Mumbai: Riding high on the growing demand for electrical generators in the overseas markets, TD Power Systems is targeting 60 percent of its revenues from exports in the next two years.
The company currently manufactures generators of sizes in the range of 1-200mw for prime movers, such as steam turbines, hydro turbines, diesel engines, wind turbines, gas engines and gas turbines.
"There is a tremendous slowdown in the domestic market and we don't see immediate recovery. But at the same time, the demand for electric generators in the international markets is growing, which we want to tap," its Managing Director Nikhil Kumar said.
He said the company is eyeing 60 percent of its revenues from exports in the next two years.
"In FY12, exports contributed nearly 35 percent to our revenue and we expect this to increase to 40 percent this fiscal. Considering the huge potential in international market, we expect exports to contribute nearly 60 percent of our revenues," Kumar said.
The company is expecting to close this financial year with Rs 650 crore in sales, he added.
Currently, TD Power is supplying its products to nearly 60 countries, Kumar said.
"Central America, North America, Southeast Asia and Japan are the regions where there is a huge potential for us to grow. We expect to get more orders from these markets and will continue to penetrate deeper into these markets," Kumar said.
The BSE-listed company currently manufactures electric generators at its Bangalore facility for steam turbines, gas turbines, hydro turbines, and diesel and gas engines and has strategic tie-ups with Siemens, Voith and GE for both technology and marketing products outside the country.
About the prospects of the industry in the domestic market, he said, "we mainly supply to captive power projects. There is only a market of 10-12 plants where customers are looking at buying generators. So we don't have a clear visibility in the long-term. Yet we are hopeful."