L&T; eyes 20 percent growth in electrical, automation businessJune 13th, 2011 - 8:04 pm ICT by IANS
Kolkata, June 13 (IANS) Engineering and construction major Larsen & Toubro is expecting a 20 percent year-on-year growth in its Electrical & Automation business in the next five years, a top company official said Monday.
“We are looking to grow at above 20 percent each year for the next five years in E & A business. Currently, the revenue from the business is about Rs.3,850 crore, which we want to increase to about Rs.8,000 crore,” Sharat C. Bhargava, senior vice president of Electrical & Automation at L & T, told reporters here.
He said E&A;, one of the nine independent companies of the $11.7 billion group, has five manufacturing units in India and six abroad.
The company was focusing on the re-structured accelerated power development and reform programme (R-APDRP) for its growth plan.
“The government wants to reduce the aggregate technical and commercial loss from 30 percent to 15 percent. An information technology overlink is created for all states under this project. We are doing it currently for Maharashtra and in the next stage all states will be coming under it,” he pointed out.
In April 2008, E&A; had acquired medium voltage switchgear company Tamco which has manufacturing facilities in Malaysia, Indonesia and Australia.
The company has secured orders worth Rs.110.31 crore from the West Bengal State Electricity Distribution Company (WBSEDCL) for supply of energy meters.
“West Bengal is set to become the only state where only electronic meters are used. Last year also we had signed orders worth Rs.25 crore from the state,” Bhargava said.
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