Anand group looks to double output | autos | Hindustan Times
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Anand group looks to double output

Automotive component major Anand Group on Thursday said it has set a target to achieve a turnover of Rs 9,000 crore by 2014, a more than two-fold from its current turnover of Rs 4,200 crore.

autos Updated: Nov 18, 2010 23:26 IST
HT Correspondent

Automotive component major Anand Group on Thursday said it has set a target to achieve a turnover of Rs 9,000 crore by 2014, a more than two-fold from its current turnover of Rs 4,200 crore. The growth will be achieved with a capital expenditure of Rs 1,400 crore spread across the firm's 19 companies. While this target will be achieved entirely through organic growth, the top line may witness an increment of another Rs 1,000-2,000 crore through inorganic means, an area where the group has been inactive so far.

"Demand for automobiles in the domestic market is very high and for the medium term we expect the industry to grow by 16%," said Deepak Chopra, CEO, Anand Group.