Kalyani Forge plans to invest Rs 200 cr on upgrading units

Pune-based Kalyani Forge plans to invest Rs 200 crore over the next five years to upgrade its manufacturing facilities and usher in new technologies.
Moreover, the company, which has three manufacturing sites in Pune, is looking to increase revenue from exports to around 40 per cent of the total revenues from the current 25-30 per cent.
"We have made provisions to invest Rs 200 crore in new technologies and upgrading our facilities over the next three to five years," Kalyani Forge Director Viraj Kalyani told PTI.
Elaborating on strategy to increase exports, Kalyani said: "We are getting lot of interest from customers based in Europe and the US. We have also opened office in Europe to look out for business. We plan to increase supply of engine components, drive lines and other components to the markets in these two continents."

The company's revenues last fiscal stood at around Rs 210 crore.
The company, which at present gets 70 per cent of its revenues from auto component vertical, is also betting on segments like mining, infrastructure and construction to propel growth over the next five years.

"We are increasing our business in new segments like mining, construction and infrastructure segments. We are looking at a three-fold growth from existing levels which currently stands at Rs 50 crore," Kalyani said.
The company which supplies ready-to-assemble products to these industries aims to achieve three-fold rise in revenues at Rs 150 crore in the next three to five years, he added.

Besides, the company is also looking at some cultural changes in the organisation to improve its efficiencies.
"Hiring more women employees is one of the initiatives to have a diverse nature of workforce. Further, we are trying to imbibe a startup kind of environment despite being in the business for the last 35 years," Kalyani said.
When asked about the domestic market, Kalyani said with the sales picking up in commercial as well as passenger vehicle segment, the company is looking at deepening engagements with the industry with enhanced product offerings.
"This year we plan to launch roughly five to 10 products for various segments including auto and industrial verticals. We are looking to offer products which the customers are currently importing," he added.