Peekay Mediequip eyes Rs 125 cr in 2011-12 on expansion plans

Peekay Mediequip, the maker of SEPNIL brand of disposable syringes, is targetting Rs 125 crore in 2011-12 on the back of its expansion plans that include bringing out new products.

"The company will look at a pan-India presence next year after consolidating our presence in the South. We expanded to Maharashtra, Gujarat and Rajasthan last month," G Shankar Company Managing Director told PTI, "we are targetting Rs 50 crore revenue this year and Rs 125 crore in 2011-12."

Claiming that Peekay Mediequip has a 25 per cent market share in Tamil Nadu, Shankar said company products were at present available in 12 states.

The manufacturing unit in Thirumalai Samudram in Thanjavur district manufactures about 15 lakh disposable syringes and an equal number of needles per day.

Discussing the company's future plans, company MD G Shankar said they would bring out IV.Cannula (a butterfly like sticker fixed on the wrist during saline or blood transfusion). About 60,000 cannula per day would be manufactured from its present unit, he said.

Other products include IV sets (pair of needles tagged with tube by which saline/blood transfusions are given)and surgical face masks. With an investment of about Rs 15 crore, commercial production is expected to start before March 2011 end.

Production of syringes and needles will also be stepped up.

The company was mulling expanding to Middle East and Gulf and also a tie up for the Tanzania market to dispatch 20 to 22 lakh units of SEPNIL products every month,he said.