Mumbai, Oct. 13 -- The Kirloskar Group, led by siblings Atul and Rahul Kirloskar, has set itself a target of doubling the cumulative revenue across companies to $5 billion by 2030 as these firms enter newer businesses and segments.

Spanning four listed companies-Kirloskar Oil Engines Ltd (KOEL), Kirloskar Pneumatic Company Ltd, Kirloskar Ferrous Industries Ltd and Kirloskar Industries Ltd-the group plans to invest Rs.5,000 crore over the coming three years in new manufacturing capacities, said Rahul Kirloskar, chairman of Kirloskar Pneumatic and Kirloskar Ferrous.

The group's revenue growth has been stagnant over the past decade, largely due to a lack of new products. However, a turnaround that began about three years ago has resulted i...