Home appliances maker plans to enter air conditioners and washing machines as it looks to expand beyond its core air cooler business in FY27
Novamax Technologies has set a revenue target of Rs 350 crore for the financial year 2026–27, as the Indian home appliances manufacturer looks to strengthen its position in the consumer durables market and expand beyond air coolers into new product categories, including air conditioners and washing machines.
Founded in 2018, the company has built its business around in-house manufacturing and distribution, catering to growing demand for cooling solutions across India. Its planned diversification marks a broader push to establish Novamax as a home appliances brand.
Expansion Beyond Air Coolers
As part of its growth strategy, Novamax plans to broaden its product portfolio and reach new customer segments by entering additional household appliance categories. The proposed expansion into air conditioners and washing machines is aimed at tapping opportunities in the wider consumer durables market.
The company intends to build on its existing presence in air coolers while exploring new avenues for growth. Product innovation, manufacturing capabilities and market expansion are expected to remain central to its plans.
Novamax is also looking to strengthen its operational capabilities and distribution network as it prepares to scale its business and address evolving consumer requirements.
Focus On Manufacturing And Market Expansion
Commenting on the company’s plans, Harshit Aggarwal, founder and chief executive officer of Novamax Technologies, said the business aims to develop into a broader home appliances brand while building on the capabilities that have supported its growth.
“Our focus is on building Novamax into a broader home appliances brand while strengthening the capabilities that have supported our growth so far. The Rs 350 crore revenue target for FY 2026–27 reflects our ambition to scale the business, explore new product categories and reach more consumers,” Aggarwal said.
He added that product development, operational efficiency and market expansion would be important as the company enters its next phase of growth.
Building A Broader Consumer Durables Business
Novamax plans to continue leveraging its existing strengths while pursuing opportunities across India’s home appliances market. Portfolio diversification and a wider consumer reach are expected to play a key role in its longer-term business ambitions.
The company’s ability to execute its expansion plans, establish a presence in new categories and meet its revenue target will be important as it seeks to strengthen its position in the competitive consumer durables sector.
Founded in 2018, Novamax Technologies manufactures and distributes home appliances, with air coolers forming the core of its business. The company aims to expand its presence across additional product categories as it pursues its growth plans for FY27.
