MORF looking to consolidate presence in South India, before expanding pan-India

September 01, 2012 09:41 am | Updated 09:41 am IST - Hyderabad

MORF India, a company that provides water purification and sewage treatment solutions, has expressed confidence that it would be able to touch revenues of Rs. 20 crore in the fiscal 2012-13, 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 their recently-launched product Ayoni and Ayoni Plus under the Kelvinator brand, of the Swedish appliances major Electrolux Home Products.

Talks were on with partners to dilute equity to the tune of 25 to 30 per cent and raise Rs. 10 crore to be used primarily in a brand-building exercise, apart from MORF’s own business expenditure in executing large projects. “We wish to consolidate our presence in South India began going pan-India by the end of 2012-13,” he said.

Water is purified in a six-step process that includes cartridges for reinforced sediment, membrane protection, silver-impregnated carbon, ultra fine, energy-saving reverse osmosis and microshield bio-safety.

The domestic water purifier market is pegged at Rs. 6,000 crore now and is estimated that by the year 2015, it would grow five-fold, to Rs. 30,000 crore. “That is the opportunity we are eyeing,” said Mr. Praveen.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.