Godrej Locks, a business unit of Godrej & Boyce Mfg. Co. Ltd., is eyeing double-digit growth this year and hopes to continue the growth momentum.
The company is also planning to sharply enhance its exports business, a top executive said.
“We are driving international business very muscularly. We have a good footprint today with [presence] in, in and around India, the SAARC countries, the Middle East and the entire sub-Saharan Africa. There are plans to get into more and more countries,” Shyam Motwani, executive VP and business head, Godrej Locks, said in an interview.
The firm now exports to over 27 countries. “Currently, 3-4% of the revenue comes from exports and our plan is to take it to 25% of our revenues,” he said.
He said the company is aiming to cater to the requirements of the Indian diaspora living all over the world and who understand and know the brand well.
“Over time, we will improve the share of international revenue and take it to the desired aspiration of 25% of total revenue.”
The company is also raising the share of digital locks in the product mix. From FY15 to FY19, its digital door locks segment grew at a CAGR of 13%.
