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Ricoh India Ltd, a subsidiary of the USD 19 billion Ricoh Company of Japan, plans to invest Rs 250 crore in India on expansion of business, a company official said here on Tuesday.
The amount includes about Rs 20 crore to Rs 25 crore to be invested in the company’s Gandhinagar facility, said Manoj Kumar, Senior Vice President and CFO. A major chunk of investment will be in internal financing of business.
The company achieved 47 per cent growth with a top-line of Rs 633 crore last year, which it targets to increase to 55 per cent with a top line of Rs 1,000 crore in 2014.
R S Bawa, Chief Operating Officer, said the company has a two lakh strong customer base in India where the market size is six lakh toner bottles per annum. The Gandhinagar facility would manufacture three lakh bottles annually.
Tetsuya Takano, Managing Director, inaugurated a state of art refilling machine at the toner bottling plant here on Tuesday.
Ricoh, a leader in the field of office and IT solutions, has about 850 employees in India.
Ricoh India comprises only one per cent of the total business of Ricoh Company, based in Tokyo.
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