The country’s largest two-wheeler maker Hero Honda today said it will announce the location and investment details for its proposed fourth plant within the next few weeks.
The company is understood to have shortlisted Gujarat and Karnataka for setting up the plant.
“For 2012-13, we will certainly need a fourth plant. In the next few weeks or months, we will be talking about the fourth plant,” Hero Honda Motors Senior Vice-President (Marketing and Sales), Mr Anil Dua, told PTI.
He, however, did not share any other details such as the likely production capacity and possible investment on setting up the facility.
“We will announce everything when the final decision is taken... We are in the final stages of the process,” Mr Dua said.
In April, the company had announced a capex of up to Rs 800 crore for this fiscal, the majority of which will be for setting up the fourth plant.
The company at present has three manufacturing plants at Dharuhera and Gurgaon, in Haryana, and Haridwar, in Uttarakhand.
In 2010-11, the net profit of the company declined 13.62 per cent to Rs 1,927.90 crore from Rs 2,231.83 crore in FY’10.
The total income from operations during the last fiscal, however, increased by 22.32 per cent to Rs 19,401.15 crore from Rs 15,860.51 crore in 2009-10.
Shares of the company were being quoted 0.90 per cent higher at Rs 1,863 apiece during afternoon trade on the Bombay Stock Exchange.