Mumbai: Denso India, a subsidiary of the leading Japanese auto components maker Denso Corporation, is eyeing Rs 5,000-crore revenue by FY18.
“We are targeting sales revenue of Rs 5,000 crore by 2017-18. Last year, our sales stood at Rs 3,500 crore. But let me add this was revenue we had clocked way back in 2010 fiscal when the domestic auto industry was on a song," Denso India deputy Managing Director Tako Nojiri told PTI.
The company, which is the single largest supplier of components to domestic carmakers like Maruti, Toyota, Honda, Hyundai, and Tata among others, is expecting an annual revenue growth of 9 per cent till 2020, he said.
The Japanese major entered India 32 years ago and now has nine manufacturing units and seven companies, employing over 4,000 people. It claims over 60 per cent market share car components in the country and also serves heavy vehicle-makers as well as the Railways.
When asked about capex plans to meet this higher growth target, Nojiri said nothing is in the pipeline now as the company has already installed capacity till 2020.
On the government plans to skip BS V and directly jump to BS VI emission norms, he said Denso is already Euro VI compliant and therefore no issues to meet the new deadline.
Japan-based Denso Corporation is an over USD 4.2 billion company and is a world leader in auto components.
Denso began operations in 1984 with a plant in Noida that produces starters, alternators, air conditioning systems, radiators, windshield wiper motors, ECUs, fuel pumps and fuel injectors for four-wheelers. It also supplies magnetos and CDIs to two-wheeler makers which are sold through over 190 service networks.
It has technical alliance with Subros and Lucas-TVS since the 1980s and in 2011 it established joint venture with Subros to design automotive ACs. Its technical center at Manesar (Haryana), set up in 2012, develops power trains, electric and electronic systems, information and safety systems, and small motors.
It acquired majority ownership of instrument cluster subsidiary of Pricol in April 2013 to increase its instrument cluster business and launched next-phase engine management system consisting of engine ECUs, fuel pumps and injectors that can comply with Bharat stage V norms in 2013.
Denso also has a JV with Kirloskar Group under the name Denso Kirloskar Industries.
(with agency inputs)