Mumbai: German glass conglomerate Schott AG today announced sales of Rs 341 crore in India during 2017-18 (October 1, 2017, to September 30, 2018), marking an increase of 32.6 percent in the year-on period which converted into 26.2 percent after currency effects.
The key growth driver segments for the country were Schott’s tubing, pharma-packaging and flat glass for cooking.
Murali Viswanathan, Managing Director of Schott India, said the Indian pharma industry is expected to grow over 15 percent till 2020 and outperform the global pharma industry. “This, clubbed with the conducive environment for manufacturing industry enhanced via ‘Make in India’, has been a driving factor for our exemplary growth.”
Next, to organic growth, Schott plans to further enhance its offerings through focused, strategic acquisitions.
Seven mergers and acquisition transactions took place in the past fiscal year with a strong focus in the fields of big data and artificial intelligence.
This expansion of the innovation pipeline also led to the introduction of 100 percent inspection systems in Schott’s plant at Jambusar in Gujarat.
“The new tank facility being set up in Jambusar is expected to be complete by 2020 and will increase our production capacity by an additional 50 percent,” said Sundeep Prabhu, Schott India’s Vice-President for Sales and Marketing.
“This will help us address the expanding client demands for our high-quality offerings in India as well as other foreign markets.”