Khaitan Electricals net profit up 200 per cent

Mumbai, May 8 (UNI) Khaitan Electricals Limited has registered a 78 per cent YoY growth in net sales in FY 06 at Rs 203-crore as against Rs 121-crore in FY 05 while its net profit has zoomed over 200 per cent from Rs. 2.5-crore in FY 05 to Rs 7.6-crore in FY 06, stated a press release issued here today.

In the fan business, the company sold around 1.8 million fans per year, enjoying a marketshare of over 15 per cent. Besides, it also exports its products to neighbouring countries, stated the release, adding that exports have doubled during FY 06.

Mr Sunil Khaitan, Vice-Chairman and Managing Director of the company said that ''the improved performance of our company is a pointer towards the various initiatives that we have been taking to transform the company from being a single product (fans) to a multi-product and multi-locational company.'' The company has recently diversified into other electrical segments such as pumps, small appliances, water heaters, mixer-grinders, electrical acessories, distribution boxes, wires and cables.

In line with its growth in sales volumes, the company is in the process of setting up a new factory in Kala Amb at Himachal Pradesh in addition to its current manufacturing facilities at Kolkata, Hyderabad, Faridabad and Ponta Sahib, stated the release.

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