Uniflex Cables aims for Rs 300 cr sales in FY11

MUMBAI: Uniflex Cables, a subsidiary of Apar Industries, is aiming for a Rs 1,000-crore sales in the next five years, a top company official said.

"We are targeting a Rs 1,000-crore sales in the next five-years. This year (FY 11), we are aiming to grow our sales to Rs 300 crore from last fiscal's Rs 180-crore," Uniflex Cables' Chief Operating Officer, V K Bajaj, told reporters here today.

This year, the company is hopeful of a 60 per cent growth in its sales at around Rs 300 crore, he said.

The company is also targeting an increase in its export revenue from the present Rs 45-crore to Rs 75-crore this fiscal, he said. The company primarily exports to Africa and the Middle-East.

To cater to demand, Uniflex Cables plans to up its capacity at its Umergaon plant in Gujarat, Bajaj said.

The total domestic cable market comprising both the organised and unorganised sectors is around Rs 20,000 crore, with the organised sector stands at around Rs 5,000 crore, he said.

As a part of its growth strategy, the company plans to launch a slew of products, which it is presently exporting, in the domestic market as well in the next few months, he said.