Trivitron Healthcare aims over Rs 1000 crore revenue in FY22

"We are looking at a revenue of over Rs 1,000 crore for the fiscal year 2022. It will be achieved through organic and inorganic growth," Trivitron Healthcare Chairman and MD GSK Velu told.

New Delhi: Domestic medical devices maker is looking to clock revenue of over Rs 1,000 crore in the fiscal year 2022 as it expands the number of manufacturing facilities and also eyes inorganic growth, a top company official has said. Trivitron Healthcare currently has nine manufacturing facilities across five locations - Chennai, Mumbai, Pune, Ankara and Helsinki -- and is in the process of constructing the tenth facility in Patalganga in Maharashtra.

The company is expecting to close the current fiscal year with a revenue of around Rs 700 crore.

"We are looking at a revenue of over Rs 1,000 crore for the fiscal year 2022. It will be achieved through organic and inorganic growth," Trivitron Healthcare Chairman and MD GSK Velu told.

At present, 60 per cent of the company's revenue comes from India and 40 per cent is international, he added.

"Going forward, Africa is going to be one of the biggest areas of growth for the company. We are also looking at both the US and China as key markets for growth this year and plan to have some kind of manufacturing presence in both the countries in the current calendar year," he added.

A manufacturing presence in the US and China would strengthen the company's presence in the two of the most important markets globally, Velu said.

Mostly, it would be through joint ventures with existing companies there, he said adding that the company already has a presence in these markets through trading infrastructure.

At present the company is mainly in-vitro diagnostics, imaging, intensive care, operation theatres and renal dialysis segments, he added.

"Out of these, in-vitro diagnostics and imaging contribute more than 85 per cent of our total revenues currently," Velu said.

But going forward, the company is focusing on the areas like radiation protection and newborn screening, he said and added that it is also investing in research and development in mass spectrometry and radiation shielding.

"The company is focusing on manufacturing and at present around 70 per cent of our revenues are coming from manufacturing," Velu said.

Read also: Trivitron Healthcare eyes Rs 750 crore revenue in Financial Year 2019

The company also has plans to list in FY23, but it would depend on many factors, he said.

On being asked about the state of medical devices sector in India, Velu said, as the sector is different from the pharma sector, it should have the separate regulator and a separate department of medical devices to promote the segment.

Read also: Trivitron Healthcare gets Ravish Mittal as new Group CFO