Nichrome eyes Rs 150-crore turnover by FY16

Company currently exports 30% of its products and is trying to expand its share further

Nichrome India, a packaging machinery provider, is targeting a turnover of Rs 150 crore by 2015-16 on the back of increase in domestic demand and opening up of new markets.

Nichrome, which manufactures fully automated fill seal machines, currently exports 30% of its products and is trying to expand its share further.

"We would have a revenue of about Rs 150 crore by the end of financial year 2015-16. It would based on industry growth and technological advancement. The industry is growing and it would need more packaging solutions," Nichrome India General Manager Sales Vikas Pathak told PTI.

Nichrome had a turnover of Rs 65 crore in the financial year 2012-13 and expects it to be around Rs 78 crore by the end of this fiscal.

The company is focusing on industry segments such as rice and other grain products, milk industry, pharma, oil, spice, retail, etc, said Pathak.

"We have introduced high speed milk servo driven packaging machine and high speed oil packaging machines for growing demand of production," he said, adding that the company is providing variety of packaging solutions ranging from 1 gram to 15 kg to the industry.

The company exports its products to more than 40 countries, including Australia, New Zealand, Iran, Kenya, South Africa, Russia, Ukraine and SAARC countries.

"We would be focusing more on Middle East and African countries for new markets," said Pathak.

Nichrome has a plant in Pune with an installed capacity to roll out 550 packaging machine annually. At present, it is rolling out around 340 machines.