Gunjan Srivastava, CEO & MD, Onida Electronics Ltd, at a press conference in Chennai | Photo Credit: BIJOY GHOSH

Onida, an iconic Indian consumer electronics brand that ruled Indian households during the 1980s and 1990s, and was synonymous with the golden era of television in India, is embarking on a transformation strategy and has set a target of “growing five-fold over the next five years.”

This will involve the company strengthening core product categories, exploring new product development, honing sales channels and after-sales services, and improving brand positioning to reconnect with consumers, Gunjan Srivastava, MD and CEO, Onida Electronics, told businessline in an interaction.

The 45-year-old company, which admits it lost ground to global electronics majors in the last decade, is also moving away from contract manufacturing business to focus entirely on branded product business. This will be achieved via expanding physical presence through exclusive brand outlets, said Srivastava.

“We are looking at having at least 100 exclusive Onida brand stores across the country in the next 3 years or so,” he said. “Overall the product categories may grow 7-10 per cent annually, but we intend to outperform the market by several times,” the executive added.

Onida’s current product portfolio includes air conditioners, televisions and washing machines. It is evaluating entry into new segments over the next 3-5 years including refrigerators and smart home solutions.

While currently Onida has both contract and in-house manufacturing, the CEO said that manufacturing could be brought internal, for selective products, as their volumes scale up.

The company has also launched a 100-inch QD Mini LED television marking its entry into the ultra-large screen segment. The product is positioned around premium picture quality and superior audio performance, the CEO said.

Financially, the consumer electronics player clocked a net loss of ₹74 crore and revenue of around ₹670 crore in FY26. It recently raised funds from Authum Investment and Infrastructure to fund the transformation plans and Srivastava said additional fundraising will be considered only if expansion into new categories requires fresh capital.

Onida’s plans for revival began earlier this month with sweeping management rejig. Srivastava, who has been CEO since February, was recently also appointed as MD. A new CFO and Chief people officer has also been brought in. The promoter Kaval Mirchandani continues to be on the Board.

Interestingly, the company is also in the process of surveying various consumer groups to see how it can redefine the brand for younger buyers while retaining its legacy appeal. The iconic “devil” mascot will remain central to the brand identity but a new look and approach are being reworked ahead of a festive-season marketing campaign, Srivastava said.

“Our main [marketing] focus is going to be the newer channels, essentially digital media and social influencers,” he added.

When asked about his confidence on Onida’s comeback, he clarifies that it is more a “rewiring” of the brand. “We want to continue and carry on, but then there are areas where we have to improve drastically,” he said.

The transformation comes at a time when consumer electronics makers are grappling with steep memory price inflation, particularly in televisions. Srivastava acknowledged that repeated increases in semiconductor memory prices have pushed up input costs and forced brands to raise prices. “This has resulted in the market being a little bit muted,” he said.

Published on July 16, 2026