Shakti Pumps eyes Rs 5,000 crore revenue, scouts for acquisitions

MUMBAI: Shakti Pumps is aiming to clock revenue of Rs 5,000 crore within next five years with the help of overseas acquisitions to strengthen its global footprints, a senior company official said.

"We are looking to strengthen our brand in the overseas market. For this purpose we are looking at acquiring pump companies mainly in the US and Europe with good available network, from which we can leverage," Shakti Pumps Chairman and Managing Director Dinesh Patidar told PTI.

He added, "We have formed the strategy of acquisition, introducing new products and growth from the existing markets in order to reach our target of becoming a Rs 5,000 crore company by 2020-21."

Last fiscal, Shakti Pumps registered a revenue of Rs 300 crore.

Shakti Pumps exports its products to 100 countries across the world. Its major markets include the Middle East, US and Europe.

"The revenue share of our domestic and our export market is 50:50. We have established ourselves in 100 countries, mainly in the Middle East, US and Europe," he said.

He further said, the company is now planning to focus on the African market

Founded in 1982, Shakti Pump has three manufacturing units in Madhya Pradesh.