Anant Inds to make defence equipment

Pune-based Anant Industries is setting up a production factory for components used in defence equipment. The Rs 3 crore unit will come up near Pune at MIDC's industrial estate at Supa.

"The company is preparing for long term challenges and setting up this 50,000 square feet defence indigenisation plant," said Chetan Dharia,managing director, Anant Industries.

The Supa unit will manufacture seven varieties of machine components for defence sector and also undertake casting and forging work.

The company is planning to go global with foreign collaborations and export to companies in Sri Lanka, Mozambique, Israel, South Africa and UAE.

The company expects to finalise the first off-shore contract in six months.

The company has bagged a business contract worth Rs 2 crore for manufacturing spares and assemblies for India's armed vehicles such as T90 tanks and weapon systems. This set up will manufacture pneumatic and hydraulic assemblies and spares.

There are about 30 ordnance factories and 40 depots of the defence organisation throughout the country, out of which Anant Industries is catering to seven factories. "As we are supplying quality products and giving timely deliveries, we expect more orders in future," said Dharia.

Anant Industries is one of the leading manufacturers and suppliers of defence spare parts.The company produces and supplies over 3000 items for various defence applications. It is also setting up a corporate office at Kothrud in Pune.

"We expect a 20 per cent CAGR.The company last year's turnover was Rs 29 million and it expects to close the current year with Rs 40 million, said Dharia.