The Pune-based Kalyani Forge Ltd, which is into manufacturing of precision forged and machined components, plans to double turnover to Rs 500 crore in the next 2-3 years by entering a new product range and expansion.
"We are looking at achieving turnover of Rs 500 crore in the next 2-3 years from the present Rs 250 crore through organic growth. We are expanding our machined components capacity by 25%, which is expected to be ready by the current fiscal year", Kalyani Forge Executive Director Viraj G Kalyani told PTI here.
The company has identified four business verticals for growth and proposes to deliver value added solutions to the customers by supplying semi-finished or ready to assemble parts, Kalyani said.
The company plans to lower its auto components business from 75% to 60% and making diversification into non-auto sectors.
Over the next 3-5 years, Kalyani Forge will deploy a capital expenditure of Rs 200 crore for modernisation and value addition of their world-class manufacturing facilities in Pune.
The company is now working on getting closer to its global customers by increasing its presence in international markets.
It is exploring several strategic initiatives to meet globally accepted norms on waste management and environment friendliness.
"We want to contribute in the movement of climate change by introducing auto components comply with stronger emission norms," Kalyani added.
As a part of enhancing overseas sales, Kalyani Forge set up a representative office in Europe to enhance relationship with auto firms in Europe and the US.
The company is considered to be a preferred source of forged and machined components for global automobile firms, Kalyani said.
Kalyani Forge has achieved marked improvements in design and production technology to specialise in manufacture of a variety of intricate profile forgings such as connecting rods, crank shafts, shifter forks, among others.
Commenting on future growth plans, Kalyani said it is looking at inorganic growth.
"We are in early stages of identifying opportunities," he added.
