The power insulator maker expects its Vizag facility to achieve full capacity by December
Chennai-based power insulator maker WS Industries (India) Ltd is planning to enter new overseas markets with the launch of its new insulator plant at Visakhapatnam. The Vizag facility commenced Phase I production in June this year.
The company has also set a target to increase its export share to 45 per cent from 35 per cent of the total revenue.
Speaking to reporters on the sidelines of the annual general meeting here on Tuesday, Narayan Sethuramon, managing director, WS Industries (India) Ltd, said the plant would reach its full production capacity of 5,000 tonnes a year by December 2009.
Following this, the company would begin work on Phase II. The total investment in the project is Rs 135 crore, majority of which had been invested, added Sethuramon.
The facility would mainly focus on new export markets. The company, which has a manufacturing facility at Chennai, caters to countries like the US, Germany, Spain, Sweden and Vietnam at present.
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“With the Visakhapatnam plant, we will expand to South America especially Brazil, South Africa, Sri Lanka, Russia and other CIS markets,” he said.
WS Industries registered sales of Rs 222.73 crore, of which export accounted for 35 per cent. For the current fiscal, the company is targeting revenues of Rs 250 crore, of which it expects exports to account for 40-45 per cent.
Meanwhile, the company is planning to invest Rs 6 crore to upgrade the Chennai plant and focus on manufacturing 800 kV solidcore insulator. “This offers good potential, especially from the government projects,” said Sethuramon. The facility currently manufactures 400 kV and 220 kV insulators. It also plans to introduce new products during the current fiscal.
The company has a little over Rs 200 crore on its order book. Of this, transmission and substations with 800 kV is about Rs 100 crore.