Patel Enterprises expects growth

S N Patel, owner of Patel Enterprises, has estimated the growth of the label industry to be a level of at 18-25 percent, and said he sees improved growth in the company this financial year. Patel Enterprises recorded a turnover of over Rs 10 crore (about 1.65 million USD) in 2013-14 with a year-on-year growth of 28 percent.

With manufacturing facilities at eight different locations in and around Mumbai, the company has a total production area of about 28,000 sq ft along with four company offices in Mumbai.

Patel said: ‘The Indian and Asian markets are very competitive. We lose orders for a few thousand rupees. People are not very open to buying machines from the local market. But when we display our equipment in overseas markets, they want to buy from us because of value for money and quality.’

At Labelexpo India, which will be held from October 29 to November 1 at Pragati Maidan in New Delhi, Patel Enterprises will exhibit a new die-cutting machine for complex designs. It will be low cost equipment priced at less than Rs. 5 lakh.

The best selling product at Patel Enterprises, the perforating machine, will also be displayed on the show floor. ‘Priced at approximately Rs 1 lakh, it is the largest selling product in my company. We manufacture 50 to 55 machines a month and currently have a backlog of at least 87 machines,’ said Patel.