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The UK-based €1.5-billion Caparo Group is looking to more than double its profits from Indian operations to Rs 500 crore by 2013, its Chairman and Founder, Lord Swraj Paul, said today.
The group, which has built a strong presence in auto components with 32 manufacturing plants in different parts of the country and also has interests in the energy sector, would be ramping up its production.
The Caparo Group, which was founded by Lord Paul in Britain in 1968, has earned Rs 200-crore profits from Indian operations. Its worldwide operations are spread to Britain, other European countries and the US with industrial products including steel pipes.
The Caparo Group has “invested a lot of money in India and we are starting seeing returns’’, Lord Paul told PTI.
“I always look at the profits not the turnover. I would like to see Rs 500-crore profit by 2013 (from Indian operations). Today, it is about Rs 200 crore. We will ramp up production and cut cost,” he said.
He said Caparo is one of the largest auto component makers in India and supplies about 30 per cent of the components of Tata Nano, among others.
The group’s manufacturing plants are spread across the country’s automobile hubs like Chennai, Pune, Jamshedpur and Gurgaon.
Asked if his privately held group would consider listing any of the firms in India, 81-year-old Lord Paul said: “I am not enamoured,” although his children may want it.
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