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Business EconomyPosted at: Sep 26 2016 3:02PM


Pipe firm Vectus targets to achieve Rs 1,500 cr turnover in 5 yrs

New Delhi, Sep 26 (UNI) After going into an expansion mode, the pipe and water storage solution company Vectus Industries today said it has set an ambitious target of achieving Rs 1500 crore turnover in the next five years.
The company is also in the process of consistently increasing its production capacity to meet the rising demand for its product range.

In its next phase of expansion, Vectus is looking at Rajasthan, Gujarat and J&K, among other potential states in the country, to settle its manufacturing units.

“We have already kick-started our unit in Jammu where we are successfully producing almost 15 crore liters of water tanks. We are also in the process of starting two new production plants in the current financial year, one in Jaipur (in Rajasthan) and another in Dahej (in Gujrat),” said Ashish Baheti, Managing Director, Vectus Industries Limited.

Growing at an average growth of 35 per cent annually in the last eight years, Vectus has successfully achieved Rs 600 crore turnover in the last financial year, the company said.

“With new innovations in piping and storage solutions, we are eyeing a business turnover of Rs 750 crore by the next year and in the next five years we are looking at growing it further to Rs 1500 crore,” added Mr Baheti.

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