Bry Air Asia private Ltd, manufacturer of environmental control systems for industrial and commercial applications, is targeting to double its turnover in three years, banking on the growing food and beverages industry in India, as well as overseas acquisition plans.
The flagship company of the Pahwa Group recorded revenues of Rs 200 crore in 2008-09, informed Dinesh Gupta, president of Bry Air. The overseas subsidiaries contributed around 20 per cent of Bry Air's revenues. "We want to take that share up to 50 per cent in the next three years when we aim to touch a Rs 400 crore turnover," Gupta said. Currently, the company's Chinese operations that is clocking a growth rate of over 40 per cent is the fastest growing subsidiary.
It is now planning to enter the Japanese and Korean markets through acquisitions. "We are looking at expanding our geographical footprint through inorganic growth. But this would not require huge investments, as we just need a base to start operations in these countries. Major investment is on technology, and we already have that," Gupta explained. Bry Air has two research and development facilities in Haryana that have made significant inroads in desiccant technology, Gupta claimed.
Beside Korea and Japan, Bry Air is keen on tapping the African market, though the plans are not firmed up yet. For starters, the company has set up an office in Johanesberg, South Africa.
As for its India plans, this privately held company is bullish on the growing food and drinks market. "The food processing industry is still very nascent in Asia. We process only 2-3 per cent of our produce in comparison to the developed world, which processes 40 per cent of its fresh produce," Gupta informed adding that there was huge untapped potential in the market.
