Omax Auto is rallying on strong earnings boosted by higher volumes. CNBC-TV18 spoke to the chief financial officer of the company P K Bansal on how they see the next fiscal panning out.
Below is an edited transcript of their interview. Watch the accompanying video for more.
Q: You have done close to about 10-15% odd in terms of a revenue growth in the past nine months. How are you likely to end FY12?
A: FY12 will not be less than Rs 1,300 crore and in terms of bottomline it will not be less than Rs 45 crore.
Q: How is FY13 looking?
A: FY13 looks to be very good compared to FY12, because we have started a lot of initiatives this year that would definitely be reflected in the next year. So we are looking at a very bright FY13.
Q: For this quarter’s earnings, throw some light on the revenue growth on a year-on-year and a sequential basis? What led to the upmove?
A: In this quarter we have achieved around Rs 338 crore sales as compared to Rs 297 crore same time last year. We achieved around 10% growth in the topline and 30% growth in the bottomline.
Q: You spoke about a couple of initiatives that the company has taken which will help FY13. What are the initiatives?
A: Yes, we are talking about some new technology initiatives from foreign promoters in the next year which will definitely add to the product line in the company and some new quality products in the company.
Q: Is this in discussion stage? Is there any tie-up with any company or any JV?
A: Yes, but I cannot disclose them right now. We have two-three tie-ups which are in the discussion stage.
Q: Shed some light on your major customers. Who do you get your maximum sales from?
A: Our biggest customer is Hero Motors which has contributed 60% of our turnover.
Q: Any new clients we can expect from the company going forward or any sign of increase in orders?
A: In the same segment we are trying to get more business from Yamaha, Honda Motorcycle as compared to Hero Honda in the two-wheeler segment. We are also tying up with Ashok Leyland to do very good business from them.