The turnover of V-Guard Industries Ltd, one of the leading electrical and electronic products manufacturing companies in the country, has crossed the Rs 10 billion mark in 2011-12, says an Economic Times report.
The company achieved a growth rate of 35 per cent in 2011-12, with the turnover increasing from Rs 7.25 billion in the previous year to more than Rs 10 billion for the year ended March 31, 2012. V-Guard had achieved a turnover of Rs 100 crore in 2000.
The company “has grown by a whopping 10 times in the last 11 years”, Mithun Chittilappilly, managing director, V-Guard Industries said. The company entered new markets outside South India around 6 years back. The sales turnover from these markets increased from Rs 80 million to Rs 2.28 billion in the last 6 years.
Arun Chittilappilly, managing director of Wonderla Holidays Pvt Ltd – a group company – said that an investment of Rs 550 crore would be made for setting up new water theme parks at Hyderabad and Chennai.
About 55 acres have already been acquired near the Hyderabad airport for the project. As part of the corporate restructuring plan in the company Kochouseph Chittilappilly the founder of the company would be the executive vice chairman of the two companies.
Kochouseph Chittilappilly said that he will be promoting a new venture called Veegaland Developers Pvt Ltd. The new company will take up two housing projects in Kochi in the coming months. Another group venture V Star Creations Pvt Ltd has made a foray into kids innerwear category.
