Konica Minolta aims Rs 1000 crore revenue by 2022
, ET Bureau|
Jan 16, 2018, 03.10 PM IST
MUMBAI: Japanese printing technology major Konica Minolta Business Solutions is betting big on its professional production printing division to achieve its vision of Rs 1000 crore revenue by 2022, vice president Kuldeep Malhotra said.
Started in the year 2010, the company that has completed 6 years of operations in India achieved its first milestone of earning Rs 500 crore in 2016 and is now aiming at the next milestone even as it plans to beef up its professional production printing business and diversify into providing IT solutions.
"We achieved the first milestone of earning Rs 500 crore last year. We hope to achieve our next milestone of Rs 1000 crore in 2022," Malhotra told ET in an interview.
Owing to the stagnancy that has crept in the office market with the culture of "personalised printing" still not evolved in the country, Konica Minolta now wants to bank more on its professional production printing that entails large scale printing for production purposes and in the last three years it has directed its efforts towards increasing its share in the total earnings of the company to the current 60%. This also includes its decision to acquire the production printing business of Monotech System which enabled the company to become direct sellers of professional printing devices and also helped it to grow its hardware sales as well as its after sales revenue for the division.
In the last three years, the Indian subsidiary of the Japanese technology company has expanded its reach to 24 locations in India and is also eager to invest in capacity expansion "based on market requirements", Malhotra said.
Adding new features to its office space servicing business, the company has also gradually diversified into providing IT solutions which is a combination of software and IT services through cloud.
Started in the year 2010, the company that has completed 6 years of operations in India achieved its first milestone of earning Rs 500 crore in 2016 and is now aiming at the next milestone even as it plans to beef up its professional production printing business and diversify into providing IT solutions.
"We achieved the first milestone of earning Rs 500 crore last year. We hope to achieve our next milestone of Rs 1000 crore in 2022," Malhotra told ET in an interview.
Owing to the stagnancy that has crept in the office market with the culture of "personalised printing" still not evolved in the country, Konica Minolta now wants to bank more on its professional production printing that entails large scale printing for production purposes and in the last three years it has directed its efforts towards increasing its share in the total earnings of the company to the current 60%. This also includes its decision to acquire the production printing business of Monotech System which enabled the company to become direct sellers of professional printing devices and also helped it to grow its hardware sales as well as its after sales revenue for the division.
In the last three years, the Indian subsidiary of the Japanese technology company has expanded its reach to 24 locations in India and is also eager to invest in capacity expansion "based on market requirements", Malhotra said.
Adding new features to its office space servicing business, the company has also gradually diversified into providing IT solutions which is a combination of software and IT services through cloud.
