JAMSHEDPUR, July 26: Walchandnagar Industries Ltd, a heavy engineering products and engineering procurement and construction major, plans to focus on defence products, a top company official said today.
WIL, which had recorded Rs 150 crore turnover in defence sector along in the last fiscal, wants to achieve Rs 1000 crore turnover in next three to four years period, said G K Pillai, Managing Director and CEO of WIL.
“We have been supplying components for nuclear submarine, missiles and other defence equipments for along and would focus more on this sector following the approach of the NDA government,” Pillai said.
“We have plans to focus on production of components and spare parts related to defence sector, which has vast opportunity to grow,” he said.
The CEO said WIL has registered overall Rs 1,000 crore turnover in the last fiscal and likely to maintain the similar figure in the current financial years as well.
WIL, a Pune-based company, has been engaged in various Industry segments such as sugar and machineries, gear box, airspace as well as defence and missile components for past several decades.
Appreciating Modi-government for encouraging indigenous products in defence sector, Pillai, who was in the steel city to take part in HR Conclave 2014 organised by Confederation of Indian Industries (CII) here today, said currently, “we are importing 70 per cent of defence related components and spare parts.”
The figure would certain to come down to 30 to 40 per cent in next few years, if the indigenous companies start producing and help us to become self-reliant, Pillai, a former Managing Director of HEC Ltd, said. (PTI)
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