Cavin Kare eyeing more overseas markets

Chennai-based fast moving consumer goods firm Cavin Kare Private Limited has planned to double its exports this year by reaching out to new overseas markets like the US and Australia, a top company official said.     

Efforts were on "for giving a special thrust" to international business and double the exports from the present five per cent of the total business, company Chairman and Managing Director C K Renganathan told PTI here.     

"We are eyeing USA, Europe and Australia as major potential markets and looking for our set ups/outlets in these areas and market all our range of products," Renganathan, who was in the city recently as Chairman of Tamil Nadu State council of the CII, said.     

The company at present exported its products to the Gulf countries, including the UAE.     

On the company's financial results for 2008-09, he said the auditing was yet to be completed, but added it had done "extremely well" than the previous year when the business was about Rs 500 crore.      

Both on top line and bottom line, Cavin Kare had clocked growth and there was no drop in the business. The new division of MA range of juices, manufactured at its recently set up Rs 20 crore plant near Hyderabad, was also doing well, he said.  In line with its expansion plans, the company had undertaken capacity addition in its production line.     

Another recently acquired unit in Puducherry has started producing mainly personal care products. The capacity utilisation at the main plant of Cavin Kare in Haridwar was 100 per cent, he said.     

Replying to a question, he said the company was always looking for acquisition opportunities.