Ricoh India targets Rs.1,000 crore revenue by 2014

November 1st, 2011 - 6:34 pm ICT by IANS  

New Delhi, Nov 1 (IANS) Japan-based printing solutions provider Ricoh Tuesday said that its India unit plans to increase its revenue three times in the coming three years to Rs.1,000 crore (over $200 million).

“Our turnover for the year ended March 31, 2011 was Rs.300 crore. We plan to take it up three times in the next three years close to about Rs.1,000 crore,” Manoj Kumar, chief financial officer, Ricoh India, told IANS.

The Bombay Stock Exchange-listed company has products across various categories including multi-function printing, normal printing, production printing and digital duplicating.

In India it has a market shares of 50 percent in the production printer category and 20 percent in the multi-functional printers and has corporate clients across the industry verticals including telecom, finance and public sector undertakings.

The company also said that almost 75 percent of its sales were through channel partners.

Earlier during the year, Ricoh India acquired Noida-based Momentum Infocare Pvt. Ltd., marking its foray into the IT sector.

The company Tuesday showcased its new products in production print technology, including high-speed production print solutions and automated document factory portfolio.

“We have successfully achieved the integration of InfoPrint and production print assets in the region — people, solutions and sales and support coverage — and are now working together in a seamless way,” said Nobuaki Majima, managing director, Ricoh Asia Pacific.

The company said that all Ricoh subsidiaries in Asia Pacific will now carry the full portfolio of Ricoh production innovations.

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