Ajanta-Orpat Group, which operates in consumer electronic, electrical and home appliances segments, aims to double its turnover in next five years to Rs 2,400 crore, a top company official said. The group, which is also India's largest calculator and room heater manufacturer, had a combined topline of around Rs 1,200 crore in FY2018-19.
The Gujarat-based company, which is also the world's largest wall clock manufacturer, expects revenue from its home appliances and fans division to be the key growth driver, contributing almost Rs 1,200 crore by fiscal year 2024-25.
The company is also expanding its sales network and has also started its own e-commerce platform.
"We plan to double the turnover by FY25 to around Rs 2,400 crore," Ajanta-Orpat Group Managing Director Nevil Patel told PTI.
"This fiscal, we have a growth rate of about 10% Compound annual growth rate (CAGR) despite a slowdown in the economy," Patel said adding that the company is focusing on the home appliances sector and on energy efficient products.
Besides, the company is also planning to introduce new products in existing categories and several of them are at developmental/testing stages right now as clocks with pollution detection technology.
Ajanta-Orpat, which has 450 distributors, plans to add 400 more into its fold by the end of next financial year. The group exports to around 45 countries.
The group has a unified manufacturing facility at Morbi in Gujarat and employs around 5,000 people largely women.
"We currently employ around 95% women in our organisation, and shall be targeting to push the number of women employees even further in the coming years,” he said.
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