Companies

Konica Minolta targets ₹800 crore revenue in FY 2019-20

Our Bureau New Delhi | Updated on August 30, 2019

Imaging technology firm Konica Minolta is targeting a revenue of ₹800 crore in India for the financial year 2019-20. The company recorded ₹693 crore revenue in 2018-2019, and is aiming to reach ₹1000 crore by 2022-2023.

“We are maintaining double-digit growth and we will continue maintaining it in 2019-20 as well,” Kuldeep Malhotra, Vice President, Konica Minolta, told BusinessLine. Malhotra heads the sales division for Konica Minolta India.

Production printing and industrial printing account for 60 to 65 per cent of Konica Minolta’s business, with the rest coming from its office product line. “In the near future, our focus would be more to continue production growth and focus more on the industrial production business,” Malhotra said. “In this financial year, we will be launching a new product line for the office series,” he added.

In the production business, Malhotra claimed that the company has maintained a market share of over 50 per cent for the last six years. He said that the company is sure to maintain it in the near future.

However, its position is not as strong in the office product line. It currently has a share of 16-17 per cent in the overall market. “When I look at the office product line, we are not a very strong company. There are too many players,” he said.

Malhotra said that the company is looking at investing in colour printing products as the colourisation ratio in India has improved, according to data from IDC. He said that overall colourisation has improved to 15 per cent from 7 to 8 per cent earlier.

Published on August 30, 2019

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