KOLKATA, 22ND NOV: Amidst the recessionary markets where the writing instrument industry is growing at about 8% to 9%, Kolkata-based Linc Pen and Plastics, foresees 15% sales growth for the current financial year.
The manufacturing capacity of the company had also strengthened from 1.5 million pens a day to 2 million pens a day with an additional export oriented unit (EOU) at Falta in West Bengal.The company has three manufacturing facilities in India with a production capacity of two million pens per day. Two of the units are in West Bengal and the other is in Delhi. Linc currently exports pens to South America, the UK, the US and the West Asia.
Deepak Jalan, managing director, Linc pointed out that the writing instrument industry was roughly pegged at Rs 21 billion of which the branded segment was worth about Rs 16 billion and project a more than 5% growth in the market share by 2010 from its current share of 10%.
He added that Linc was also focused on overseas markets such as US, UK, South America, West Asia and neighboring countries such as Nepal, Myanmar and Bangladesh and its export earnings had increased from Rs 260 million in 2007 to Rs 380 million in 2008.
The manufacturing capacity of the company had also strengthened from 1.5 million pens a day to 2 million pens a day with an additional export oriented unit (EOU) at Falta in West Bengal.
Shares of the company gained Rs 1.25 or 6.93%, to trade at Rs 19.30. The total volume of shares traded was 5,865 at the BSE (10:14. a.m., Wednesday).