Zicom to invest Rs 80cr in new business in next 2 years

2749 Investors following Zicom Security. Share this News with them.

0

Like this story, share it with millions of investors on M3

Zicom to invest Rs 80cr in new business in next 2 years

In an interview with CNBC-TV18, Manohar Bidaye, chairman, Zicom Electronic Security Systems said, the company is launching new innovative business called Zicom SaaS. “We have plans to invest about Rs 80 crore in the next two years.”

Post your opinion here

 

0

Tweet

Share on Tumblr

ALSO READ See latest News about Zicom Security See previous management interviews See what other Experts & Brokerages are saying about Zicom Security Zicom Security BSE | NSE 30/05/12 Are Mutual Funds betting on Zicom Security?

In an interview with CNBC-TV18, Manohar Bidaye, chairman, Zicom Electronic Security Systems said, the company is launching new innovative business called Zicom SaaS. "We have plans to invest about Rs 80 crore in the next two years."

Below is the transcript of his interview with CNBC-TV18's Ekta Batra and Reema Tendulkar. Also watch the accompanying video.

Q: We understand that you are launching a new business unit, what is the investment, what is the opportunity you see from this?

A: We are launching new innovative business called Zicom SaaS (Security as a Service). The objective is to provide a holistic security package to the customer taking care of all his requirements based on security assessment and to give him the complete package of hardware, software, monitoring. So, that the responsibility of security will be outsourced to Zicom.

Q: You have sold your security system business to Schneider about a year back. Could you tell us this new business, is it in the same line, do you still get into the CCTV? What is the kind of demand do you see for this? How is it different from what you did earlier?

A: We are still in the same business of electronics security post Schneider deal. We have retained our brand, we have retained our retail business. We are still marketing all the products in the Indian market. This year we expect to cross Rs 200 crore mark for this financial year. We see new product offering, new packages and new solution for the Indian market.

Q: Whatever money you got from Schneider, is it all ploughed back into this new Zicom SaaS that you were referring to?

A: Yes, we will be investing in Zicom SaaS because it is a capex model. We have plans to invest about Rs 80 crore in the next two years.