Honeywell Automation India Limited has informed the Exchange that the Company provides various services to Honeywell entities, and third party customers around the world. The billing rates for services provided to Honeywell have been re-negotiated and consequently lower billing rates are agreed with effect from January, 2012. These changes to billing rates are carried out after considering prevalent economic conditions, cost pressures and service availability through competition. The Company expects / estimates that such change in billing rates is likely to have negative revenue impact. It is estimated that such impact on total revenue will be approximately upto 1.5% percent in 2012.
NSE: HONAUT
Source: 
