Ricoh plans to set up manufacturing plant in India

Ricoh India Ltd, part of Tokyo-based Ricoh Group, plans to set up a manufacturing plant in India, a top company official said today.

Manoj Kumar, Executive Vice President & CEO, Ricoh India, also said the company, which clocked Rs 1,048 crore revenues last year, expects to touch Rs 1,500 crore during the current fiscal.

"We do have plans (for setting up plant), which we are currently evaluating. It is just a matter of time before we come out with something on manufacturing plant," Kumar told reporters in a press conference.

He, however, declined to elaborate more on details, such as investments and time-frame for setting up plant.

Ricoh-plans-to-set-up-manufacturing-plant-in-India

Replying to a query, he said the company is achieving 50 per cent growth on revenues for the past year and this year also it is expected to witness similar number in growth.

Ricoh India has recently bagged Rs 1,370 crore order from Department of Post, to provide Rural ICT solution. This System Integration contract further strengthens Ricoh's foray into IT services and showcases its ability to deliver such crucial and large scale deployment and also contribute in the development of India, he said.

"Our strong capabilities in the domains of Imaging, Communication and IT Services have enabled Ricoh to emerge as a one-stop business solutions provider. IT services is one of our key growth engines which contributed to 45 per cent to our total revenue last year. In the coming years we would like to expand our business and increase its contribution to 60 per cent of our total revenue," he added.

Kumar said appreciating US Dollar against Indian Rupee has impacted the company's bottom-line in the past. With the growth in IT services wing of the company, the impact was offset.

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