Ricoh India to set up manufacturing plant in country, expects revenues to touch Rs 1,500 crore next fiscal

Hyderabad: Ricoh India Ltd, part of Tokyo-based Ricoh Group, plans to set up a manufacturing plant inIndia, a top company official said today.
Manoj Kumar, Executive Vice President and CEO, Ricoh India,also said the company, which clocked Rs 1,048 crore revenueslast year, expects to touch Rs 1,500 crore during the currentfiscal.
“We do have plans (for setting up plant), which we arecurrently evaluating. It is just a matter of time before wecome out with something on manufacturing plant,” Kumar toldreporters in a press conference.
He, however, declined to elaborate more on details,such as investments and time-frame for setting up plant. Replying to a query, he said the company is achieving50 per cent growth on revenues for the past year and this yearalso it is expected to witness similar number in growth.
Ricoh India has recently bagged Rs 1,370 crore orderfrom Department of Post, to provide Rural ICT solution. ThisSystem Integration contract further strengthens Ricoh’s forayinto IT services and showcases its ability to deliver suchcrucial and large scale deployment and also contribute in the
development of India, he said.
“Our strong capabilities in the domains of Imaging,Communication and IT Services have enabled Ricoh to emerge asa one-stop business solutions provider. IT services is one ofour key growth engines which contributed to 45 per cent to ourtotal revenue last year. In the coming years we would like to
expand our business and increase its contribution to 60 percent of our total revenue,” he added.
Kumar said appreciating US Dollar against Indian Rupeehas impacted the company’s bottom-line in the past. With thegrowth in IT services wing of the company, the impact wasoffset.

PTI