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.
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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.