Glass and abrasives maker Saint Gobain mentioned it’s on observe to attain Rs 20,000 crore annual income in India on the group stage by 2028 regardless of short-term challenges introduced on by the Covid-19 pandemic.
The firm’s income for the quarter to March 2021 grew 18% in comparison with the identical interval in 2019, based on Santhanam B, chairman and managing director, Saint-Gobain India.
Santhanam expects the present surge in Covid-19 infections in India to make a dent within the enterprise however mentioned that it’ll solely be a short-term blip.
“We are well on track to Rs 20,000 crore revenue by 2028,” he informed ET in an interview. The group’s annual income in India was Rs 7,600 crore in 2019, he mentioned, however didn’t disclose the topline for 2020.
Saint Gobain has two listed entities in India,
and Saint-Gobain Sekurit India, in addition to the unlisted arm, Saint Gobain India, which manufactures glass, automotive glass parts, glasses for photo voltaic panels, refractories, crystals for detectors and gypsum plasterboards and development chemical compounds.
The firm is betting massive on client residence inside decorations and sees a chance in offering built-in options.
“We are moving into a lot of adjacencies and moving closer to the consumer. If someone installs a shower enclosure at home, today we supply only the glass but with the digital infrastructure we have, we have the capacity to reach closer and do the entire value chain,” Santhanam mentioned.
The firm presently collaborates with LivSpace, HomeLane and Design Cafe within the residence inside house and is open to choosing up a stake in upcoming firms on this house.
According to Santhanam, there may be additionally lots of alternative for the group in India post-pandemic as firms look to re-work their provide chains and search for extra home sourcing. Grindwell Norton might regionally provide a number of merchandise presently imported by Indian firms, he mentioned, particularly refractory materials.
The firm additionally exports a number of merchandise out of India, particularly refractories, bullet-proof glass and fire-safety glass with exports accounting for 20% of total income.
Saint Gobain was arrange in France in 1665 and was initially a mirror producer.