I believe they should stick to their current business and venture only in related business areas.If at all they want to start something new then the group is cash rich enough to start a separate company. Such foray into un related sector in the comapny implies that management does not have clarity regarding the future. Acquisition led growth,foray into unrelated sectors are signals of mediocre future prospects.
Tube Investments is planning to build a new precision steel tube manufacturing facility in Western India.
This facility will help them expand their capabilities and better serve their customers in different regions. The new facility is intended to produce various types of steel tube products, but the exact manufacturing capacity is not determined yet.
The estimated cost of this project is Rs. 211 Crores, and they plan to fund it mainly through their own earnings (internal accrual).
They anticipate completing this project during the fiscal year 2024-25.
2 Likes
What is source of Rs 551cr other income in this quarter. It was shown as income from discontinued business but not given details of which business has been discontinued. If anyone can give information regarding this, please let me know.
CG Power one of the leading companies in Industrials have seen good growth in Order book for the Financial Year 2023-24. The same has been discussed below:
The unexecuted order book for Q4 standalone as of 31st March 2024, was 45% higher year-on-year at Rs. 6276 crores against Rs. 4319 crores as of March 31, 2023.
Segment wise bifurcation of order book for FY23:
For Industrial Systems, the unexecuted order book was 25% higher, year-on-year at Rs. 2,544 crores vas against Rs. 2,040 crores as of March 31st, 2023.
For Power Systems, The Order book was 64% higher year-on-year at Rs. 3,731 crores as against Rs. 2,279 crores as of March 31st, 2023.
This shows a great potential of growth in the upcoming years. However, the execution of these orders will take around 2-3 years. The Company has also seen a lot of order inflow form the railways for the 4Q of FY23.
The CEO of the Company has quoted that it expects a strong growth for the year 2024, with topline growth being 40% for the railways.