J K Files (India) Ltd, a Raymond group company, is looking at acquisition opportunities abroad to increase its global presence, a top company official said here today.
“With the adverse economic conditions, we expect to see a lot of smaller international players falling by the wayside. We are looking at opportunities for acquisition overseas. This will help us increase our presence in the global markets,” Raymond Ltd President - Engineering Business, Harshal Jayavant said.
“We see share of exports growing going forward. There is lot of opportunity for growth there. We are promoting J K brands in global markets,” he added.
Company’s exports, at present, account for 60 per cent of total turnover.
It is targeting 17 per cent growth in turnover in the current fiscal. It reported turnover of Rs 395 crore in the previous financial year.
“Due to the economic slowdown in India and globally, we have lowered our growth target for the current fiscal. We would have expected 25 per cent growth. Now, we are targeting 17 per cent growth this year,” he said.
J K Files manufactures 50 per cent of products its sells and rest it sources from 3-4 suppliers.
The company is also planning to invest up to Rs 40 crore in the next year to enhance production capacity in its plants in Madhya Pradesh and West Bengal, Jayavant added.
The company has two plants in Maharashtra and one each in Gujarat, Madhya Pradesh, West Bengal and Indonesia.