Business Summary
Established in 1979 by Shri Otmalji Goraji in Vijayawada, Andhra Pradesh, Goldmedal Electricals first started as a retailer of leading electrical brands in the country. Following the demise of Shri Otmalji Goraji, his son, and the current Chairman, Shri Jugraj Jain took on the mantle of running the business. Later on, his younger brother, Shri Praveen Jain joined the business. In 1981, the company ventured into the marketing of wires and cables under the Goldmedal brand. The company set up its first factory in Goregaon, Mumbai, to manufacture urea switches. In 2001, the company started manufacturing polycarbonate switches and launched its first series of switches called G-Magic. Following the success of this series, Goldmedal established a factory for manufacturing of wires and cables in Bhiwadi, near Delhi in 2005 followed by a manufacturing unit in Vasai, Maharashtra for the production of modular switches and accessories in 2006. The company set up its tool room facility in 2010 and a year later, launched the Curve range of modular switches. In the following years, Goldmedal ventured into various product categories and expanded the business to include LEDs, PVC pipes, doorbells, accessories like night lamps and spike guards, MCBs, DBs, home automation products etc. In August 2019, Goldmedal announced its plans to set up another manufacturing facility in Hyderabad, Telangana. The business turnover of the company in 2018-19 was INR 1,400 crore with a projected CAGR of more than 40 per cent year on year.
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