RPG group company, Harrisons Malayalam, is eyeing overseas acquisitions in the plantation and horticulture segments, a top company official said.
"We are looking at inorganic growth opportunities and interested in overseas acquisitions in the plantation and horticulture segments," Harrisons Malayalam's Managing Director Pankaj Kapoor, told PTI here.
The company is eyeing the African continent for a buy, he said, adding that it would, however, take about six-months before something materialises.
Asked what could be the deal-size, Kapoor said it was too early to comment but indicated that it would be 'fairly large'.
"We will fund our acquisition through a combination of internal accruals and debt," he said.
The company, a major player in rubber and tea, now also plans to give a strong thrust to its Projects and Engineering division.
"This division contributed around Rs 5-6-crore in FY 10--we see the division growing rapidly and its contribution rising to around Rs 45-crore," Kapoor said.
This division undertakes several engineering and electrical engineering turnkey projects. "We have earned a good name for quality work and we now plan to encash on this," Kapoor said.
This division's order-book stands at Rs 100-crore, he said.
The company's top-line in FY 10 grew 14 per cent at Rs 330-crore while its net profit jumped 47 per cent at Rs 11.47-crore.
Harrisons Malayalam is a part of the Rs 16,000-crore RPG group which has interests in tyres, power, retail, carbon black and entertainment.
