Khaitan Elect to double sales

Khaitan Electricals is on a diversification spree by foraying into domestic appliances, lamps, switchgear, wire and cables and pumps.

"We have charted out a major diversification plan. We are foraying into segments like domestic appliances, lamps, switchgear and wire & cable during the current year," vice-chairman Sunil Khaitan said today.

The company, which posted a turnover of Rs 125 crore in 2004-05, has set a topline target of over Rs 300 crore in the current fiscal.

The company, which has four manufacturing units, plans to produce pumps and CFL lamps at Faridabad and Paonta Saheb (Himachal Pradesh) facilities, respectively, while some other products would be sourced through exclusive arrangements with associate manufacturers and imports from China and Taiwan. (PTI)