ISO Certified Premium Startup Consultancy Company
ISO Certified Premium Startup Consultancy Company
Inverters are electronic devices used to convert DC electricity into AC current, which is used to power electronics. They are crucial in locations with frequent power disruptions and are used to drive critical loads. In India, the demand for inverters and UPS systems is on the rise due to the diminishing tolerance for protracted power disruptions among customers.
Here's how NeuSource Startup Minds India Ltd. can help your business thrive in the inverter market:
NeuSource Startup Minds India Ltd. can provide you with valuable insights into the Indian inverter market and help you make informed business decisions.
They can assist you in registering your business, obtaining necessary licenses and certifications, and complying with regulatory requirements.
NeuSource Startup Minds India Ltd. can also help you with marketing strategies to increase your brand awareness and reach more customers.
They can guide you through the process of setting up your supply chain, managing logistics, and sourcing high-quality components.
NeuSource Startup Minds India Ltd. can also provide you with business advisory services to help you overcome challenges in the inverter market.
Inverters are available with ratings anywhere from 20 VA to several thousand VA.
Home inverters generally top out at 500 VA, while 50 KVA is the upper limit for industrial equipment.
In a UPS system, the AC power from the mains or grid is rectified via a circuit so that it may be used in a DC power supply.
Following a dedicated circuit, the DC power is routed into an inverter, which then provides clean, continuous AC power to the end user's devices.
The battery provides DC power to the inverter in the event of an AC power outage, allowing the inverter to keep functioning normally.
Promoters for inverter businesses in India can have an ITI, diploma, or graduate degree with experience in production or marketing.
The demand for inverters/UPS systems was estimated to be worth INR 20 billion in 2010 and is expected to expand at a CAGR of 8.9%.
A promising future market for inverters/UPS power systems might be found in the rural sector.
Inverter and uninterruptible power supply (UPS) systems are becoming increasingly efficient and affordable.
Inverters for solar systems are becoming increasingly popular.
Modern, high-performance digital inverters are in high demand because of the value placed on the security of expensive electronics and household appliances.
The competition from the unorganized sector is fierce for brand-conscious businesses since it caters to price-conscious customers.
A significant number of tiny, unorganized firms contribute to the fragmentation of India's inverter and UPS markets.
Only a handful of companies, like Luminous, Microtek, and Su-Kam, control the majority of the market.
NeuSource Startup Minds India Ltd. can help you navigate these challenges and stand out in a crowded market.
The unit has a total capacity of producing 3000 inverters/UPS systems per year of different types and ratings.
Depending on the product type, size/rating, and quantity, the wholesale sale/distribution pricing might range from Rs 2500 for 300 VA inverter systems to Rs 150000 for high-capacity inverter/UPS goods.
For solar inverters, the sales prices from Rs 1200 per kg for special grades/flux compositions/ratings used for critical applications.
PCB laminates and inverter thyristors, diodes, etc. are examples of the raw materials used to make inverters/UPS systems. These materials might cost anything from Rs 1500 per square meter to Rs 10000, or from Rs 50 to Rs 10000 for individual pieces.
The required materials account for a 3 percent wastage or scrap rate in the final output. Unwanted scrap is sold for Rs 1850 per Kg, and the proceeds are added to the total.
Energy costs are considered at Rs 7 per Kwh.
The depreciation of the plant is taken at 10%, and interest costs are taken at 14-15% depending on the type of industry.
To start the unit, the company needs to obtain state industrial unit registration from DIC, IEC Code for export, and local authority clearance.
Depending on the structure of finance, the company will need to register with the Registrar of Companies.
The registration and approval for factory plan, safety for Fire, etc. requirements, registration as per Labour laws ESI, PF, etc. shall be required as per rules and applicability.
Before starting the unit, the company also needs to obtain GST registration for the procurement of materials as well as for the sale of goods.
Installation of chimneys and blowers for the heat treatment furnace and pickling line, as well as compliance with factory safety regulations, are the only things that necessitate registration with the pollution control authorities. Regulations for the disposal of solid waste must be met. If a state has a pollution control board, entrepreneurs should get in touch with them.
The machines and equipment used in the manufacturing process offer scope for diversification into producing various types of electronic circuits and controllers based on design capabilities. The unit can also cater to other consumer and industrial products/components by using its spare capacities and design/production capabilities.
NeuSource Startup Minds India Ltd. can help entrepreneurs explore opportunities for diversification and offer guidance on the best strategies for organic backward or forward integration.
Although there aren't any dedicated facilities for training in wire drawing technology, various centres of excellence offer programs for developing dies and tools, such as the Indo-German Tool Room in Ahmedabad, Rajkot, and Chennai, and the CTTC in Bhubaneswar.
Collaboration with organizations like NID, etc., offers the greatest potential for education in the realm of new product design and development. New product designs, product ranges, features, and specifications of prominent brands/competitors across the world, including the North American, European, and Chinese markets, may all be researched online and downloaded.
NeuSource Startup Minds India Ltd. can help entrepreneurs identify the right training programs and institutes to acquire the necessary skills and knowledge to succeed in the industry.
In summary, the profitability calculation is essential for entrepreneurs to understand the potential returns of their investment in a manufacturing unit. The unit's capacity, sales prices, raw material costs, energy costs, depreciation, and interest costs are some of the factors that need to be considered in the calculation.
Additionally, obtaining statutory/government approvals, backward and forward integration opportunities, and training programs are some of the critical aspects of setting up and running a successful manufacturing unit.
NeuSource Startup Minds India Ltd. is a one-stop solution for entrepreneurs looking to start and grow their businesses. They offer a range of services, including company registration, tax compliance, accounting, legal, and advisory services, among others. With their expertise and experience, entrepreneurs can make informed decisions and achieve their business goals.
NeuSource Startup Minds India Ltd. can help with the following services to make the process easier for entrepreneurs:
State industrial unit registration from DIC
IEC Code for Export
Local authority clearance
Company registration with the Registrar of Companies
Factory plan approval
Safety clearance for fire and other requirements
Registration as per labor laws ESI, PF, etc.
GST registration for procurement of materials and sale of goods
NeuSource Startup Minds India Ltd. can also offer guidance on meeting the required norms for solid waste disposal and ensuring a safe environment as per the rules of factory safety.
Contact us to get a Full Ebook on this Business Plan Report
Mobile No.: +91-7305145145
Email Id: info@neusourcestartup.com
26 Apr
To start a new business is easy, but to make it successful is difficult . So For success, choose the best." Be compliant and proactive from the beginning and choose NEUSOURCE as your guidance partner.
