Everest to open 500 outlets, eyes Rs 1K cr turnover by 2010-11

Everest Industries Ltd, supplier of building materials, is planning to strengthen its sales network across the country and increase revenue through export. The company has set a sales target of Rs 1,000 crore by FY 2010-11.

The company is planning to add 500 retail outlets across the country to its sales network in the current FY 2008-09 and aims to increase the export upto Rs. 100 crore export by FY 2010-11.

Everest, a complete building solution company, fulfills the need for faster constructions with a variety of offerings like Roofing Solutions, Ceiling Solutions, Wall Solutions, Cladding Solutions, Floor Solutions, Door Solutions and Steel Building Solutions. The company has five manufacturing facilities located in Kymore (Madhya Pradesh), Kolkata (West Bengal), Coimbatore (Tamil Nadu), Nashik (Maharashtra) and Bhagwanpur (Uttarakhand).

Speaking to Business Standard, M L Gupta, Managing Director, Everest Industries, said, “Presently, the company is selling its products through a retail network of 5,000 outlets across the country. With an aim to strengthen our presence in the country, we are planning to add another 500 retail outlets across the country to our sales network in the current FY 2008-09.”

The company registered the net sales turnover of Rs 285.14 crores in FY 2007-08. The company has set the sales turnover target of Rs. 600 crore for the current FY 2008-09 and aims to achieve the sales turn over target of Rs. 1,000 crore by the FY 2010-11. Out of total sales of the company in the country, sales from East, West, South, North and Central India are equally divided.

In FY 2007-08, the company’s export increased three-fold to Rs 15.21 crore.

The company, which exports its products to Middile East, Europe, Asia Pacific and Africa, has set an export target of Rs 50 crore for the current FY 2008-09. The company aims to achieve the export target of Rs 100 crore by FY 2010-11.

Everest’s fifth new state-of-the-art manufacturing facility in India, which is located at Bhagwanpur, near Roorkee (Uttarakhand), has just started commercial operation. The company has invested around Rs 86 crore in this facility, which comprises of three production lines— Corrugated Fibere Roofing Line, Flat Cement Boards Line and Solid Wall Panels Line.