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Nilkamal to shed its image as pure-play plastic co
Nilkamal Ltd, a player in the plastic-moulded furniture industry, plans to shed its image as a mere plastic products company and expects to ramp up its turnover in the next three years with equal contribution from its plastics division, material handling systems and home solutions stores, reports Business Line.
During this year, he expects the contribution from the moulded-plastic division to be about Rs 400 crore and from the materials-handling division nearly Rs 330 crore and Rs 65 crore from '@home' stores.
The company has 37 per cent market share in the moulded-furniture business. In the material handling systems segment, the company aims to become an one-stop solution.
Acquisition
Mr Parekh said that the company had acquired the businesses of a competitor Prince Plastics and its assets for Rs 25 crore about six months ago and was also looking aggressively at the material-handling segments which presented a huge opportunity and has tied up with a Belgian company for textile partitions and with a German company for manufacture of heavy duty steel racks.
During the next year, he expects the turnover to increase to Rs 1,100 crore. Of this, about Rs 500 crore would be from moulded furniture sales, Rs 400 crore from material handling and other income and Rs 200 crore from '@home' stores.
