Ricoh India Ltd, a subsidiary of the $19-billion Ricoh Company of Japan, plans to invest Rs 250 crore in India to expand business, a company official said here.
About Rs 20 crore will be invested in the company’s Gandhinagar facility, said Manoj Kumar, Senior Vice-President and CFO.A major chunk of the investment will be come from internal financing.
The company achieved 47 per cent growth with a top-line of Rs 633 crore last year, which it hopes to increase to 55 per cent with a top-line of Rs 1,000 crore in 2014.
R.S. Bawa, Chief Operating Officer, said the company has a two lakh customer base in India, where the market size is six lakh toner bottles a year. The Gandhinagar facility will make three lakh bottles annually.
Tetsuya Takano, MD, inaugurated a refilling machine at the toner bottling plant here on Tuesday.Ricoh, a leader in office and IT solutions, has 850 employees in India. Ricoh India comprises 1 per cent of the total business of Ricoh Company, based in Tokyo.