Hyderabad, April 5
Ludhiana-based SK Bikes Pvt Ltd, a player in the cycle industry with pan-India presence, announced its expansion plans here today.
Executive director Sachin Lakra said in a statement the company had reached a landmark daily production of 2,000 bicycles and with the increasing demand for its products, it will soon increase it to 2,500.
Starting from 7,000 bicycles production in 2002, SK Bikes had reached the six lakh-mark last year and became the fifth biggest bicycle producer in the country. He also disclosed the company had planned major expansion by way of acquiring a state-of-the-art paint workshop or to set up one and an R&D centre.
The company had earmarked Rs five crore for its expansion plans. Capacity would ten go up to 3000 bicycles per day. This would enable the company to become the third largest bicycle producer in the country. The expansion programme will be completed in next one year. Currently it had a sales turnover of Rs 100 crore (FY 2009) and expects to register 25 per cent growth in the fiscal 2009-2010.
