New Delhi: Compact Lamps Friday said it is targeting a turnover of Rs 1,000 crore in three years as it forayed into LED lighting segment with its own brand.
"After being a original equipment manufacturer (OEM) for leading lighting companies in India, we decided to launch our own brand Orkus. We are targeting a turnover of Rs 1,000 crore in three years for the company and expect Orkus to contribute 30 percent of sales," Compact Lamps Managing Director Kapil Gupta told PTI.
The company reported a turnover of Rs 450 crore in the previous fiscal.
Compact Lamps will also invest Rs 100 crore to set up a new plant for LEDs. At present, the company has four plants with production capacity of 2 million units per months in Uttarakhand.
Gupta said that the company is also looking at going public with its initial public offering (IPO) in two years.
Orkus' product range includes LED bulbs, tube lights and panels.
