“The pricing war has also reduced in the market which is going to get us improved margins. We expect to generate a revenue of Rs 300 crore from the sale of printers and GMA business service in the next two-and-a-half years.” – Atul Thakker, Minosha India
Digital printing solution firm Minosha India, formerly Ricoh India, is expecting to generate a revenue of Rs 300 crore in the next two-and-a-half years by servicing globally managed accounts and sale of multifunction printers, a senior company official said.
Minosha India Managing Director Atul Thakker told PTI that easing price competition in the market is also bringing instability and margins in the enterprise printing business.
‘We have started servicing some of the globally managed accounts (GMA) of Ricoh in India and expect more to come over the period of next few months. The pricing war has also reduced in the market which is going to get us improved margins. We expect to generate a revenue of Rs 300 crore from the sale of printers and GMA business service in the next two-and-a-half years,’ Thakker said.
Ricoh India was listed on Indian bourses. Japanese firm Ricoh has stopped supporting the Indian arm after some accounting anomalies were found. Ricoh India later filed for insolvency and the entity was taken over by investors Kalparaj Dharamshi and Rekha Jhunjhunwala in 2019.
The company’s name has been changed from Ricoh to Minosha under the new management. It has connected again with Ricoh for handling its Indian business. Thakker said Minosha is in touch with Ricoh to source new printer models. He said the company has been installing 800 printers per month in India on normal business days.
Around 70 percent of cheques in India get printed on our printers. We have installations in Lok Sabha, Supreme Court, etc. The business has been running smoothly and now, we are looking at business expansion,’ Thakker said.
Currently, channel partners contribute around 66 percent of the total sale and the rest comes from the direct sale.
‘We are planning to expand our direct sales where we have a lot of headroom to grow. We will be increasing headcount to expand our direct sales. We are in the final stage of signing a deal with Ricoh Japan to increase our business portfolio,’ Thakker said.
He claimed to have installed and are maintaining 1,29,000 installations at remote locations for the Department of Posts.
Source: Business World