FY08 turnover seen at Rs 360 crore: ACE

3343 Investors following Action Const. Share this News with them.

0

Like this story, share it with millions of investors on M3

FY08 turnover seen at Rs 360 crore: ACE

Sorab Agarwal MD of Action Construction Equipments says that the company's FY08 turnover is seen at Rs 360 crore, while profits are seen at Rs 36-40 crore.

Post your opinion here

 

0

Tweet

Share on Tumblr

Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Hold Action Construction Equipment Action Construction debuts with 54% premium Action Const BSE | NSE 25/05/12 Are Mutual Funds betting on Action Const?

Sorab Agarwal MD of Action Construction Equipments says that the company's FY08 turnover is seen at Rs 360 crore, while profits are seen at Rs 36-40 crore.

He says that their new plant in Faridabad will contribute from Q4 FY07 onwards.

Agarwal also says that their Italian and Chinese acquisitions are not factored into FY07 and FY08 forecasts.

Excerpts from CNBC-TV18's exclusive interview with Sorab Agarwal:

A: We have been witnessing a very strong growth in our operations in the last four-five years. Going forward, within this year, we have been doing quite well. We are targeting a net turnover of at least Rs 240-250 crore by the end of this financial year.

Our Uttaranchal plant has also started this month. We are looking forward to some tax savings in terms of income tax from that plant. So our bottomline should be around Rs 23-24 crore, profit after tax.

A: I think it should be anywhere between Rs 5.5-13 by the end of this year.

A: The new manufacturing plant that we are setting up will be functional in January 07 and will contribute little in the last quarter of this year.

This new plant, coming up in Faridabad, will be dedicated towards Back Hoe Loaders. This is a new product segment, which we will enter. I think about Rs 25-30 crore would be chipped in, in addition to the turnover of the company within this year itself.

Contd on Pg 2....