MORF India, a provider of water purification and sewage treatment solutions, has expressed confidence that it would be able to touch revenues of Rs. 20 crore this fiscal, up from Rs. 8.5 crore in the last financial year.
At a press conference, M.V. Praveen, Managing Director of the Chennai-based company said that they expected sales and revenues to be driven by Ayoni and Ayoni Plus, two products that were launched recently under the Kelvinator brand.
Talks were on with partners to dilute 25 to 30 per cent equity to raise Rs. 10 crore that would be used primarily in a brand-building exercise, apart from for MORF’s own business expenditure in executing large projects.
“We wish to consolidate our presence in south India and start going pan-India by the end of 2012-13,” he said.
The domestic water purifier market is pegged at Rs. 6,000 crore and estimated to grow to Rs. 30,000 crore by 2015.