Rs 1500 crore revenue by FY28

Intex Technologies is targeting Rs 1500 crore in revenue by FY28, according to director Keshav Bansal. The company closed the last financial year at Rs 460 crore and expects to surpass Rs 800 crore this fiscal.

Bansal told ETRetail the company is looking at about 100 percent year-on-year growth in value. This ambitious expansion is backed by significant investments in manufacturing and retail.

Manufacturing Expansion in Kundli

A phased manufacturing project in Kundli forms the core of the capital expenditure. The company is investing around Rs 200 crore across two phases. The facility will sit on a 5 lakh sq ft compound, with an initial operational area of 2 lakh sq ft focused on coolers, fans, and water heaters.

The first phase, involving over Rs 50 crore, is slated for completion by December this year. The second phase is scheduled to begin by June next year and finish by January 2028. Bansal stated the investment would be self-funded, noting "We are a zero-debt company."

The first phase will have an annual production capacity of around 2 lakh coolers and nearly 5 lakh fans. Output from this new plant is expected to contribute 5 percent of total turnover this fiscal, rising to at least 15 percent next year and potentially 20-25 percent thereafter.

Revenue Targets Across Business Verticals

Intex operates across six verticals, including IT accessories, consumer durables, and small domestic appliances. Consumer durables is the largest, accounting for 65-70 percent of revenue. The company expects this segment to generate Rs 600-700 crore this fiscal, up from around Rs 300 crore last year.

The IT business, which contributed Rs 120-150 crore last fiscal, is targeted to reach around Rs 300 crore this year. "Each vertical in itself, they are going to double up in their business," Bansal said.

Growth in consumer durables is being driven by smart televisions, washing machines, and air conditioners. In televisions, Intex is shifting towards larger panels and Mini LED technology, with an 86-inch Mini LED model and a 100-inch model planned by end-September. Air conditioners and fully automatic washing machines are key focus categories for the next six months.

The company's overall product portfolio currently exceeds 2,000 SKUs, with 400-500 in consumer durables. It plans to add another 1,000 SKUs, taking the total to at least 3,000 by the middle of FY28.

Retail and Distribution Strategy

Intex's retail footprint is extensive, with over 800 active distributors and more than 40,000 active retail touchpoints. A significant 70 percent of its business comes from tier II and tier III markets, with metros contributing around 30 percent.

The company is also launching a direct retail channel. The first phase of its company-owned brand stores, called Intex Smart World, will see at least 50 outlets open by FY28, requiring an investment of over Rs 50 crore. Bansal said the initial phase would be company-owned to evolve the category and maintain quality standards. A franchise model is planned after establishing 30-40 company-owned stores.

Online sales currently represent 10 percent of revenue, with 90 percent coming from offline channels. Intex expects the online share to increase to 15-20 percent by FY28. The company is preparing to enter quick commerce for items like speakers, mice, and cables, with discussions underway with major platforms. Bansal expects quick commerce to contribute Rs 10-15 crore annually from these categories.

The company ended FY26 with EBITDA margins above 10 percent and expects to maintain double-digit margins this fiscal. Its existing Jammu facility, with an annual capacity of around 1 million units, continues to operate at approximately 60 percent capacity.