Improved margins for SAIL
The persistent strategic approach helped SAIL to strengthen the EBIDTA to Rs.5184 crore in 2017-18, a substantial increase over 2016-17, said Saraswati Prasad, CMD, SAIL.
SAIL achieved its highest ever production of hot metal of 15.983 MT, crude steel of 15.021 MT and saleable steel of 14.071 MT. It also clocked an all-time best performance of continuous-cast (CC) steel production of 12.80 MT with a growth of 9 per cent over previous best of 11.77 MT, achieved in FY17 said Prasad.
Prasad felt that growth in domestic steel consumption was strongly backed by the healthy development of India’s infrastructure sector. It is further supported by 7.8 per cent growth in domestic finished steel consumption during the FY18, as a result of growing activities of steel-intensive sectors.
Schwing Stetter India to invest Rs 350 crore
Chennai-headquartered Schwing Stetter India, the Indian subsidiary of Germany’s Schwing GmbH ready-mix concrete equipment maker, will be investing Rs.350 crore in ramping up its capacity with a new unit at SIPCOT Industrial Park, Cheyyar.
New 110cc bike from TVS Motors
In a glittering function, TVS Motors launched their TVS Radeon, its new 110 CC motorcycle, at Chennai.
With a strong R&D team, the company has been introducing new products in a continuous stream. The DuraLife 110 cc engine is a product of in-house development with an optimum combination of power and fuel economy. The company claims a mileage of 69.3 kmpl. TVS Motors offers this product with a five-year warranty.
Four decades ago the founder of TVS Motors, T S Srinivasan, launched the TVS 50 moped that received large custom and continues to this day as a sturdy workhorse crisscrossing, especially rural India.
After the bold decision to break with Suzuki Motorcycles, TVS Motors has been thriving on a rich R&D focus. In this effort, it has not only survived but has been recording impressive growth with several of its products enjoying high consumer satisfaction and growing market, both national and foreign.
Such efforts obviously are now focused on electric vehicles. One can look forward to the launch of the electric two-wheelers from TVS Motors shortly.
The second largest two-wheeler exporter of India (next to Bajaj) has been exporting its two and three-wheelers across 60 countries.
TVS Motor’s foray into the Mexican market through a partnership with Torino Motors, a subsidiary of Groupo Autofin, which specializes in automobile and retail finance, is another landmark event for this auto major. – FOC
