Cooper Corp eyes 150% rise in turnover in 2 yrs

Pune: Satara-based engine and generator maker, Cooper Corporation, has projected that its turnover in the next two years will take a "quantum leap," as its tie-up with US-based heavy equipment giant Caterpillar Inc (popularly known as CAT) begins to bear fruit.
Under the agreement signed in September 2015, Cooper Corporation will make generator sets for Caterpillar, which in turn will re-brand them under its FG Wilson brand and sell worldwide."Our competition was taken by surprise, when we tied up with Caterpillar...this business was a big plus for us," says Farrokh Cooper, chairman and managing director, Cooper Corporation.
The company has projected that its annual turnover will rise to Rs 1,500 crore by March 2018 from nearly Rs 600 crore now, a growth of 150% in two years. Cooper Corporation has an installed capacity to make 24,000 gensets per year. As demand grows, the company will increase its installed capacity and double the number of shifts it operates in (currently one shift in the gensets division).
As per Farrokh, his company was not a resort of first choice for Caterpillar. In his own words, when Caterpillar executives first approached his company, he said, "I am mouse and you are a giant...We were in fact last on their list." He said the "marriage with the moghul," happened because there was no conflict of interest.
He, however, brushed aside the thought that Caterpillar may one day look to acquire his company.
Farrokh's company has set-aside Rs 75 crore towards investment (mainly for capacity expansion) in 2016. This will be in addition to Rs 100 crore it invested in 2015. It hopes that its market share in the 300000 units genset market of the country will double from the current 5% to 10% by March 2017.
Farrokh said that the company will also be launching four new families of genset by the end of this year in the 5KVA to 500 KVA category.