The News Scroll 18 February 2018  Last Updated at 6:04 pm | Source: PTI

NBHC aims up to 35% revenue growth in FY18

NBHC aims up to 35% revenue growth in FY18
outlookindia.com
1970-01-01T05:30:00+0530

Mumbai, Feb 18 National Bulk Handling Corporation (NBHC), fully owned subsidiary of private equity major TrueNorth, is eyeing up to 35 per cent growth in revenue this financial year, a top company official has said.

The company's revenue stood at Rs 217 crore during 2016-17, NBHC Managing Director and CEO Maninder Singh Juneja told here.

"Our storage and collateral business segments have performed really well. On the back of this, we are expecting up to 35 per cent growth in revenue in this financial year," he added.

NBHC has five business verticals, including agri-commodity warehousing, collateral management, procurement and supply chain management, quality assaying and certification and pest management and audit.

Juneja said the company is planning to add capacity by 1.5-2 million tonnes to the existing 7 million tonnes.

On investment for this pipeline, he said NBHC mostly operates on lease and only has 80,000 tonne capacity is company owned, so it does not require much funding.

"We have a strong presence in the northern and the western regions, including Punjab, Uttar Pradesh, Delhi, Maharashtra and Madhya Pradesh. We are planning to increase our market share in the southern region like Telangana, Tamil Nadu and Andhra Pradesh," he added.

Juneja said the company has presence in the southern states but now there is a need to expand.

NBHC is looking to tap the growth potential in the east as this region -- including Bihar, West Bengal and Odisha -- is comparatively new for the company, the CEO said.

In the quality assaying business segment, the company is expecting the Food Safety and Standards Authority of India (FSSAI) licence for its 40 labs spread across the country before the end of this financial year, Juneja said.

"We are waiting for FSSAI licence, which will ensure the faster quality approval and help in the export and import of agri-commodities. We are expecting to get the approvals before the March end. This will be another area of growth for the company in the next financial year," he added.

The company has the capacity to test 170 agri-commodities in its labs.

NBHC handles over 160 commodities and has over 3,600 warehouses across 23 states.

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds.
Next Story : J&K Council chief taps Pune firms for limestone, marble mining
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store