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Home arrow News arrow Business News arrow Elecon Engg targets Rs 1500cr turnover in FY12, capex of Rs 125 to 150cr
Elecon Engg targets Rs 1500cr turnover in FY12, capex of Rs 125 to 150cr Print E-mail
Written by Ganesh   
Friday, 27 May 2011
Mumbai: Elecon Engineering Company Limited is targeting a 25 percent growth in it's turnover over last year to approximately Rs. 1450 to 1500 crores. The company registered a standalone turnover of Rs 1177 crores during FY11 - 13 percent higher than the company's turnover of Rs. 1046 crores in FY10.

In the current year (FY12) the company plans to make capex investments to the tune of about Rs. 125 to Rs 150 crores. This is more than double the amount the company spent last year - Rs. 54 crore.

The capex will be utilised for capacity expansion at the materials handling equipment and gearbox manufacturing units. The capacity will be increased by nearly 65 percent.

The company's current order book stands at Rs. 1577 crores (MHE - Rs 1233 crores , Gear - Rs 344 crores), from Rs1,384 crore as on 31st March. This year (FY 12 upto 23rd May) alone the company has received orders worth Rs. 331 crores (MHE - Rs 292 crores, Gear - Rs 39 crores).

Elecon Engineering's PAT is up 33 percent at Rs 88 crore in FY11 from Rs 66 crore in FY10.  While the PBT is up 34 percent from Rs 90 crore in FY 10 to Rs 121 crore in FY11.

The turnover from it's Material Handling Equipments was up 5 percent at Rs. 653 crore in FY 11, compared to Rs. 620 crore in FY10. The turnover from it's Gear division registered a growth of 23 percent from Rs. 426 crore in FY10 to Rs. 524 crore in FY11.

Elecon Engineering had acquired the operations of Benzlers-Radicon Group in Sweden, UK and USA from David Brown Gear Systems Group. With this the company's consolidated turnover stands at Rs. 1288 crore in FY11, with the Gear division contributing Rs 604 crore and Rs 31 crore from other divisions.

The company has live enquiries of around Rs. 5000 crores as of April 30,2011.

In the year under review, Rs. 54.40 crores have been capitalized as fixed assets, out of which Rs. 25.58 crores is pertaining to MHE and Rs. 30.82 crores is pertaining to Gear.

Market Capitalization as on May 23, 2011 was around Rs.633 crores.

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