Kolkata, Sep 15 : Kitchen appliances maker Kutchina is eyeing a 30-40 percent revenue growth in the current fiscal and planning to explore the West African market a year from now, a top company
official said here on Thursday.
“In 2021-22 fiscal, our revenue earnings were Rs 300 crore, which fetched us a marginal profit. In the current (2022-23) fiscal we are targeting revenue growth of 30-40 percent,” company founder and
managing director Namit Bajoria told a select media meet here.
The company, which is into the complete range of kitchen solutions, now has a four-five percent market share in the modular kitchen business – that has an overall market size of Rs 4000 crore-Rs 5000 crore in India.
“Now, we have a four to five percent market share under this vertical. In three years, our target is to boost it to ten percent,” said Bajoria.
The city-headquartered company, which now has 50 exclusive stores, is now focusing on expanding in North India.
“We have started expanding in the states of Rajasthan, Haryana, Himachal Pradesh and Punjab and the union territory of Chandigarh. Once these are covered, then we will enter Delhi,” said the
50-year-old entrepreneur.
Internationally, the company has also been trying to tap the South Asian markets like Nepal, parts of Bhutan and Bangladesh.
“But due to Covid, there was a two-year gap in our endeavours, though we have renewed our efforts. And one year from now, we hope to explore the West African markets. We are getting a lot of enquiries from Kenya and other countries of the region,” he said.
The company is coming up with a state-of-the-art factory near Sodepur in West Bengal’s North 24 Parganas district, which will be its second manufacturing unit in the state.
The facility is coming up on a 100-cottah plot, at an investment of Rs 40 crore-Rs 45 crore, and would ensure direct employment for 150 persons, and indirectly, for 500.
Among the products to be manufactured in the new factory are modular kitchens, wardrobes, shoe racks, as also water purifiers.
As part of becoming atmanirbhar (self-dependent), the kitchen solution provider has decided to reduce its dependence on China, from which it was earlier importing all appliances.
“Now we manufacture 500 modular kitchens. Once the new factory starts production, the number will go up to 1500. We hope to be atmanirbhar on finished products. We will henceforth need only raw materials from China,” added Bajoria.(UNI)