Financial Daily from THE HINDU group of publications
Saturday, Mar 23, 2002
Financial Daily from THE HINDU group of publications Saturday, Mar 23, 2002 |
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Corporate
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Outlook Tyco group sees 15 pc rise in sales
Abhrajit Gangopadhyay
BANGALORE, March 22 MULTI-PRODUCT engineering group Tyco expects to report sales of close to Rs 391 crore in the current financial year for its local operations, up 15 per cent over last year's Rs 340 crore. Tyco operates in the country through three wholly-owned subsidiaries and four joint ventures. Close to 45 per cent of the group's turnover comes from exports. "These are tough times," Mr Samir Inamdar, Managing Director of Tyco Electronics Corporation India (P) Ltd, said. A slowing industrial growth that cramped local economy last year could hinder Tyco's sustained growth, he added. However, indications of "things picking up" could again propel Tyco to report a robust growth in the next financial year, he said. However, he did not detail the expected growth rate for the next financial year. The group would look at automotive and telecom segments as its triggers for growth. Tyco Electronics has an integrated harness design and manufacturing facility at Pune that provides the complete interconnection solutions for the automotive industry. Tyco has designed and manufactured the harness for Tata's Indica. "Last year was hard for Indica...we also suffered...but this year it has started to pick up, though we have to fight much harder," Mr Inamdar said.
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