Diesel genset maker Kirloskar Oil Engines aims to more than double its exports to Rs 500 crore in the next two years and plans to focus on developed and Asian markets to achieve the target.
The Pune-based company has also finalised plans to set up offices in the US and Indonesia by FY 2016.
"We are focusing on developing new markets for our Central Pollution Control Board norms compliant (CPCB II) gensets, which have a huge demand in developed and East Asian markets. We want to take our exports to nearly Rs 500 crore from the present Rs 200 crore in the next two years," Kirloskar Oil Executive Director R R Deshpande told reporters.
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As per the Government norms, since July, we have undergone the transition of emission norms of CPCB I to CPCB II and sold 20,000 gensets, he said, adding the company has invested Rs 75 crore to complete the transformation process.
The company has also announced a new brand identity, KOEL Green, for its power generation business.
Kirloskar Oil has a healthy 35 per cent market share in the Rs 10,000-crore Indian genset business, Deshpande said, adding the firm plans to increase the capacity of its flagship product.
"We plan to manufacture up to 2,000 kva gensets from the present 650 kva gensets."
The company has manufacturing units at Pune, Nashik and Kolhapur in Maharashtra and Rajkot in Gujarat.
