Double topline this year due to Mega T in agricultural sector
Kirloskar Oil Engines, which manufactures agricultural equipment, is expecting to double the revenue this financial year on the back of new products launches under its farm mechanisation brand KMW, a top company executive has said.
"We have launched three products under our KMW brand, which is mainly targeted at small farmers with under 2 hectares and cannot afford expensive mechanisation like tractors.
"We are planning to add three more models under this brand. These products will help us double our revenue this financial year," vice president for corporate strategy and business head for agriculture Antony Cherukara told here.
During fiscal 2018, the company had a revenue of Rs 100 crore, he added.
The company recently launched KMW range of power tillers and power weeders - Mega T 15, Mega T 12, Min T 5, Min T 8. These products are manufactured at its Kolhapur unit is Maharashtra with a total capacity of 12,000 tillers per annum.
"We have invested Rs 100 crore in this unit three years ago. We expect to run the manufacturing to its full capacity this year," he said, adding the entire investment was managed through internal accurals.
The company is also planning to expand the KMW product range to other parts of the country, especially the South and the East.
"After running the manufacturing unit to its full capacity we will review the situation think on expanding to other regions where the concentration of small farmers is more. We will look mostly in the South and East. However, we have not taken any decision yet," he added.
With the KMW brands, we expect to transform the lives of 50 million farmers by 2025, through innovative products, technology and delivery, he said.