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T. Murrali

Chennai, Feb. 15 The Chennai-based Shriram Group is scouting for a partner for its associate company, Rambal Ltd, primarily to take it forward leveraging the growth opportunities in India and abroad. Speaking to Business Line, the Managing Director of Rambal, Mr T.A. Sridhar, said: “The reason is to bring in different technologies, which will help augment growth at a faster pace.”

The turnover of Rambal — a 74-per cent stake lies with the Shriram Group and the rest with NRIs — during 2006-07 was Rs 45 crore and it would cross the Rs 100-crore mark in two years, he said. The share of exports in turnover during 2006-07 was 40 per cent and it would cross 70 per cent this fiscal, he added.

Rambal is into precision turned components, shafts, shock absorbers and textile components. In the automotive vertical, the company will soon become a single source for the suspension system of the new generation golf cart ‘E-Z Go’, manufactured by US-based Textron Inc. Towards this it has already set up R&D facility, which would further be augmented with a testing facility to primarily shrink the development time. Rambal would be investing Rs 8 crore for this purpose, the General Manager (Finance) of the company, Mr R. Madhavan, said.

During 2008 the company would be supplying about 60,000 suspension systems to Textron and at full volume it would be supplying about one lakh units, Mr Sridhar said.

The company is in discussions with a couple of off-the-road vehicle manufacturers in the US to supply the suspension system and steering dampers. It has already been supplying similar products to lawn mover manufacturers in the US like X Mark and Ariens Lawn Movers.

Rambal has been supplying piston rods to Wipro Hydraulics It is investing Rs 2 crore in an additional manufacturing line to meet Wipro’s demand, he said.

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