homebusiness NewsKEI Industries has set a long term goal to reach 20% of export sales, says CMD Gupta
KEI Industries has set a long-term goal to reach 20% of export sales, says CMD Gupta
As KEI Industries continues to achieve substantial growth in its core business and venture into new export opportunities, the company's vision under Gupta's leadership remains clear. With a careful balance of consolidation and expansion, KEI Industries aims to strengthen its position as a prominent player in the cable and wire industry while capitalizing on the potential of global markets.
KEI Industries aims to increase its export sales to 12 percent of total sales in the financial year 2023-24, with a long-term goal of reaching 20 percent.
Anil Gupta, the Chairman and Managing Director (CMD) of KEI Industries, in an interview with CNBC-TV18, revealed that to achieve this target, the company is establishing a new plant that will primarily concentrate on catering to export markets.
The shares of KEI Industries have soared by an astounding 405 percent in the last five years, turning it into a multibagger for investors. This impressive growth can be attributed to the company's consistent focus on expanding its export opportunities.
In a previous interview, Gupta shed light on KEI Industries' strategy for its engineering, procurement, and construction (EPC) business. He emphasised that while the EPC business holds significance within their portfolio, it is not their core focus. As a result, the company does not plan to allocate excessive resources to its growth.
Gupta elaborated on the origins of their EPC business, stating that it was established around eight to nine years ago to complement their cable business. However, their intention is to maintain the EPC business at a modest level of around Rs 500 crore, without significant expansion.
"We are going slow on the EPC business. This is not our core business, it was started eight-nine years back to supplement our cable business. We want to remain near Rs 500 crore, we don't want to grow it much," Gupta explained.
While the EPC business may be growing gradually, Gupta emphasised that there is no cause for concern. KEI Industries remains committed to its primary focus on cables and wires, leveraging its expertise and market presence in these domains.
For more details, watch the accompanying video
(Edited by : C H Unnikrishnan)
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