Micromatic to invest Rs 100 cr on capacity expansion
Micromatic Grinding Technologies Ltd, manufacturer of precision grinding machines, will invest Rs 100 crore in capacity expansion and increasing brand visibility as it eyes a consolidated turnover of Rs 750 crore in the current fiscal.
By PTI |
NEW DELHI: Micromatic Grinding Technologies Ltd, manufacturer of precision grinding machines, will invest Rs 100 crore in capacity expansion and increasing brand visibility as it eyes a consolidated turnover of Rs 750 crore in the current fiscal.
"We would be investing Rs 100 crore in capacity expansion and branding of our products in the next two years. The first phase of expansion is almost over and we would pump in another Rs 25 crore in the plant to take its annual capacity to 500 units by next fiscal," Micromatic Technologies Chairman and Managing Director N K Dhand told reporters here on Thursday.
The company, a part of the AceMicromatic group, has already invested Rs 25 crore in the first phase of expansion to add a new unit at its plant in Ghaziabad, which would see it nearly doubling the production capacity to 400 units per annum.
He said the company would further invest Rs 50 crore in the current fiscal to set up four tech-centres in Bangalore, Chennai, Gurgaon and Pune where the company would display its products and provide after sale services.
The company recently entered into a technical agreement with Japanese machine tool major JTEKT Corporation for new products to be manufactured in India, that would primarily cater to the needs of small engine manufacturers, he said.
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JTEKT would market the newly developed machine in South East Asia and Middle East.When queried on how would the company fund its expansion, Dhand said, "the funding would primarily be done through internal accruals and the company would look at the public issue option in case need arises."
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