mahikarnam

A top official said, “Power equipment firm Crompton Greaves Ltd will be spending Rs 2.2 billion in 2008/09 on expanding capacities across its three segments.”

Yesterday Managing Director S.M. Trehan said, “That should be good enough to add about 10-12 pct additional capacity.”

Trehan said, “The Company adds about 10 pct to capacity annually and last year spent about Rs 1.5 billion.”
At the end of July, it had an outstanding order book of Rs 62 billion, executable more than the next 15 months. Crompton Greaves focuses on the manufacture and sale of consumer products, industrial products and power systems.

The company is the flagship of the Avantha Group, which has revenues of more than $3 billion. Paper maker Ballarpur Industries is the additional listed entity in the group.

For the quarter to June, Crompton beat street estimates to report a 37 pct go up in net profit to Rs 1.23 billion, while a net sale goes up 26.7 pct to Rs 20.35 billion.