February 15, 2016: CRI Pumps, the leading pumps manufacturer from India, is expected to strengthen its focus on the international business. The global business of the company currently accounts for around 1/5th or Rs 300 crore out of a total turnover of around Rs 1500 crore.
The company believes that with a total market of around US$ 35 billion and India’s share at Rs 1200 crore, there is enormous potential for growth in international market in this sector.
It is believed that the company is growing by around 20 per cent each year in international business. It is already present in markets like Italy and Spain and is also the only exporter of pumps to China from the country.
The company has acquired an Italian company – Fabbrica Italiana Pompe Sommergibili Srl (FIPS) last fiscal.
The company is targeting a turnover of Rs 2,000 crore in FY 2016-17, inclusive of Rs 150 crore from sale of pipes.