Finolex Industries, the largest PVC pipes & fittings manufacturer in the farm sector enjoying 70 per cent of the organised market pie, has set a USD 1 billion revenue target and to double its capacity by 2020.
The Pune-based company currently nets around 70 per cent of its revenue from farm-oriented pipes & fittings, but expects to increase the non-agri revenue share to 50 per cent from 30 per cent now as it shifts focus on the residential and commercial properties segments, given the government thrust on housing, says its executive chairman Prakash P Chhabria.
For the year to March 2017, the debt-free Finolex had reported Rs 2,987.6 crore revenue, up 5 per cent over fiscal 2016, while its profit jumped over 38 per cent to Rs 352.2 crore on an Ebidta growth of over 39 per cent at Rs 563 crore.
"We're increasing our focus on the non-agri segment, especially housing, that's a large market given the government focus on housing to meet our USD 1 billion sales target by 2020. I see a big opportunity in non-agri segment," Chhabria told
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.