Rinac aims 15% pie of refrigeration system in pharma sector
Vadodara: Rinac India Ltd, an integrated engineering solutions company, on Friday said it aims to capture 15 percent share of the Rs 500-crore worth of refrigeration system market in the pharma sector in the next two years.
"We currently have 5 percent share in the Rs 500-crore refrigeration system market in the pharma sector. We want to take this to 15 percent in the next two years," Rinac India Chief Executive Officer R Krishnan said here.
The company, which has manufacturing units in Mumbai and Bengaluru, offers cold chain infrastructure and solutions to the pharma sector and other industries.
The firm today organised 'Rinac Connect', a programme aimed at creating awareness on all aspects of refrigeration system in the pharma sector.
Representatives of drugmakers like Torrent Pharmaceuticals and Alembic, and dealers participated in the programme which will be organised in other cities also, Rinac officials said.
Currently, the market size of refrigeration systems in the pharma segment is about Rs 500 crore. The market is likely to grow on the back of a spurt in requirement for certified cold-chain infrastructure in healthcare, Krishnan stated.
"We expect at least 25 percent growth in our revenue to come from this segment in the next two years."
Rinac clocked revenue of Rs 121 crore in 2011-12 which it has targeted to take to Rs 180 crore in the current fiscal.