Kirloskar Oil Engines Ltd. (KOEL) has drawn up plans to expand its global footprint by 50% in two years, said a top official.
“Currently, we are present in 40 countries and our target is to reach 60 countries soon,” said Sanjeev M. Nimkar, chief operating officer, Kirloskar Oil Engines Ltd. “All our efforts are directed at increasing the market share in select few markets to be among top 10.”
As part of its plans for 2021, KOEL had set itself a revenue target of ₹5,500 crore. “Last year, we reported ₹2,800 crore and this year, it would hit ₹3,800 crore. We would be investing ₹200 crore toward strengthening back-end processes,” he said.
This would be achieved mostly by strengthening our back-end processes, for which we are investing ₹200 crore over the next two years” he said.
Mentioning KOEL had a capacity to produce 2.20 lakh generator sets per annum, he said the firm operated at 70% capacity and it would be sufficient for next two years.
“To increase our market share, we will continue to invest more in the back-end processes (such as connecting entire channel partners), instead of front-end processes (manufacturing). In this regard, we have introduced intelligent range of gensets called i-Green series, he said.