The Rs 1,752 crore Nilkamal Ltd is aiming at 12 to 15 per cent turnover growth this fiscal, Hiten Parekh, Executive Director of the company said at a function here on Thursday. Last fiscal it has seen less than double-digit turnover growth figure.
Parekh was also optimistic of improvement in margins. He said moulded furniture and material handling businesses were seeing demand growth.
“All round growth in demand for products through retail and e-commerce were being witnessed this fiscal”, he added.
Nilkamal, which entered the spring, coir and foam mattress business two years ago, plan to expand it through acquisition or setting up new manufacturing units.
Currently, it has two mattress-producing units – one at Hosur, near Bangalore, and another at Dankuni, near here, with a capacity of 1.8 lakh units contributing around Rs 40 crore to the turnover. “Over the next three years we plan to add three more units to take the capacity to 4.5 lakh unit a year”, Parekh said.
The company is set to make an investment of Rs 100 crore for expansion of mattress units alone, he said.
“Mattresses being bulky, we are looking into the possibility of having additional units near to the regional markets in the north, central and west. But the specific locations have yet not been decided,” Parekh added.
He was here in connection with launch four new mattress products.
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