Live
- Delhi: Sharpshooter of Hashim Baba gang nabbed; Rs 50 lakh extortion plan foiled
- EC sends notice to BJP over PM Modi's speech in Banswara
- PM Modi ups ante against Congress, says Rajiv Gandhi abolished inheritance law to 'save own interests'
- Cong candidate in Kerala suspects foul play as list of poll officials leaked, one suspended
- Differences on trade at focus as US secretary of state visits China
- PM Modi will free Telangana of corruption: Amit Shah
- Mallikarjun Kharge sought time to meet PM Modi to explain the Congress manifesto
- Tesla's Humanoid Robot 'Optimus': What to Expect and Its Potential Impact
- CBDT extends deadline for filing Form 10A/10AB by taxpayers to June 30
- Senior Congress Leader Maridu Krishna Files Nomination as MLA Candidate in Nuzividu Constituency
CRI Group eyes 1,100 cr from wires, cables biz
Coimbatore-based pump manufacturer, CRI Group, has entered into the high-end specialised wires and cables market. The diversification and expansion is part of the company’s plan to achieve a target of Rs 5,000 crore by 2021.
Hyderabad: Coimbatore-based pump manufacturer, CRI Group, has entered into the high-end specialised wires and cables market. The diversification and expansion is part of the company’s plan to achieve a target of Rs 5,000 crore by 2021.
“In Phase-I, CRI has earmarked an investment of Rs 125 crore for this project and has set up an integrated cable compound manufacturing facility, which will have a capacity to process over 10,000 tonne of copper and produce products worth over Rs 500 crore a year,” G Soundararajan, Vice-Chairman of CRI Group, said I a release on Tuesday.
In the second phase, the company has planned to invest further to double the capacity in the next two to three years, he added. Stating that the Indian wires and cables industry is pegged at Rs 40,000 crore, of which CRI’s target segment’s market potential is about Rs 14,000 crore, Soundararajan said this was expected to reach Rs 25,000 crore in 2021 with a compound annual growth rate (CAGR) of 15 per cent.
“CRI is confident to capture at least four to five per cent market share in the targeted wires and cables segment, which would fetch a revenue of Rs 1,100 crore by 2021,” he said.
