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| Canon India eyes 25% revenue growth |
| BS Reporter / Mumbai/ Pune Mar 25, 2009, 00:47 IST |
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Despite expecting a sharp drop of 15 per cent in sales revenue in the business-to-business (B-to-B) segment, Canon India is concentrating on the government and consumer segments to achieve the projected 25 per cent sales growth this year. The company expects to post sales worth Rs 840 crore during the current calendar year.
Canon India’s Senior Vice-President Alok Bharadwaj told Business Standard, the company has also introduced interest-free loans to its customers through tie-ups with certain credit cards and personal loan providers. Canon India posted sales worth Rs 665 crore last year, out of which the consumer segment accounted for Rs 300 crore.
The government segment generated Rs 100 crore while B-to-B segment contributed Rs 150 crore to the company’s sales revenues. The professional segment along with services contributed Rs 115 crore.
“We expect a 15 per cent drop in the B-to-B segment because of the global economic downturn this year. Hence, we need to concentrate on government and consumer segments that generate maximum business for the company. Despite a tough situation, business in the government segment is growing at 15 per cent, while the consumer segment is growing at 20 per cent,” added Bharadwaj. The company is also looking at new tie-ups with retail chains, while new customers are being added from segments like pharma and education.
The company is renting its photocopying machines to corporates, which are not ready to increase capital expenditure. Bharadwaj added, the company expects to post sales worth Rs 840 crore during the year, which would reflect a growth of 25 per cent over last year’s revenues.
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