Micromax to invest Rs 2000 Crore for expansion plan

micromax expansion plan
source via- google search, business news, Micromax is planning to invest rs 2000 crore for its expansion in Hyderabad
Rajesh Agarwal, co-founder, Micromax, told reporters that the company will expand its operations to two to three countries this year.

Micromax targets 25 per cent growth during 2016-17 to achieve revenues of Rs.15,000 crore. The revenue in 2015-16 was Rs.12,000 crore.

The international operations contribute 8 percent to the company's revenues.

On the funding for expansion, Rajesh said they were looking at various options including IPO.

The Hyderabad facility, inaugurated by Telangana's IT minister K.T. Rama Rao, will have the capacity to manufacture one million mobile phones per month.

The company has also expanded its range to Tv and will be planning to launch more electronics products in the near future.
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