Security solutions provider Royace Eye Industries today said its revenue is expected to grow to Rs 300 crore in the next two years on the back of growing market and awareness about security products in the country.
“Last year, the company’s revenue was about Rs 50 crore and we are targeting it to increase to Rs 300 crore in the next two years,” Royace Eye Industries said in a statement.
It said that growing awareness and increasing dependency on security products would help the sector register healthy growth.
The company is also planning to invest Rs 600 crore in setting up of a manufacturing unit in the country besides expanding sales and distribution network.
It also announced appointment of Sudhanshu Rai as its Chief Operating Officer.
Rai would work on brand promotion, product development and distribution network expansion of the company.
The company is operating in 14 states via 500 outlets serving almost 38 cities, Rai said.