Salzer Electronics targets Rs 300 cr exports in 3 years

Salzer Electronics, which offers customised electrical solutions today said it is eyeing a 30 per cent growth in exports over three years to touch Rs 300 crore.

"We are seeing slowdown in the domestic market for our products. To grow our business we are exploring new markets globally and hopes to achieve exports of Rs 300 crore in three years from the present Rs 125 crore," Salzer Electronics joint managing director R Doraiswamy told PTI here.

It has added new regions like Egypt, Australia and Philippines for exports recently. The company has witnessed good export growth in its US, Europe and Middle East markets last year.

The company is also constantly on the lookout for any new opportunities for technical associations to strengthen the base of product offerings, he further added.

It has reported a 15 per cent jump in revenue at Rs 442 crore and 15.4 per cent increase in net profit at Rs 20 crore in FY 18.

It expects the margins to sustain, and is looking at inroads into new industries like solar, elevators and locomotives for products like three phase transformers and wire harness, he said.