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Hyderabad May 4 Goldstone Teleservices Ltd, plans to double its revenues from Rs 30 crore to Rs 60 crore this fiscal with their polymer insulators making inroads into new markets and heat shrinkable sleeves for oil and gas pipelines, to be manufactured here later this year.

Addressing a press conferenceon Friday, the Managing Director of Goldstone Teleservices, Mr L.P. Shashikumar, announced that the company plans to invest about Rs 10 crore in expansion and for a new facility for heat shrinkable sleeves.

The polymer insulators developed in-house by Goldstone R&D have made inroads onto several States and the company also bagged a few overseas orders. These have become ideal replacements for porcelain insulators, which are heavy and more difficult to transport and deploy in electricity substations.

Mr Sashikumar said that they were in the process of expanding their polymer insulator capacity to develop new products for higher capacity substations. The company now commands an order book of Rs 45 crore, including exports.

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