The company has set for itself a turnover target of ₹12 crore from Maharashtra region alone in the first year and an overall target of ₹50 crore in FY 20-21.
Singapore-headquartered start-up Samudra has forayed into the Indian agricultural and domestic pumps space with the launch of open-well and bore well submersibles, slow speed self-priming mini monoblocs and control panels.
Samudra headquartered in Singapore with manufacturing capabilities in the city, has set a conservative target of Rs.12 Cr in the Maharashtra region alone in the first year of its launch, which was held at Pune in that State.
The state-of-the-art pumps will be manufactured at 18.000 sq. ft highly specialised manufacturing and R & D facility here and the products will be distributed through its dealer and sales network in all the states.
With another additional 35,000 Sq. ft production facility to be operational by April, Samudra plans to enter six states – Karnataka, Tamil Nadu, West Bengal, Kerala, Rajasthan and Punjab in another 18 months and aims to establish strong pan India presence by 2022 and targets Rs. 50 Crore turnover in 2020-21.
Samudra aims to be a leading player in the hydraulics segment by offering top quality pumps and motors catered to varied needs. Its Founder and CEO, Shivan Ramachandran said in a release.
Shivan Ramachandran, founder, Samudra said, “We will look to expand into other States in a phased manner, and hopefully establish a pan India presence by 2022.” To keep pace with expansion plans, Ramachandran is planning to invest ₹25-₹30 crore by April 2021.
Though based out of Singapore, the company has a 14,000 sq ft unit at Athipalayam near Ganapathy in Coimbatore, a 4,000-sq ft R&D centre and testing unit at Varadharajapuram and an upcoming facility spread over 33,000-sq ft in Peelamedu.
“We would have established 50,000 sq ft of manufacturing space in the next two months with daily production capacity of 300 plus products. We intend to expand this further by adding another 30,000 sq ft to support component manufacturing and product assembly,” he said.
