Crane manufacturer Anupam Industries on Sunday said it is targeting a revenue of Rs 400 crore this year and aims to double it in the next three years on the back of its capacity expansion plan.
"This year, we are targeting a revenue Rs 400 crore. In a span of three years, it should be Rs 700-800 crore," Anupam Industries managing director Mehul Patel said.
When asked about the expansion plans, Patel was, however, tight-lipped. "We have plans but they are not crystalised," he said.
The company's sales stood at around Rs 300 crore last year. This year, it has invested Rs 50 crore on the capacity addition. The Gujarat-based firm has an order book worth Rs 350 crore and is likely to bag a few more from the steel sector. "Power and steel sector are our major clients. We are now expecting a couple of packages from the steel sector."
Anupam enjoys a market share of 22 per cent in the Rs 2,000- crore crane market that is growing at 25 per cent annually. "Going forward, the scalability will come from new territories and exports. We are expecting 30 per cent CAGR in the coming years."
The firm also plans to expand its presence in the overseas markets and is eyeing more export markets.
"We are looking at Latin America now and also some countries in Europe," he said, adding the company is already present in Dubai, Saudi Arabia, Kenya, Brazil and South Korea. Anupam manufactures a wide range of cranes for sectors like steel, power, construction, cement, shipyard, fertilisers and petrochemicals, heavy and general engineering.
Aditya Birla Private Equity had picked up a minor stake in Anupam by investing Rs 50 crore last year.
The company recently formed a joint venture with Japanese Mitsubishi Heavy Industries to manufacture container and material handling equipments. The JV company, Anupam-MHI, will invest Rs 280 crore to set up two units at Tarapur and Mundra in Gujarat.
