Autoline Industries is all set to start supplying to Tata Motors' Dharwad plant next year.
For the last tow quarters interest cost for Autoline Industries have almost doubled. Currently the company is sitting on debt of about Rs 200 crore. CNBC-TV18 catches up with the management of Autoline to figure out if the company is trying to repay some of the debt.
The buzz that Autoline Industries is to sell stake to the Essar Ruia Group are false, said the joint managing director of Autoline Industries, M Radhakrishnan.
In an interview with CNBC-TV18, M Radhakrishnan, Joint MD, Autoline Industries said that the company is not changing it's business model. The company is preparing a master plan and it may plan to sell FSI to smaller builders of 5-10 acres each.
In an interview with CNBC-TV18, M RadhaKrishnan, joint managing director of Autoline Industries said," We supply to Toyota in the USA, and that too in a very less percentage. He said that the company will not be affected by the Japanese crisis.