No plans to sell India business, to be $3bn co by FY14: Lupin | business | Hindustan Times
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No plans to sell India business, to be $3bn co by FY14: Lupin

business Updated: Jul 27, 2011 20:42 IST

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While assuring the shareholders that it had no plans to sell its India business, drug firm Lupin on Wednesday said it aims to be a USD three-billion company by 2014.

"We have worked out our strength and I would say the certainty with which we can achieve our goals... By next year we should be a minimum USD 3 billion company," Lupin founder and chairman Desh Bandhu Gupta said during the company's annual general meeting here. Lupin is currently a USD 1.92 billion company.

To achieve its target, the company will try to expand its capacities and also acquire companies in the countries it wants to foray into.

The firm will also try to increase its revenue from Japan, which will provide a fillip to its target.

"We have significant growth plans for Japan. We have a strong pipeline that we are pursuing within Japan and we are supplementing that with India also. Japan now contributes about 11% of our revenue. Hopefully, by 2014 it should be 15%," the company's chief executive officer Vinita Gupta told reporters.

The US contributes about 35% of the company's revenue and India's contribution is about 30 per cent, Gupta said adding that she expects the share to be the same by 2014.

The company's managing director Kamal Sharma said, "We certainly have plans to have acquisitive growth. About 75-80% of growth will be organically done and balance would be attained by inorganic strokes in the markets that we want to present in the future and also in the area of technology."