Business Daily from THE HINDU group of publications
Thursday, Nov 06, 2008
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Business Daily from THE HINDU group of publications Thursday, Nov 06, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Outlook JCB India sees 10-15% dip in turnover Our Bureau Kolkata, Nov 5 Earth moving equipment major JCB India expects 10-15 per cent drop in turnover in 2008. The Indian arm of $4- billion UK-based JCB group posted a turnover of Rs 3,000 crore in 2007. Talking to mediapersons Mr Vipin Sondhi, Managing Director and CEO of JCB India, said that while the longer-term outlook of the country’s growth prospect is intact, he expects a “pause” in economic growth for approximately six months. “The high commodity prices and high interest rate regime in the first eight months of 2008 had generated lesser demand for our products. Accordingly, we are anticipating 10-15 per cent drop in turnover during the year,” he said. JCB follows the calendar year for accounting. JCB top brass was here in connection with the ninth International Mining and Machinery Exhibition (IMME ’08). The company has also launched its two new earth moving and material handling equipment at the exhibition. According to Mr Sondhi, JCB India produces approximately 24 per cent of the total number of equipment produced by the group. The company has two facilities in the country at Ballabgarh and Pune and markets its products in South East Asia. JCB entered the Indian market through an erstwhile joint venture with Escorts. The wholly owned subsidiary JCB India was set up in 2003. JCB to make India equipment export hub JCB India to set up warehouse, training centre in Pune More Stories on : Outlook | Engineering
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