Minda Group eyes four-fold jump in revenue to Rs 4,000 cr by FY12

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New Delhi, Sep 2 (UNI) Country's leading auto component maker Ashok Minda Group today said it targets a four-fold increase in its revenue to Rs 4,000 crore by 2011-12.

''We aim to increase our revenue to Rs 1,600 crore in the current fiscal from Rs 1,000 crore in previous financial year and further increase it to Rs 4,000 crore by 2011-12,'' Group Chairman Ashok Minda told reporters here.

The share of international business in the total revenue stood at 25 per cent in previous fiscal. ''This fiscal it would be increased to 50 per cent or Rs 800 crore,'' he added.

The Noida-based company aims to become a global player in the auto component business and is looking to grow both organic and inorganic way.

The company also plans to list one of its holding company in the stock exchange in the next fiscal.

Mr Minda also announced the completion of acquisition of German-based automobile interior plastic maker Schenk Plastic Solutions.

This acquisition is Ashok Minda Group's second European acquisition, with last year's purchase of another plastic interior plant at Pirna in Germany.

The Minda Group, which supplies security systems, driver information systems and plastic injection moulded interiors to many domestic as well as global OEMs, currently has 21 plants in India and overseas countries like Germany, Indonesia and Vietnam.


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