Riding high on the rising demand for diesel gensets in global markets, Sterling Generators, a part of the Shapoorji Pallonji Group, is eyeing exports to grow up to 40 per cent in the next two years, a senior company official said.
"The domestic gensets market has remained flat for almost two-three years. However, at the same time the international markets are looking very promising. Therefore, we are trying to increase our reach to these markets as we aim to become a global player in this segment," Sterling and Wilson Powergen president Sanjay Jadhav told PTI here.
Sterling Generators markets its products through Sterling and Wilson Powergen, which is another group company.
Currently, exports contribute over 25 per cent to the total revenues. "However, in the next two years, we expect the share to increase to over 40 per cent," he said.
The company, which clocked revenue of around Rs 650 crore last fiscal, is also eying up to 20 per cent increase in sales in the next two years.
Sterling Generators currently has a presence in Southeast Asia, the Middle East and Africa.
"We are looking at further expanding our footprint in these markets as well as into Australia," he said.
The company is also expecting a revival in the domestic market mainly on the back of various initiatives taken by the government especially in the power sector.
"Currently there is a slowdown in the domestic market. But now the conditions are improving and there are signs of recovery. The demand will grow on account of power shortages and growth across other sectors like industries, infrastructure, telecommunication and information technology and IT-enabled services," Jadhav said.
He said the company is also eying small size (below 500 kva) generator segment for expansion in the domestic market.
"We enjoy a good share in the large gensets (375.1-3300 kva) market, but we now want to also look at expanding capacity of small size generators as the demand for such products are increasing," he added.
The company has a manufacturing facility at Silvassa in Gujarat with a capacity of 10,000 units per annum.
According to Jadhav, total market of India is of one lakh generators, valued at Rs 7,500 crore.
The company has a 15 per cent share in the domestic and competes with other genset players like Kirloskar Olil Engines, Cummins India, APR Energy Plc, Broadcrown and Mitsubishi Heavy Industries.
