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Kamdhenu aims for ₹22K cr brand sales turnover by FY24: CMD Satish Agarwal

The Kamdhenu Group is aiming for a brand sales turnover of 22,000 crore from its steel business by financial year 2023-24, Satish Agarwal, CMD, said. 

The Gurugram-based company operates on a franchisee model in the steel segment. Besides steel, the company is also into manufacturing paints.

“Looking at the demand for our products, we expect a total brand sales turnover of 22,000 crore in the steel segment,” he said and explained “brand sales turnover includes the total business by the company (Kamdhenu Group) and its franchise partners.” During the FY 2020-21, the company’s overall brand sales turnover was 12,000 crore

Noting that the government is spending on infrastructure, he said, “The focus on development of roads, railways, ports, airports, mass transport, waterways and logistics infrastructure and PM AWAS Yojana will lead to demand creation for steel.”

Speaking about the current demand, Agarwal further said, “The demand for quality TMT bars from the housing sector in India is growing at a rate of 6-8 per cent compound annual growth rate (CAGR) annually, market size of his company in the organized TMT section is around 25 lakh tonne.”

Regarding the paint business, he said, “The revenue from this business was 202 crore in FY21, and the company is looking to achieve 1,000 crore revenue by financial year 2025-26.” The paint industry in India is growing at a rate of 18-20 per cent currently, he added.

The company, under the franchisee model, has TMT manufacturing plants in states like Odisha, Gujarat, Karnataka, Telangana, Andhra Pradesh, Bihar, Goa, Rajasthan, Uttar Pradesh, Uttarakhand, Himachal Pradesh, Punjab, West Bengal, Jharkhand, and Madhya Pradesh, among others.

Its paint manufacturing plant is at Chopanki in Rajasthan, where the company manufactures interior and exterior emulsions, stainers, colourants, designer paints, construction chemicals, waterproofing chemicals and other water-based speciality products.

(With inputs from agencies)

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