KEI Industries aims Rs 2,000 cr turnover

Wires and cable manufacturer KEI Industries is aiming a turnover of Rs 2,000 crore in the next two years on the back of increased production capacity, a top official of the company said.

"We are targeting a turnover of Rs 2,000 crore in the coming two years," KEI Industries Chairman and Managing Director Anil Gupta told PTI.

KEI Industries had made a capital expenditure of Rs 200 crore in the last two years and plans to invest Rs 75 crore in the current financial year for production capacity expansion, Gupta said.

"We expect our production to rise by 16 per cent to 58,000 km long wires and cables next year," he added.

The company is undeterred by the global economic downturn and in fact is targeting a seven per cent increase in export by next fiscal.

Commenting on the impact of global economic slowdown on the company, Gupta said: "As far as demand issue is concerned there is no slowdown, but if the capital expenditure goes down it will affect the company in six months time."