ARaymond Fasteners Eyes 40% Growth in India for 3-4 Years

ARaymond Fasteners India is eyeing a year-on-year growth of 40 percent for the next three-four years. The company, which saw slow growth in 2013, witnessed a good business year in 2014 and a turnover close to Rs 75 crore.

ARaymond in India is working towards its targets for 2018. While it has a massive manufacturing setup in Chakan. Manish Padharia, managing director, told that “it is tailor-made for Indian requirements and its current production capacity will suffice till 2018 considering the incoming demand for its products.”“In terms of current available production capacity of the machines installed, we are utilizing close to 60-65 percent of the total production capacity,” he added.

ARaymond supplies its fastener solutions to OEMs across the industry, with 75 percent of the total sales coming from passenger car OEMs. Commercial vehicles and two-wheelers contribute close to 10 and 15 percent respectively of the total yearly business. The company sizes the market to understand the demand for its products by evaluating the value of fasteners used in a car. In Europe, a car uses an average value of 50 euros worth of fasteners. In India, this is substantially low. "By 2018, we want to increase the value of fasteners per car.”