Kirloskar Brothers (KBL) has set an export target of Rs 250 crore during the year 2006-07. The company recorded exports of Rs 91 crore in the Apr-Jun 06 quarter.Chairman Sanjay Kirloskar told shareholders at the company's annual general meeting this morning that KBL has plans to be among the top 15 pumps manufacturers across the world. The company has started an exercise to refurbish and expand its plant at Kirloskarwadi in Mahaharashtra with a capital expenditure of Rs 80 crore this year.Kirloskar said exports will principally be to the Sout East Asian and African region where the company already has a major presence. "In order to prepare for the export target, we have enhanced our dealership network in these regions last year and the effort is now showing good results," Kirloskar said. "Among the top priorities before any developing country are supply of drinking water, irrigation and power generation, and we make products for all three sectors," he pointed out. Kirloskar said the company's "Focus Africa" programme is sailing smoothly, and important government orders have been received in Angola, Senegal and Lesotho for supply of irrigation pumps. KBL has opened an office in the United States at Miami as part of its efforts to explore new business opportunities. The Miami office will largely oversee the company's interests in the Carribean region where the company has supplied pumps to Suriname, and additionally will look for business in the US, he added.The company has also made in-roads in the Europe market with an order from Siemens AG, Germany for the Sugen Power Project, he said.The company's income for the first quarter (Apr-Jun 06) was Rs 331 crore, 88% higher than the same quarter last year. Proft after tax for the quarter was Rs 39 crore (with exceptional items), 433% higher than for same quarter last year.
