India-based video surveillance company CP PLUS said it expects continued growth momentum after one of the best-performing initial public offerings in the country this year, driven by favorable regulations, increased enterprise interest, and expanded manufacturing capacity.
The company, which manufactures security cameras and related systems, said investor demand exceeded expectations when it went public earlier this year.
“Since we last spoke, we got listed and had one of the best debuts in the stock market,” Anup Nair, President for Sales at CP PLUS, told asmag.com in a recent interview. “It’s in the news, in all the major financial dailies… people trusted us. Investors trusted us.”
CP PLUS said it has attracted long-term institutional investors including GIC, the sovereign wealth fund of Singapore, Dubai-based RDR, and global asset managers such as Invesco and White Oak. Several of these investors are betting that India's physical security industry could follow a growth trajectory similar to China’s surveillance boom a decade ago.
“Some of these international funds have seen what China went through a decade ago,” Nair said. “They believe that kind of hockey-stick growth is possible, especially when there are regulatory tailwinds.”
The company believes that the stock has become a proxy for India’s infrastructure and “Make in India” push, which includes a focus on localized manufacturing and cybersecurity standards for surveillance equipment.
Enterprise demand increases
While CP PLUS has long been a market leader in the Indian video surveillance sector, the company said the IPO raised its visibility among enterprise and government clients.
“My corporate and enterprise teams are telling me it has been a huge door opener for them,” Nair said. “Earlier, our demand generation team had to reach out to these corporates. Now the calls are coming in, with people saying they didn’t know we were such a large Indian enterprise and that we are pioneers of Make in India.”
The firm said it has not significantly increased marketing expenditure but has benefited from strong brand awareness. “We plastered a lot of the airports with CP PLUS branding. That visibility, I think, has reached the next level,” Nair said.
Focus on STQC compliance and execution
The company is currently focused on ensuring compliance with India's new Standardization Testing and Quality Certification (STQC) framework for surveillance products. CP PLUS said it has already certified most of its run-rate products and is now working to certify project-specific SKUs.
“The complete portfolio is being recertified and brought to market,” Nair said. “The biggest challenge right now is execution. Whatever we produce is not even reaching the warehouse because it is getting sold out immediately.”
The certification process includes submitting firmware and samples, starting production within three months, and undergoing production audits at factory sites. The company noted that authorities are still refining the process and have allowed audits at overseas facilities for global brands without Indian plants.
Short-term focus on execution, long-term on global growth
While CP PLUS originally planned to expand into Western markets over a two-year horizon, the company said it may accelerate those plans. However, for the next two quarters, it will prioritize product certification and domestic execution.
“We are trying to see if we can relook at that plan,” Nair said. “But to be honest, it will take us a few quarters to even think about it.”
The company operates an integrated manufacturing facility in Karappa, which it says is one of the largest outside China. The site currently produces 18 million units annually and is expected to scale up to 24 million units within six to seven months.
R&D investment in India and Taiwan
CP PLUS has also expanded its research and development footprint, opening a second R&D center in Ahmedabad and setting up a third in Taiwan. The Taiwan team will be staffed by local experts to assist with knowledge transfer.
“We strongly believe that India is still a very young country in terms of manufacturing,” Nair said. “The talent pool available in India is immense, but the country has not yet gone through the full production cycle experience.”
Affordable AI at the edge a priority
The company is also investing in artificial intelligence, particularly in edge solutions that can deliver analytics without increasing total system cost significantly.
“We are losing sleep over how to create an edge box that is affordable in India,” Nair said. “Because of the price points, there is not much compute on the camera, so you need an edge box. But the overall cost of the system cannot really go up.”
AI adoption is growing among large enterprises, but CP PLUS sees opportunity in the small and mid-sized business (SMB) segment. “Most of the AI solutions are for very large enterprises. But that's not where the sweet spot of India is,” Nair said.
He added that the goal is to create “a much more capsulated solution” that can be rolled out at scale across the market. “As market leaders, I think it's part of our responsibility to do the heavy lifting there, and that's what we are trying to do.”
Market shift toward IP and premium features
In India, the company said IP-based systems have overtaken analog in terms of both value and volume.
“I can easily now see the IP taking over,” Nair said. “Sales by value and volume is now larger than analog, for sure, in the country.”
The company also noted a shift toward higher-end features. “India is moving away from 2MP to 4MP, from 4MP to full color, and to audio,” Nair said. “That means the market is maturing.”
Global market conditions improving
Globally, CP PLUS said it sees signs of improvement in demand and product innovation.
“Whatever market research agencies we have, globally also the market appears to be pretty resilient,” Nair said. “And with China now providing growth stimulus, I think it is coming back.”
The company said the slowdown in China’s real estate sector had impacted video surveillance demand, but a recovery is underway. “They are still maybe one-third of the global market. They remain a major player in terms of consumption.”
Outlook
As CP PLUS consolidates its position in the domestic market, its focus remains on product certification, manufacturing expansion, and the development of AI-powered edge solutions tailored to local conditions.
With growing investor confidence and increasing enterprise engagement, the company is positioning itself to play a larger role in both India's security infrastructure and, eventually, international markets.
For systems integrators and consultants, CP PLUS’s evolving product portfolio and strategic direction signal new opportunities in a rapidly shifting surveillance and security technology landscape.