Financial Daily from THE HINDU group of publications
Friday, Jul 29, 2005
Financial Daily from THE HINDU group of publications Friday, Jul 29, 2005 |
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Corporate
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Outlook Cummins set to launch new series of engines Our Bureau
Pune , July 28 CUMMINS India Ltd is set to launch its B series of diesel engines by the second half of the current fiscal. The engines would be assembled at the Tata Cummins facility in Jamshedpur. Talking to newspersons after the company's annual general meeting, the Chairman, Mr Anant Talaulicar said the new B series would cater to the medium and heavy-duty segments, ranging from 100 hp to 230 hp. The C series engines launched sometime ago in the domestic market ranged from 230 hp to 300 hp. Mr Talaulicar said five years ago, the 100-125 hp range enjoyed the highest volumes but now the145 hp engine is more popular. A few years later the 180 hp engine is likely to enjoy greater volumes, he said. Mr Talaulicar said that owing to certain misconceptions about VAT, which was implemented in April this year, the company had lost 15 production days at its Daman unit. The new VAT norms would gradually diminish the relative attractiveness of locations such as Daman and Silvassa, where genset assembling units are currently concentrated. The company would take a decision on relocating these plants by the end of the current fiscal year, he said. The new location was likely to be some place where suppliers were concentrated such as Maharashtra, Chennai, New Delhi and Bangalore, or at one of the three OEM (original equipment manufacturers) bases — Silvassa, Bangalore and Jammu. The company has posted a net profit of Rs 35.36 crore for the quarter ended June 2005, as against Rs 28.9 crore for the corresponding period last year. Total income stood at Rs 344.14 crore, compared to Rs 294.99 crore for the corresponding quarter last year, he added.
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