Greaves Cotton PAT up 44% for FY 07, Inaugurates Fourth light engines plant at Aurangabad

Greaves Cotton Limited, one of India's leading engineering companies, has reported higher revenue at Rs. 1229 crores for the year ended June 30, 2007 as against Rs.948 crores for the previous year (growth of 30%). The Profit after Tax (PAT) has increased to Rs.122 crores as against Rs. 85 crores for previous year (growth of 44 %). The Infrastructure Equipment business has taken a big leap with sales going up by 89 % . The Company has declared final dividend of Re. 1/- per share, making the total dividend to Rs. 7/- per share for the financial year.

The Company also announced the opening of its fourth light diesel engines manufacturing facility at Aurangabad, Maharashtra. It was inaugurated by the Company's Chairman, Mr. Karan Thapar today. The new state-of-the-art plant, which has been built with an investment of over Rs. 60 crores, is dedicated to produce twin-cylinder engines for various applications such as four-wheeled low cost commercial vehicles, gensets and construction equipment.

Speaking on the occasion Mr. Karan Thapar, Chairman said, "The engines manufactured at the new facility will cater to the fast growing four-wheeled vehicle segment". He further added that Greaves is already one of the largest independent manufacturers of light diesel engines for leading three-wheelers in India.

Recently, Greaves acquired Bukh-Farymann Diesel GmbH, a diesel engine manufacturing company in Germany. This acquisition fits well into Greaves strategy to move aggressively into global markets.

Greaves is a Rs.1200 crore, multi-product, multi-locational company with core competencies in the areas of engines and infrastructure equipment. The Company sustains its leadership through nine manufacturing units which produce world class products backed by comprehensive marketing and service / parts network throughout the country.

Source : Equity Bulls

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