Historically dependent on physical guarding, the Indian surveillance landscape has progressively shifted towards high-tech, AI-enabled solutions, reshaping itself through significant policy changes and tech innovation. Driven by heightened public safety concerns and rapid population growth, the surveillance equipment market has experienced substantial expansion; it plays a crucial role in our lives. They are deployed on roads, airports, railways, smart cities, residential areas, shopping malls, banks, police stations, etc.
The ascent of Aditya Infotech Limited (AIL) and its marquee brand CP Plus is a classic tale of Indian entrepreneurial foresight transforming itself from a humble distribution house into a dominant surveillance powerhouse. The journey of the Noida-based listed entity AIL began in 1994, founded by Hari Shankar Khemka. In its early years, Aditya Infotech operated primarily in the IT hardware and computer software space, but the turning point came when the founder’s son, Aditya Khemka, identified a looming security revolution.
As India’s infrastructure and middle class expanded, Aditya pivoted away from the software gold rush, recognising that security was no longer a luxury, but a national necessity. His goal transcended hardware. “We pushed the early bird advantage to the full to gain a significant position and invested in expansion and value addition through intense research for innovative products and services,” explains Aditya Khemka, managing director, CP Plus, which has established such a strong brand presence that consumers use it as a synonym for CCTV cameras, much like Xerox is for photocopying.
AIL is India’s leading security & surveillance solutions enterprise and the first in the segment to become listed on stock exchanges. Valued at R3,100 crore (2024-25), the company today controls 40-42 per cent of the domestic security and surveillance equipment market.
The company’s unit in Andhra Pradesh perfectly exemplifies the most modern manufacturing facility in the industry. Spread over 350,000 sq ft in Kadapa Industrial Zone, it is recognised as India’s largest and the third largest manufacturer in the world for surveillance products, claims the company. The state-of-the-art, air-conditioned, dust-free manufacturing area, with ESD flooring, has an installed capacity of 2.2 million units monthly. It consists of 12 modern ‘surface mount technology’ (SMT) lines, three manual insertion lines, three DVR/NVR lines and one POE line, including 39 assembly lines. It has a total workforce of 4,000 people on the shopfloor, of which over 65 per cent are women, operating in two shifts. Also, 150-plus engineers are managing seamless production of the unit.
Modern machines
Its Japanese SMT machines are the most modern. Each of these lines can mount 400,000 components per hour on the bare PCB. It also comprises reliability test equipment, a dark room for the ageing test and many leak test machines. The company produces all kinds of CCTV cameras – HD, IP, WIFI, DVR, NVR and video doorbells, among others. It produces two megapixel to 8MP cameras used in homes, offices, industries, railways, airports, hospitals, roads, etc, with prices ranging from Rs1,500 to Rs15 lakh.
“Some of the unique products we have are PTZ (Pan Tilt and Zoom, a 360-degree camera used in traffic signals), thermal camera, ANPR (automatic number plate recognition) camera, based on AI,” says Ganesh Gopu, plant head. The company is now exploring in-house manufacturing of camera lenses. It is expected to start production in the next two years after validation from the R&D. The lens is imported from Singapore and Taiwan along with the chipset, memory cards and components.
The ministry for electronics & information technology had officially directed STQC (Standardisation Testing and Quality Certification) certification and compliance with essential requirements for CCTV cameras through a gazette notification two years back, which had shaken the manufacturers doing business with Chinese companies or dependent on Chinese imports. Finally, in April 2026, the government made STQC certification mandatory for the sale of all network-connected CCTV cameras in India and stopped the sale of non-STQC product IP cameras. But there is no restriction on the analogue CCTV camera.
The ban on all non-compliant STQC products had primarily targeted China, with the government aiming to prevent data leaks and spying risks associated with foreign-controlled hardware. This has given an opportunity for domestic brands like CP Plus, Matrix, Sparsh, Qubo and Trueview to fill the gap, which have shifted their supply chain to Taiwan, Korea, Japan or the US. Only the passive components they buy from China. “The implementation of STQC is a welcome mandate for the country, which ensures that surveillance data – especially in sensitive public areas – is not being accessed remotely by unauthorised foreign entities,” observes Aditya. There are 15-20 companies that have certified certain models. Shifting from China, which controlled one-third of the market, has led to an average 15-18 per cent price rise.
“In the near term, this transition is likely to create some disruption,” explains Varun Gupta, principal analyst, Counterpoint Research. “Shipments could decline by 10-12 per cent in 2025-26. However, revenues are expected to remain relatively stable, as vendors pass on higher costs, driven by supply chain realignment and memory pricing pressures.”
The market is steadily moving up the value chain. AI analytics software is expected to grow at over 30 per cent CAGR during 2025-30. This growth will be driven by continued investments in smart city infrastructure, along with enterprise-led brownfield upgrades, where existing camera deployments are enhanced with software-driven intelligence.
New design centre
“CP Plus is well-positioned to benefit from this transition,” admits Gupta. “The company has been strengthening its R&D capabilities, including a new design centre in Taiwan and is actively investing in next-generation technologies.” Its collaboration with L&T Semiconductor Technologies on chip design and partnership with Qualcomm for AI-enabled cameras indicate a strategic shift toward deeper technology ownership and differentiation, he adds. However, the rupee depreciation, the wars and the oil situation will tighten the semiconductor and the SOCs’ supply position. AIL’s focus is on getting as many semiconductors as possible.
“CP Plus now offers the largest range of STQC-certified IP surveillance systems and the widest range of government-approved, cyber-secured IoT-powered solutions in India,” informs Anup Nair, director, strategy, operation & IR. “Our share in the IP market would be over 60 per cent”. Sales of the IP-based CCTV camera are rising rapidly now, commanding almost 75 per cent of the market value, driven by its advanced features. It is likely to reform the CCTV landscape.
As the demand is on the rise, the company is expanding its manufacturing capacity by adding 0.2 million units in Kadapa to reach 2.5 million units per month. AIL is also setting up its own housing manufacturing unit for CCTVs adjacent to its CCTV unit at Kadapa to reduce dependency on external supplies. Both the expansion and housing unit will be ready by the second quarter of this financial year and will incur a total investment of Rs145 crore, which will be funded internally.
To expand the market share, AIL plans to have a multi-brand strategy, particularly within the IP camera segment. So, it is set to launch two brands soon – called Nexiview and Eyra. “The idea was to have more channel partners come with us. Everybody may not be happy selling only our flagship brand, CP Plus; they need variety,” says Aditya. The strategy will also help the company to push aside some small brands in the market.
The company has an extensive network of over 30,000 partners, 1,800 system integrators, as also 40 plus branches and 55 service centres across the country. There are 145 Galaxy Stores, a network of exclusive CP Plus partner stores, that the brand has launched in collaboration with local distributors in each state to make CP Plus products more accessible to the masses. The company-owned five experience centres are positioned in major metropolitan hubs in the country. They serve as hubs of innovation, offering customers, partners and enthusiasts a first-hand experience of CP, as also cutting-edge security solutions. The company wants to double the tally of its Galaxy Stores and the experience centres this year.
Vasp Systems, a Kolkata-based distributor for CP Plus, commends the company’s aggressive technology upgradation and marketing efforts. “CP Plus is the country’s market leader and the only Indian brand with global standard quality,” says Vijay Pugalia, the owner of the distribution unit. “The brand is the customer’s first choice due to its quality and large product basket.” However, the company should streamline the supply channels, Pugalia cautions.
“The basic mantra of our success is that we connect with the people better than any other manufacturer in the segment,” claims Sanjay Gogia, president, CP Plus. Small Office Home Office (SOHO), the major revenue earner of the company, contributes 65-70 per cent to the kitty, he adds.
Future of intelligent security
AIL has re-tuned its marketing drive. The company is the title sponsor of the cricket team, Punjab Kings, for the ongoing IPL. “It is a big carnival and unites millions across the country. So, for two- and-a-half months, we are visible everywhere. At CP Plus, we see clear parallels between high-performance sport and our own journey. And there is a lot of engagement with dealers, channel partners and installers too,” explains Aditya.
In a significant step towards shaping the future of intelligent security, CP Plus has launched its new state-of-the-art R&D Centre in Taiwan. This strategic expansion marks the company’s journey to redefine global surveillance standards through innovation, precision and purpose-driven engineering.
The Taiwan R&D Centre will serve as a critical hub for cutting-edge research in next-generation video surveillance technologies. By establishing a presence in one of the world’s leading technology ecosystems, the company aims to foster deeper collaboration, access specialised talent and accelerate breakthroughs that will power the next era of security. “Innovation is at the core of everything we do,” Anup says. “The launch of our Taiwan R&D Centre is not just an expansion; it is a strategic investment in the future of security technology. It strengthens our ability to design, develop and deliver solutions that are intelligent, efficient and globally competitive.”
CP Plus has also established R&D Centres in Noida and Ahmedabad. And, soon, it will open one in Bengaluru too. “Our Noida R&D centre is home to a skilled team of engineers, developers and designers. Our pioneering advancements in AI, IoT and cloud-based analytics ensure that we remain at the cutting edge of surveillance and security technology,” says Monika Sharma, senior vice-president, R&D & product development. Each year, the centre launches 40-50 products. The image lab plays a critical role in setting true colour to make sure that the camera is performing best in all lighting conditions.
Aditya’s eldest son, Ananmay, 26, is now a director of the company. He holds a bachelor’s degree in Global Management from Regent’s University, London. After joining the business, he worked in several departments, “spending time shadowing my father and my grandfather. I also worked under different department heads to understand the nitty-gritties of the business,” Ananmay says with humility. He has now moved to the smart home business segment and will focus on developing the dashcam business. He feels dashcams are going to be the next big thing in India. “There are 80 million passenger vehicles on Indian roads. The dashcam provides vital objective evidence about accidents for insurance claims, as also hit-and-runs, traffic violations and parking security. Additionally, they help improve driving habits and ensure passenger safety. So, the segment has an enormous growth opportunity,” he declares.
AIL has formed a 50:50 JV with Orient Cables to make LAN cables, CCTV cables and related connectivity solutions. This is a backward integration for AIL, which used to procure these from a third party for its consumption. But the quality as well as the cost was erratic, to say the least. Hence, it decided to join hands with its old supplier, Orient.
The new plant at Neemrana in Rajasthan is on lease. While management control of operations will be with AIL, Orient will run the plant. “About 95 per cent of production will be for our consumption, and the other 5 per cent Orient is free to sell in the market,” says Aditya. The plant, coming up at an investment of Rs60 crore, will be commissioned in August this year. Aditya expects that, post 2026, AIL’s import of cable will be zero.
Strong brand recall
Aditya Infotech’s greatest strength is its strong brand recall of CP Plus, which has become synonymous with the security & surveillance products. “This is complemented by its unparalleled distribution reach and service network pan-India,” says Chetan Kajaria, an independent director on the board and also vice-chairman, Kajaria Ceramics. “Their alignment with the government’s ‘Make in India’ initiative through investment in local manufacturing and R&D has enabled them to position themselves as a strong domestic player, which few companies have the capacity to achieve.”
As part of a broader strategy, AIL is planning a second plant at Greater Noida. According to the management, the company is now working to acquire the land parcel of 15-20 acres, aiming for a little more capacity like Kadapa. The idea is not to put all eggs in one basket. The Greater NOIDA plant is expected to be commissioned in 2028. The investment over the next 5-6 years would be Rs400-500 crore.
Despite India’s rapid strides in domestic manufacturing, the immediate lack of native System-on-Chip (SoC) fabrication presents a significant challenge to true technological self-reliance. But Aditya is hopeful that India will start chip set manufacturing within the next few years. He says these things don’t happen so quickly because the investment is huge, but the movement has begun.
AIL has reported annual revenue of Rs3,112 crore in March 2025, as against Rs2,782 crore in March 2024. PAT has gone up to Rs103 crore for 2025 from Rs140 crore in March 2024. For the nine months ending December 2025, the company achieved revenues of Rs2,799 crore, with a profit of Rs199 crore. The current market cap of AIL is Rs26,673 crore, and its current share price is Rs2,285 on NSC. “We have a clean balance sheet. The market appreciates our transparent management, conservative guidance and consistent over-delivery,” says Anup.
Capitalising on the rapid evolution of India’s surveillance industry towards global quality standards, AIL is enhancing its competitive edge through technological innovation and operational efficiency. Management has set a target to achieve 50 per cent market share with multiple brands in the next five years.