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| Camlin eyes Rs 500 crore turnover by FY12 |
| Pres Trust of India / Mumbai May 13, 2009, 10:44 IST |
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Colour and stationery products firm Camlin Ltd is eyeing a Rs 500-crore turnover by FY 12 following completion of its expansion programme, a top company official has said.
"We are expecting a turnover of Rs 350 crore in FY 10 and Rs 500 crore by FY 12 after completion of our expansion programme and increasing distribution network," Camlin Chairman and Managing Director Dilip Dandekar told PTI here.
Despite an economic slowdown, Camlin has posted a 32.44 per cent rise in net sales at Rs 283.11 crore and 59.53 per cent growth in profits after tax at Rs 6.11 crore for FY 09.
The company's Jammu unit has also commenced operations and started contributing to its profitability.
"In spite of recession, we have kept our commitments and there is a robust jump in our topline and bottomline. This was possible because of precise execution of an action plan to combat recession, like a thrust on rural markets to make up for the loss of sales in urban areas, rigid control on expenses to counter higher input costs and optimisation of available resources," Dandekar said.
He further said the company, during 2008-09, added significant production capacities and incurred a capital expenditure of Rs 28.85 crore. The firm is now geared up to achieve its ambitious growth plan. The company sees a big opportunity as India's writing instruments market is estimated at Rs 2,000 crore.
"We have plans to invest Rs 20 crore for expansion in the next two-year period. The main focus will be on writing instruments, artist and student colour products," Dandekar said.
The company plans to increase its distribution network.
"We are expanding to rural and semi-urban areas. Today, we have 800 distributors catering to nearly 5-lakh retail outlets," he said.
The slowdown has not hit the consumption of the company's products, Dandekar said, adding the economic activity is bound to pick up after elections and "we are confident of continuing our strong growth in the future as well."
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