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Sunjay Kapur, Chairman of Sona Koyo Steering Systems, says the company was not on some of the high-growth platforms such as compact SUVs.
Sunjay Kapur, Vice-Chairman & MD of Sona Koyo told CNBC-TV18 that frowth decline in customers impacted growth in second quarter.
In an interview to CNBC-TV18, Sunjay J Kapur, Vice-Chairman & Managing Director, Sona Koyo Steering Systems, discusses the company's earnings and its future outlook.
The company announced a fall in consolidated total income at Rs 372.7 crore versus Rs 393.5 crore (down 5.3 percent).
Speaking to CNBC-TV18 on a robust set of Q2 numbers, Surinder Kapur, chairman and mananging director, Sona Koyo Steering Systems, says the company has sold its investment in Europe for 7.75 million euros and that will help strengthen the auto component manufacturer‘s balance sheets.
Sona Koyo Steering Systems expects to grow its sale by 7-8 percent in FY14 and sees its operating margins improving to 13 percent during the year.
Surinder Kapur, CMD of Sona Koyo said auto component industry has been going through a flat phase mainly because the automotive industry itself has been flat. For Sona Koyo, the Maruti strike at Manesar impacted our growth last quarter, he added.
In an interview to CNBC-TV18, Surinder Kapur, chairman and managing director of Sona Koyo Steering System says, in Q3, the pressure has been more on the top-line. He expects revenue to be flat this year.
PINC Research has come with its quarterly earning estimates for automobiles sector.
In an interview to CNBC-TV18, Surinder Kapur, CMD of Sona Koyo Steering Systems said, the company has had good Q1. He further said, the company will end up the year at least with 10-15% growth over last year.
In an interview with CNBC-TV18, Surinder Kapur, CMD, Sona Koyo says, the company’s revenue has grown from Rs 242 crore to Rs 290 crore. In the current year, he expects, Rs 1,200 crore to Rs 1,250 crore revenue on a standalone basis.
PINC Research has come out with its earning estimates on automobiles sector for the quarter ended March 2011. According to the research firm, Sona Koyo Steering March quarter sales are expected to go up by 20.8% at Rs 291.8 crore, Year-on- Year, (YoY) basis.