Jyoti Ltd eyes revenue of Rs 650cr over next 3 years

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Jyoti Ltd eyes revenue of Rs 650cr over next 3 years

Jyoti Ltd plans to raise Rs 30 crore in equity over the next six months and also Rs 60 crore in debt. In an interview with CNBC-TV18, Rahul Nanubhai Amin, CMD, Jyoti Ltd spoke on the company's fund raising plans, and revenue targets for the next three years.

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Electrical and hydraulic engineering equipment manufacturer Jyoti Ltd has plans to raise funds. It plans to raise Rs 30 crore in equity over the next six months and also Rs 60 crore in debt. Jyoti Ltd has capital expenditure plans of Rs 100 crore over the next three years. The company will issue equity by way of a private placement.

Its current order book stands at Rs 1023 crore and the company expects it to swell to Rs 2000 crore over the next three years.

In an interview with CNBC-TV18, Rahul Nanubhai Amin, CMD, Jyoti Ltd spoke on the company's fund raising plans, and revenue targets for the next three years.

Below is a verbatim transcript. Also watch the accompanying video.

Q: Tell us how much do you plan to raise, what are the routes that you will use both by way of equity and debt? More importantly how much of an equity dilution does this entail?

A: We plan to raise about Rs 30 crore by way of new equity. This will be applied towards expansion plans both in working capital and some in capital expenditure. There will not be any dilution in promoters stake.

Q: Any of these money will be used to repay your debt because as per your balance sheet there is a substantial amount of interest and financial charges and could you also tell us what the total debt situation looks like for the company?

A: Most of the money here will be used for future expansion. But we are going to have substantial cash flow generation this year because we plan to close this year with about Rs 400 crore and we are planning to have an EBITDA margin of about 15% this year. So our internal accruals will largely be used for paying of certain debts.

Q: How much would that amount to? What kind of a debt are you sitting on?

A: Our total debt is a little less than about Rs 100 crore.