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Stone India's new business to contribute 35% to turnover in FY15

PTI 17 Nov 2014, 10:51:15 AM IST

Kolkata: G P Goenka group company Stone India expects that new businesses will contribute around 35 per cent to its turnover this fiscal from almost nil in the previous year.

"This year, the share of our new businesses will be around 35 per cent of our turnover as compared to about two per cent in 2013-14. Share of revenue from Railways will come down to around 65 per cent," a company source told PTI.

In FY13, Stone India had earned a revenue of around Rs 104 crore.

Bio-toilets, solar and project engineering are the new businesses while Railways is the core activity of the company.

Though bio-toilets were introduced three years back but the product is yet to be popularised in a big way.

Stone India recently got its first major order of bio-toilets from Delhi Development Authority (DDA) for 200 parks in Delhi and if feedback stays positive, DDA may offer another contract for 1,000 parks.

With Swachh Bharat Abhiyan, the company remains highly optimistic for future of its bio-toilets.

Sources said the company has carried out innovation in the rooftop solar plant technology that will offer an advantage over the existing systems, besides allowing easy scalability being modular.

"We have brought some innovation in conversion technique that will supply AC current against DC current as most of the solar systems deliver.

"With this, capex will be down by 10-15 per cent and higher power harvesting will be to the tune of 15-17 per cent," the source added.