BSE-listed Ricoh India Ltd., an imaging equipment and IT services provider, seeks to sustain its present growth rate of 55-60 per cent.
The optimism for this strong double-digit growth stems from the hugely untapped potential in non-metro locations, new services it recently started and contracts arising out of the digital India programme.
The major revenue driver in the past few years for the company has been its IT services business, which it started four years ago. Since the launch of its IT services, the company’s revenues have grown from Rs.300 crore in 2010-11 to Rs.1,638 crore in 2014-15. IT services, one of the three business areas, now accounts for two-thirds of sales. Imaging and communications account for the rest.
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“Over the past four years, we have grown by 55-60 per cent CAGR, which was driven by change in our business approach,” said Manoj Kumar, Managing Director & CEO of Ricoh India Ltd. “Also, we have now transformed from an hardware vendor to IT solutions provider to a range of industries,” he added. .Ricoh is also cashing in on the opportunity arising out of the Digital India programme. It is participating Rs.5000 crore worth of contracts. It is already executing Rs.1,370 crore order from Department of Posts to modernise over a lakh post offices in the country through automation.