Robot maker Milagrow eyes ₹50cr turnover by Mar 2022

The company has been clocking triple-digit growth in the last few months and there is demand coming from consumer and the corporate sector, Milagrow Robots Founder Chairman Rajeev Karwal told PTI.

Milagrow iMap 10.0 (Milagrow)

Homegrown robot maker Milagrow expects its turnover to touch ₹50 crore by March next year, driven by strong demand for technology-driven products for cleaning homes and offices amid the Covi-19 pandemic, a top company executive said.

The company has been clocking triple-digit growth in the last few months and there is demand coming from consumer and the corporate sector, Milagrow Robots Founder Chairman Rajeev Karwal told PTI.

"We realised that the moment the lockdown eases out, this industry is going to grow by leaps and bounds and we started putting the supply chain together, and that has helped us. In the month of October, we grew at 2,000 per cent-plus, in the July-September quarter, our growth rate was 723%," he added.

Karwal said the demand for these products was previously seen as a metro phenomenon but post the pandemic and lockdown, there is strong demand for robot floor cleaners coming from smaller cities as well.

"We are seeing demand coming from cities like Kuthuparamba, Agra, Ludhiana, Vellore, Kochi, Vijayawada, and Vizag," he said.

The company is also working on expanding its product portfolio across price points and expanding its distribution network to further grow its business.

In November, the company had launched two robots in the mid-range category (sub- ₹30,000) - BlackCat and RedHawk - featuring its Gyro mapping software.

"We hope to touch ₹13 crore turnover by end of this fiscal. While the number may seem small but the overall industry itself was very small. Despite lot of supply chain disruption (amid the lockdown), I expect by the FY2021-22, reaching ₹50 crore turnover should be a reasonable possibility," Karwal said.

He added that the company is also putting in place plans to go beyond India.

"We may look at the US, Middle East and South Asia. It is still early but we are looking at the possibilities because the demand has certainly grown for these products across the world - from consumers, sectors like hospitality, healthcare and corporate - amid the pandemic," he said.