Rico Auto Industries will beaiming a projected After Market sales growth of Rs. 100 Cr by 2020
New Delhi, August 6, 2018:
Rico Auto after one year of successful journey of 2W in the after-market, announced its foray in the 4- wheeler aftermarket component segment. The announcement was made at a Distributor’s Meet organized to celebrate Rico Auto’s one year success. The company has been steadfast in establishing a strong network of 40 channel partners across India and marking a strong presence in Nepal and Sri Lanka as well. Last year Rico Auto after-market vertical started with 28 products, and added 250 more new products to existing lineup, taking the total product line up to over 400 products,in both the 2 & 4 Wheeler component segment by end of 2018-19.
Speaking at the ceremony, Mr. Arvind Kapur, Chairman, CEO & MD, Rico Auto said, “With the success of over 35 years in manufacturing components and success in the Indian OEMs auto component space it gives me pleasure to announce our foray in the 4-Wheeler aftermarket segment as we cherished overwhelming response and acceptability of our 2W products in last one year.We are highly optimistic and foresee a remarkable performance in the 4-Wheeler aftermarket. I would like to thank all our supporters, associates, dealers and other stakeholders who have been our support system over the years and look forward to developing close knit &mutually sustainable relationship to add another chapter to the remarkable growth story of Rico Auto.”
Mr. Surendra Singh, President and COO, Rico Auto Industries Limited said, “Rico Auto carries a legacy of Excellence, Commitment, Integrity, Teamwork & Entrepreneurship; with this perfect combination we have managed to reach significant milestones. Rico Auto has witnessed continuous growth since its inception with immense focus on R&D and Network Development. The focused approach has resulted in phenomenal growth for Rico Auto Industries in the financial market, a testimony of our credibility and the increasing trust of our investors”.
Mr. Abhishek Kulshrestha, Vice President – Corporate Materials & After Market Business Rico Auto Industries Limited said, “Our success is based on the unflinching commitment that Rico Auto has exhibited over the years. The recent success of achieving the target of INR 10 Cr in nine months in 2w segment has been a phenomenal journey for us in 2017-18. We are working aggressively on spreading our network not only in India but also overseas. We will soon be covering new uncharted territories with special focus on SAARC countries. We will be launching new aftermarket products range for the 2-Wheeler segment during the approaching festive season. Our aftermarket product range will set a new benchmark in terms of quality and will include an entire range of products in 2-Wheeler & 4-Wheeler aftermarket segment. Going forward we see tremendous growth opportunity in the aftermarket, which would help us reach our projected revenue of over INR 100 Cr by 2020.”
The aftermarket will have a range of products with its International quality standards like Clutch Plates, Clutch Assembly, Brake Shoes, Disk Brake Pads, Brake Drum, Alloy Wheels, & other aluminum parts in 2 wheeler segment and Brake Drum, Brake Pad, Brake Shoe & Brake Disc etc in 4-wheeler segment.