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GOCL Corporation Limited, a Hinduja Group Company, plans to step up focus on electronics vertical in view of increasing demand. “We are aiming to increase our revenue from electronics vertical from ₹20 crore in FY22 to ₹100 crore in next two years,’‘ Pankaj Kumar, Chief Executive Officer, GOCL, told newspersons here on Tuesday.
Hyderabad-based GOCL, which derives a lion’s share of revenue from explosives, is also in the process of setting up more manufacturing units for explosives at the Kukatpally factory here. “The major advantage in Hyderabad is availability of skills. To reach the target of ₹100 crore turnover in next two years, we will also be hiring about 200 to 300 professionals,’‘ Kumar said.
Electronics production
The company will invest ₹100 crore in expanding its electronics production capacity as well as in an explosives unit in Bellary during the current financial year. In the explosives vertical too, GOCL hopes to double its revenue from about ₹400 crore (FY22) to ₹800 crore by the end of this fiscal. “This is possible because of the increasing demand as well as escalation in price,”‘ Kumar said. GOCL reported a 12 per cent increase in income in FY22 at ₹623 crore against ₹557 crore during the previous year and a net profit of ₹176 crore (₹79 crore). GOCL has completed sale of 32 acres of surplus land for ₹327 crore and has also informed the BSE. Its facility here is spread across 800 acres of land.
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