Panasonic India eyes Rs.25,000 cr turnover by 2015

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SME Times News Bureau | 26 Jun, 2012
Panasonic India has set an ambitious target to emerge as a USD 5 billion (Rs.25,000 crore) turnover company within 2015 by drawing up investment plans worth USD 300 million (around Rs.1,500 crore), a top company official said in Kolkata on Monday.

"We want to be a USD 5 billion company by 2015," managing director (consumer product division) Manish Sharma told media persons.

"We will invest USD 300 million in our new plant and campaigns over the next three years to achieve our 2015 target," he said.

The company has been registering an over 70 percent growth which it hoped to maintain in the 2012-13 fiscal also. "Our aim is to end this fiscal at Rs.10,000 crore with the consumer division contributing around Rs.5,500 crore."

In 2011-12, the consumer product division's share was Rs.3,200 crore out of the Rs.5,500 crore turnover of the company.

The company's India operation would achieve break even in 2012-13, but Sharma did not elaborate on it.

He said the company was hoping to become leaders in the air-conditioner market by the end of the current fiscal.

Apart from air conditioners, LCD television sets, refrigerators and washing machines would be the major drivers in the consumer product division's growth story.

Sharma said the company's new plant in Haryana will be operational in December and produce air-conditioners and washing machines.