Targeting 25% revenue growth for FY12: Elecon Engineering

In a chat with ET Now, Prayasvin Patel, CMD, Elecon Engineering, gives his views on company's performance and strategies.

ET Now: The top line growth was rather muted, you were able to show decent traction on the bottom line. Do you think the bottom line performance could continue in the quarters ahead or will we see pressure?

Prayasvin Patel: As a matter of fact, we believe that we will be able to continue with this bottom line growth as well as the top line growth because we have a target of reaching 25% growth this year.

ET Now: Both on the top line and bottom line?

Prayasvin Patel: The bottom line will remain the way it is as it has been in the first quarter but we expect that the growth would further increase in the top line.

ET Now: Which is fine but the question really remains that you have seen a margin expansion as well, keeping all of that in mind, what would you do in terms of FY12, in terms of bottom line compared to what you did in FY11?

Prayasvin Patel: The PAT which we have shown a growth rate of 12%, we expect that we will continue at the same rate at the end of the year.

ET Now: One quick word on the total debt on the books of Elecon Engineering and how much do you hope to retire what is the timeline for the same.

Prayasvin Patel: We are looking at alternative sources of collection of funds for our long term requirements and we would be coming out in the market for these additional needs.