“Lava will launch Android based smartphones and 3G Tablet within a couple of months,” Lava International co-founder and director S N Rai said.
Mobile handset company, Lava International said it expects to end the fiscal with revenue of Rs 1,000 crore.
“We are expecting revenue of Rs 1,000 crore during this financial year. Lava will launch Android based smartphones and 3G Tablet within a couple of months. Our focus will remain on enhancing our research and development capability,” Lava International co-founder and director, S N Rai, told reporters. He said Lava is looking for expansion of business in Africa and looking at new geographies namely Peru and Chile. Elaborating on the company’s focus on research and development, Rai said that company has been successful in filing two patents and many more are in pipeline.
“We are soon going to expand our smartphone portfolio for which we will file large number of patents,” he said.
Rai added that within two months, Lava will launch its 3G tablet. He indicated that Lava is more eager to launch 4G devices than building up its 3G portfolio. The company today launched a robust feature phone A16 priced at Rs4,500 in partnership with music TV channel MTV.
Chief marketing officer of Lava, Sunil Raina, demonstrated the phone will remain safe even if dropped from five feet and the screen will remain unharmed even if someone with weight of up to 95 kg jumps on it.
"The logistics business has great potential and is expected to grow by another 20% year-on-year," Atlas Logistics chairman and managing director, Venkatesh Rao said.
Atlas Logistics, recently acquired by Japan's SBS Group, is eyeing 212% growth in revenue at Rs750 crore in five years on the back of growing demand in the sector, a top company executive has said. "The logistics business has great potential and is expected to grow by another 20% year-on-year. We have major expansions lined up, which will help in taking our revenue to Rs750 crore in another five years," Atlas Logistics chairman and managing director, Venkatesh Rao said.
The company's revenue is expected to be around Rs240 crore in FY12, he added. The Japan-based logistics company SBS Holdings bought out 80% stake in Atlas Logistics, the deal size was around Rs130 crore. The remaining 20% will remain with Atlas Logistics. The Bangalore-based company with a core expertise in food distribution, with about 2,500 customers, is looking at 20-25% growth in next 2-3 years on the back of new verticals, he added. "Our core strength lies in food distribution and we will expand it to entire agriculture sector, which has great potential," he said. The company is also planning to expand into verticals like warehousing, cold storage and refrigeration and some infrastructure services that is the core strength of the SBS Group, he said adding "this will not only increase our service offerings but will also attract more customers." SBS Group will infuse about USD 15-20 million as working capital for this expansion, he said
“We are seeing a slowdown in sales. In the quarter ended September, the sales growth was 12%. Overall, for the year-end it would be 6-7%," ShoppersStop managing director Govind Shrikhande said
Retail chain ShoppersStop said it expects the same-store sales to fall sharply to 6-7% by the fiscal end from a high 12% due to unfavourable conditions, and warned that the overall growth of the retail industry will halve next year.
"We are seeing a slowdown in the like-to-like sales growth. That is due to a combination of slowdown in the economy, indecisiveness in the manufacturing sector, and the rupee fall. We are seeing a slowdown in sales. In the quarter ended September, the sales growth was 12%. Overall, for the year-end it would be 6-7%," ShoppersStop managing director Govind Shrikhande said.
Same-store sales refers to the differential in revenue generated by a retail chain's existing outlets over a certain period of time compared to same period in the previous year which is helpful to investors/analysts. He added the retail industry that was growing at 20%, would grow at 10% over the next 12 months. The company announced the launch of its 49th ShoppersStop store.
It plans to take the number to 66 within the next two years. It will invest up to Rs400 crore to expand presence by opening new stores across formats in the next three years. The firm currently operates departmental stores under the ShoppersStop brand, and the Hypercity hypermarkets apart from several speciality format stores such as HomeStop, Crossword Book Store, Mothercare, Estee Lauder and Clinique. The company is likely to reduce its apparel prices for the private labels by 5 percent due to the softening cotton prices, he said but warned that the non-apparel prices are likely to go up by 10-15% due to the rupee fall.
"Next year, apparel demand should be better than what we are seeing this year. This year the price increased from 15-18 percent which hit the volumes. Volume revival will happen (from next year). The non-apparel will start showing the trend apparel was showing this year. All brands of watches, because of dollar rupee equation, are likely to go up by 10-15 percent," he said. Non-apparel segments contribute to 42% of ShoppersStop's revenue and the imported segment is above 30%, he added.
In the late afternoon, Shoppers Stop was trading at around Rs264.30 per share on the Bombay Stock Exchange, 0.32% down from the previous close.