Elgi Equipments eyes 15% growth, unveils IoT service

“We are targeting a 15 per cent growth in business this fiscal. We are now getting active enquiries from several foreign companies having their plants here. Earlier, this segment of corporates were interested in buying brands used in their overseas plants,” Anvar Jay Varadaraj, Head of Marketing, said. Varadaraj was here to launch the company’s new free service called ‘Air Alert’. 

He said the SIM-based IOT initiative would track multiple parameters within a compressor, such as operating temperature, pressure, and energy consumed. 

While the service will enable the Elgi Equipments customers to have their machines running at optimum power consumption levels, the data generated would enable the company in product development. On the savings the firm would generate by reduced warranty claims due to early warning signals given by Air Alert, Varadaraj said the data is yet not available.