Ozone Eyes Rs 1000 Cr Revenue By 2021 From New Biz
New Delhi, Jul 4 Everstone Capital PE equity funded firm Ozone Enterprise Group expects a revenue of Rs 1,000 crore by 2021 helped by its foray into internet of things products and security and surveillance business.
The company plans to invest over Rs 100 crore in manufacturing of security and surveillance electronic products and Internet of Things (IoT) enabled solutions, Ozone said in a statement today.
“We plan to invest over Rs 100 crore on diversification into these new businesses in next two years, and we are contemplating both organic and inorganic options for diversification. We are all excited and hope to take Ozone brand to the next milestone of Rs 1,000 crore turnover by 2021,” Ozone Enterprise Group , Founder & Managing Director, Alok Aggarwal, said.
The company provides safes & vaults, locks, fire & safety doors and urban furniture to enterprises.
Ozone said diversifying into B2C segment with new business lines will help it garner targeted revenue.
“The brand has been growing steadily at a CAGR of 21 per cent for the last few years and it’s time that we looked at a quantum jump by diversifying into new businesses,” Aggarwal said.