Transport Corporation of India is looking at 20% growth in bottomline in this fiscal year
Supply chain and logistics solutions provider Transport Corporation of India (TCI) today said it is eyeing up to 20% growth in revenue this fiscal and is planning to invest Rs100 crore for expansion.
"Our business is growing, and looking at the present scenario we are expecting about 15%-20% growth in revenue in FY12," TCI joint managing director Vineet Agarwal told PTI on the sidelines of the India Retail Forum.
The company is also looking at 20% growth in bottomline in this fiscal year, he added. TCI's consolidated net profit for 2010-11 stood at Rs50.12 crore on a revenue of Rs1,851.26 crore. TCI also plans to invest Rs100 crore to fuel its expansion plans, which includes new trucks, ships, warehouses and hub centres, he said.
"We will use Rs20-Rs25 crore to acquire a ship from Denmark, Rs30-Rs45 crore to buy trucks and Rs30-Rs45 crore to set up hubs," Agarwal said.
The company will increase its warehousing capacity by half-a-million to 1 million sqft this fiscal. It currently has a warehousing facility of 9.5 million sqft, of which 6.5 million sq ft is owned by the firm, he added. TCI is also looking at entering a couple of more countries every year, he said.
Earlier, Agarwal had said, TCI will invest up to Rs300 crore to develop 20 integrated logistics parks, and commercial and residential properties in the next three to four years.
In the late afternoon, TCI was trading at around Rs84.65 per share on the Bombay Stock Exchange, 1.57% down from the previous close.
L&T Hydrocarbon has won an order worth Rs700 crore from the Petroleum Development Oman LLC for setting up a project to treat an average of 3mmscmd of gas
L&T Hydrocarbon has won a project order valued around Rs700 crore (around $150 million) from the Petroleum Development Oman LLC (PDO). The order is for setting up a green field project planned to treat an average of 3mmscmd of gas.
The concept for the Lekhwair Gas Field development project is a single train gas plant in the Lekhwair gas plant for exporting treated gas (CO2 removed and dehydrated gas) to the Government Gas Plant in Yibal and unsterilised condensate and water to the existing Lekhwair Production Station. Lekhwair is located approximately 110 km from the Yibal Government Gas Plant and its associated network.
The project includes main gas treatment plant consisting of gas desulfurisation and gas dehydration units with required utilities and supporting facilities as well as flow lines well pad piping, remote manifold station, liquid and gas export pipelines.
The order was bagged by L&T Hydrocarbon's Mid & Downstream Business segment against stiff competition from reputed international EPC bidders.
About a 100 protestors from various trade unions staged a demonstration outside Haryana Bhawan today, seeking the government's intervention for reversing the suspension and dismissal of workers by Maruti Suzuki. The trade bodies vowed to continue their protest till the management takes back all dismissed workers and revokes the suspension of others
New Delhi: Expressing solidarity with agitating Maruti Suzuki India (MSI) workers, about a 100 protesters from various trade unions staged a demonstration outside Haryana Bhawan today, seeking the government's intervention for reversing the suspension and dismissal of workers by MSI, reports PTI.
The development came after talks brokered by the Haryana government between the management and workers at MSI's Manesar plant failed to end the 25-day-long standoff.
Protesters from the Mazdoor Ekta Kendra, Mazdoor Ekta Committee, Centre for Struggling Workers Trade Union, Krantikari Yuva Sangathan, All-India Federation of Trade Unions and Inqualabi Mazdoor Kendra, among other bodies, condemned the dismissal and suspension of 62 workers by MSI so far.
"It is illegal to force the workers to sign a bond before entering the factory. It is the workers' democratic right to form a union and the management should recognise it as per the Indian laws," said Krantikari Yuva Sangathan convener Alok Kumar.
The trade bodies will continue to protest till the management takes back all dismissed workers and revokes the suspension of others, he said.
The deadlock has been continuing since 29th August, when the management prevented workers from entering the factory premises unless they signed a 'good conduct' bond, following alleged sabotage and deliberate compromise on the quality of cars being produced.
Meanwhile, the protesters have submitted a memorandum to Haryana chief minister Bhupinder Singh Hooda through the state resident commissioner, seeking his immediate intervention for restoring workers' rights and rescinding the decision for suspension and dismissal of workers by MSI.
As per information, MSI has dismissed 33 workers and suspended 29 so far.
Meanwhile, the New Trade Union Initiative (NTUI) has decided to hold protest demonstrations in front of Maruti Suzuki establishments in 12 locations across the country, including Delhi, Kolkata, Chennai, Mumbai, Nagpur, Assam, Chandigarh and Kochi.