Greenpanel Industries is targeting Rs 1,500 crore revenue for FY 22, CFO V Venkatramani told CNBC-TV18 on Wednesday.
His remark came after the company reported its best results for the quarter ended September 30 in absolute terms. Year-over-year numbers were also driven by a weak base.
“We had a turnover of Rs 1,000 crore last year. So we are aiming for around 1,500 crore rupees for the current year, ”Venkatramani said.
Speaking of growth, he said, the market looks good over a two to three year period. “Real estate is coming out of a downturn that we have experienced over the past 4 to 5 years and it is the biggest market for our products. Therefore, the medium term looks good as far as business is concerned, ”he said.
Venkatramani said achievements would also improve because the company took another price hike in October, due to higher raw material costs. Meanwhile, export achievements are improving further. “So we should see an improvement in domestic achievement and exports from the third quarter,” he said.
The company is in the process of upgrading its facilities to increase capacity, he said.
For the full management interview, watch the video
(Edited by : Kanishka Sarkar)