Everest Industries is looking at 20-25 per cent growth in 2010-11, according to its Chief Operating Officer and Director Manish Sanghi.
Mr. Sanghi told The Hindu here on Tuesday that the company's turnover in 2008-09 was Rs. 530 crore. Building materials contributed Rs. 440 crore and steel building solutions Rs. 90 crore. The company launched Everest International, a trading division, six months ago.
The company was hopeful of about 20 per cent growth this year. “In 2010-11, we should grow at minimum 20-25 per cent or hopefully a little more than that. Steel structures and Everest International will be the fastest growing segments,” he said.
The company had plants in Podanur (near Coimbatore), Kymore, Nashik, Roorkee and Kolkata and it was taking up debottling exercise regularly. With debottling, the capacity would increase by 15 per cent, especially at Podanur, Nashik and Kolkata. At this stage, it had no plans for any greenfield investment in 2010-11. With the two percentage point increase in excise duty and increase in the prices of raw materials, the company expected the product prices to go up by about 10 per cent in the next two to three months. Further, Everest was repositioning itself as a building solution provider. “Most people know us as roofing solution provider. We want to be known as building solutions provider.” In two years, revenue growth would be diversified from all products and not dependent on a particular product. In roofing, it had introduced variants such as polycarbonate and metal roofing.
In the international segment, it currently had acoustic ceiling products and steel doors. The company planned to add more to the basket taking the total number of products to about 10 in a year.
