Eyes Rs 350 cr sales this fiscal
Pune-based construction equipments manufacturer- Universal Construction Machinery & Equipment Ltd (UCMEL) is planning to spend Rs60 crore for expanding the production capacity in the next 12-18 months.
UCMEL has set the sales target of Rs350 crore for the current FY 2010-11. The company is planning to launch a new product ‘Elevator’— a special purpose lift, shortly.
The company manufactures 67 products at its four state-of-the-art manufacturing facilities- three located near Pune and at Rudrapur in Uttaranchal. UCMEL controls 70 per cent of the domestic market for its flagship products, which include Transit Mixers, Batching plants, Concrete Mixers, Mini Batching plants and Tough Rider.
“We have just set up a new unit at our Pune facility for a novel product ‘Elevator’- a special purpose lift. We have already invested Rs20 crore and planning to invest another Rs30 crore for product expansion. We are also planning to invest Rs30 core for expansion of our existing Rudrapur facility, shortly,” Avinash Avhad, Director, UCMEL, told Business Standard.
The company recorded a turnover of Rs225 crore in FY 2009-10 and set the target of Rs350 crore turnover for the current FY 2010-11.
The company is eyeing to reach Rs600 crore in the next five years.