New Delhi, June 18: Ozone Overseas, a company that operates in the architectural hardware and security solutions space, expects to grow over 30 per cent in coming years, its Chief Executive Officer & Managing Director Alok Aggarwal said.
The company which earlier this month raised a funding of Rs 250 crore from PAG-backed Nuvama Private Equity, as part of its third late-stage/pre-IPO fund, expects the growing Indian economy and the desire of Indian customers to have quality residential products as per international specifications to drive demand.
Ozone Overseas is now investing in large manufacturing units for furniture hardware, which will not only help it to grow in the domestic market but also tap the export markets, he said.
“The other part is that we will be expanding our operations. We are coming up with experience and training centres across India,” said Aggarwal.
The first experience centre will be coming in Delhi around August and then the company intends to replicate across 10 cities in India over the next 12 to 18 months, he added.
“Then we are adding product ranges and warehousing, and further we will be investing in the branding activities for Ozone as well,” said Aggarwal.
For its homegrown solutions business, the company has consistency in development not just in developed metro markets, but from smaller tier II and III markets also.
Though Aggarwal did not share any revenue or turnover numbers but said: “We are north of Rs 500 crores for the previous FY 22-23 and looking to grow aggressively this year.”
When asked about growth for Ozone Overseas, Aggarwal told PTI :”In the short and medium-term, we are looking to grow beyond 30 per cent year-on-year.
“We have already achieved 50-60 per cent (growth) in the previous FY23 and there are multiple categories where we will be growing disproportionately, and further, we are looking at partnering with adjacent companies or even making acquisitions in this space,” he added.
Over Ozone’s journey, he said the 24-years-old company started dealing with locks and now it has grown into a full range of architectural hardware with a portfolio of over 5,000 products, which spans across doors of glass, wooden, and aluminium doors, kitchen hardware & wardrobes systems, and different kinds of furniture fittings.
It has a distribution network of over 7,000 retailers.
“We also have four manufacturing units of our own three are located in Kalaamb, Himachal Pradesh and one in Ghiloth Industrial area, Rajasthan. Over a period of time we have grown both in terms of our team, product range and customer base,” he said.
Besides India, the company also sells products across 50 countries, in the markets of Europe, the US and the Middle East. (PTI)
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