Legrand to focus on IoT, automation; scouting for more acquisitions

French electricals and digital building infrastructure major Legrand expects IoT, energy efficiency, connectivity, and user-interface product verticals to drive its business in India, contributing the bulk of its revenue, over the next few years.

Legrand India had closed 2019-20 with a topline of Rs 2,621 crore, while the same contracted almost 9 per cent in 2020-21 due to the pandemic.

While the first quarter of 2021-22 was also a near-washout due to the second wave of the pandemic, July-September was better and from October onwards demand is back to the 2019 level.

“We aren’t there yet (2019 sales levels), September was very close to that, maybe only 2-3 per cent down; but in October we touched the 2019 level. So if there is no third wave, we’re very confident of reaching at least the 2019 volume levels, if not better it.