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Home arrow News arrow Business News arrow Elecon Announces ambitious 20% Growth target for 2009 – 2010
Elecon Announces ambitious 20% Growth target for 2009 – 2010 Print E-mail
Written by Anand   
Friday, 15 May 2009
Ahmedabad : Elecon Engineering Company Limited, India’s largest Material Handling Equipments, Industrial Gears and Transmission Products manufacturer today announced its growth plans for the year was 2009-2010. The company expects to grow by 20% with Sales Target of around Rs. 1150 Crores in the current fiscal year.

Elecon Engineering recently announced its audited results for the financial year 2008-09. The Company has recorded a turnover of Rs.955.06 Crore as against Rs.826.43 Crore last year representing a growth of 16% and net profit of Rs.57.45 Crore.

The company continues to enjoy a healthy order position by controlling cost and improving efficiency.

Elecon’s unexecuted order value as on March 31st, 2009 is Rs. 1627 Crores. Export order booking & invoicing target for Gear Division during the year 2009-10 is around Rs.90 Crores & Rs. 50 Crores respectively. To further enhance profitability and make on time deliveries, the company is taking several initiatives to meet the order book.

Commenting on the company’s growth plans, Mr. Prayasvin Patel, Chairman and Managing Director, Elecon said, "Our passionate commitment to technology, state-of-the-art infrastructure and with the growing demand for our products within India and Globally, we look forward to a sharp growth trajectory. The company expects to grow by 20% with Sales Target of around Rs. 1150 Crores in 2009-10".

"By consistently upgrading the technology with flexible machining systems, quality control equipment, online computerized inventory control and execution programmes managed by using state of the art ERP software, the company has remained ahead of the competition.," said a statement issued by the company.

Through its supplies of highly sophisticated equipment, Elecon is now present in core sectors such as fertilizer, cement, coal/power generation, chemical, steel plant and port mechanization etc., in national and international markets.

The company has recently received orders worth 200 crores

- Order worth Rs. 120 Crores from Mundra Port & Special Economic Zone Ltd., Ahmedabad for Material Handling System for West Port, Mundra Project Adani.
- Order worth Rs. 21.99 Crores from Adani Power Ltd. Mundra Ahmedabad for Material Handling Systems for Adani Power Ltd, Mundra Project.
- Order worth Rs. 18.50 Crores from Tecpro Systems Limited, Chennai for Supply of Equipments for Coal Handling System of 1050 MW Coal Fired Thermal Power Project
- Order worth Rs. 10.29 Crores from BGR Energy Systems Ltd., Chennai for supply of Rotary Breaker, Ring Granulator, Roller Screen & Mandatory Spares for Mettur Thermal Power Station.
- Order worth Rs.6.43 Crores from Humboldt Wedag India Pvt. Ltd., New Delhi for supply of Wagon T ippler with Side Arm Charger, Apron Feeder & Coal Crusher. INT ERNAT IONAL ORDERS
- Order worth Rs. 21.54 Crores from Egyptian Sponge Iron and Steel Co. for two nos. Stackers cum reclaimers for DRI Plant to be installed in Sadat City, Arab Republic of Egypt.
- Order Worth Rs. 2.73 Crores from Indonesian Company PT . Engineering for Project- PLTU 1 Jawa 2*(300-400MW) Coal Fired Power Plant at Rembang, JawaTengah, Indonesia.

 
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