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3:11 pm - Tuesday November 25, 5051

Kent RO System targets Rs 950 cr revenue during 2017-18: Mahesh Gupta

Agencies, Hyderabbad

Kent RO Systems Limited Chairman and Managing Director Dr Mahesh Gupta on Saturday said that the company has targeted a revenue of Rs 950 crore during the current financial year 2017-18 as against Rs 850 crore achieved during the same period last year with the growth rate of 15 per cent.

Talking to newsmen after unveiling six new innovative products including world’s first shoes sole cleaner, vacuum cleaner, air purifiers, smart kitchen appliances into the South India market here, Dr Gupta said that the company has 35 per cent market share in water purifier segment.

India’s total market size was five lakh per annum by growing 10-12 per cent. He said that the company has the state-of-art-manufacturing plant at Roorkee, Uttarakhand. Another manufacturing facility constructing at a cost of Rs 100 crore will come up at Noida in Uttar Pradesh.

The facility will be launched during the next six months, he said. “The company is earning 6 per cent of the total revenue by exporting water purifiers to 12 foreign countries”, he said.

Mr Gupta said that the company has 12,000 strong dealers strength across the country. Of them, 600 are from Andhra Pradesh and Telangana. The company was earning Rs 60 crore revenue from the two telugu states.

At present, the company has 3 exclusive stores and planning to set up 100 more stores by the end of calendar year 2018, the Kent CMD said. Dr Gupta also said that the prices of company products came down by five per cent after the demonetisation. At present there was no proposal to go for Initial Public Offering (IPO), he said.

Posted in: Business

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