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Kansai Nerolac Paints has announced that it is planning an investment of Rs400 crore (US$88M) for capacity expansion by September this year and is eyeing a double-digit revenue growth in FY2012, a company official said.
"We have lined up Rs400 crore to increase the capacity to 300,000t from the existing 205,000t by September,” the company’s managing director, H M Bharuka, said.
The company posted an approx 26.7% increase in net profit for the third quarter ended December 31, 2011. "Going by the trend, we expect a similar double-digit growth in revenue in the next quarter as well,” Bharuka said.
The growth mainly came from the decorative segment, which grew 25%, while industrial space grew 16%.
"The industrial segment did less business compared to the decorative segment mainly due to slowdown in the real estate and auto industries,” he said.
The industry is growing by 15% and Bharuka said he expects a similar revenue growth for the firm in FY2013.
The company has five manufacturing units and it might go for another one depending on the need, he added.