Chennai, Apr 11 (PTI) The USD 2.5 billion diversified business conglomerate Kalyani Group is eyeing to double revenue from its defence business over the next three years, a top official said here today.

“Currently, the defence business constitutes about 10 per cent of our revenues. We are looking at doubling it to 20 per cent in next three years,” Kalyani Group Chairman, Babasaheb Neelkanth Kalyani said.

The company is participating in the ongoing DefExpo organised by Ministry of Defence and has showcased several products including ultra light Howitzers, artillery guns, ordnance components.

“Currently, the revenue is about Rs 100 crore from this business. The order size for making artillery guns is five units,” he said.

The company has invested about Rs 500 crore in the defence business so far, he said.

The Ultra-Light Howitzer — a gun system — has been indigenously designed and developed by the Group. The gun comes in two variants — the conventional recoil and hybrid recoil.

The salient feature of the Howitzer is digital fire control, high reliability and easy maintenance.

To a query, Kalyani said the ultra-light howitzer was a specialised product as it weighs only 5.5 tonnes as against existing range of 16.5 tonnes. “It is 10 tonnes lighter than existing ones,” he said.

Kalyani Group is also showcasing armoured troop carrier, 120-kg thrust gas turbine engine, dual technology mine detector and solutions for aerospace sector.

On his views about the state of defence industry in the country, he said, “it is very low, compared to a small country like Israel which has sophisticated technologies in defence.”

This is published unedited from the PTI feed.