Technical textiles company Garware-Wall Ropes eyes Rs 1,000-crore revenue by 2017, mainly driven by growing demand in the aquaculture and agriculture segment, said a senior company executive.
"We are seeing improvement in demand for agriculture and fisheries segment in the country due to positive policies and expect the growth to continue. We also see demand for aquaculture products growing globally. These two segments will help enhance our revenue and help us reach Rs 1,000 crore target by 2017," GWRL President and COO Shujaul Rehman told PTI here.
Garware-Wall Ropes revenue for 2013-14, stood at Rs 688 crore, of which 55 per cent is from exports and 45 per cent from domestic market.
The company provides solutions like variety of cages, predator nets, knot-less netting, mooring to the aquaculture sector, while it also offers fishing nets, ropes and twines to the fishing sector.
Garware-Wall Ropes manufactures farmer friendly products under agriculture segment such as anti bird net, insect net, shade net, crop support net, sericulture net, anti hail net, floriculture net and grape net.
The company exports mainly to the US, Canada and Europe, he said.
"Even as we have presence in 72 countries, we mainly export to the US, Canada and Europe. Now we are planning to strengthen our presence in Africa with our agricultural offerings," he said.
The company, which has two manufacturing units in Wai and Pune in Maharashtra, is in the process of entering the defence sector and developing products like high altitude clothing and materials, radone, aerostat baloon, camouflage nets among others, he said adding the company eyes Rs 100 crore from this sector in four years.
"We are developing products for the defence, which we expect will help in replace those being imported from Europe.
We expect about Rs 100 crore from the defence sector in the country in four years," he said.
