Construction and material handling equipment maker TIL has said it is looking at a revenue growth of around 35-40 per cent this fiscal on the back of demand from India’s infrastructure sector.
The company, which has earmarked a capex of up to Rs 200 crore for this fiscal, also said its second plant for producing engineering equipment — built near Kolkata at an investment of Rs 180 crore — would be operationalised by July-end.
“We expect growth in the construction and mining segments to continue and the government to invest more on infrastructure. We expect a topline growth of 30-35 per cent in 2011-12,” the TIL President and CFO, Mr Aloke Banerjee, said during a conference call.
The company had reported a net income of Rs 1,375 crore during last fiscal, which was a jump of over 30 per cent from Rs 1,054 crore in 2009-10.
Regarding the capex for this fiscal, Mr Banerjee said: “We have fixed a capex of around Rs 175-200 crore for this year. Of this, around Rs 140 crore will be for the new plant, phase I of which will be operationalised by the end of July.”
The new plant will produce rubber mould, coal cargo handling systems and wielder crushers, among other items.
The company also has an existing facility there for the manufacture of mobile cranes, including rough terrain cranes and truck-mounted cranes. The total capacity is over 220 units annually.