Ifb Industry News Articles

Out of BIFR, IFB to invest Rs 62 cr in capacity expansion Jayanta Mallick Kolkata, July 30 IFB Industries is investing in modernising and expanding capacities in its gondola component and wash mould building blocks. Mr Bikramjit Nag, Joint Executive Chairman and Managing Director of the club, t mature line of work Line that IFB was investing Rs 52 crore in its washing machine plant in Goa. It expects to complete the expansion-cum-modernisation of the washing machine unit by October. It is also investing Rs 10 crore in its auto component plants here and in Bangalore. The tool room is cosmos modernised to international standards with new fine blanking presses, besides upgrading the old ones, he said. These would increase capacities and add to revenue growth by the end of 2010-11, Mr Nag said. The company, which is out of the ambit of the Board for industrial and Financial Reconstruction and now making profits, has plans for additional enthronization in the next fiscal. We are likely to invest Rs 17 crore on the Goa plant and Rs 8 crore for the Kolkata and Bangalore plants, he added. The company has firm to fund expansion and modernisation projects largely through internal resources.

The debt-free company has been conserving its resources for the past two years by not paying dividend to the ordinary shareholders. The current paid-up capital, after the promoters brought in fresh funds through equity, is Rs 35.52 crore and the reserves stand at Rs 116.52 crore. It made a consolidated net profit of Rs 53.76 crore during 2009-10. In the previous fiscal, its net profit was at Rs 315.08 crore, primarily because of delight waiver on settlement of previous borrowings. Rural reach The company is also focussing on extending its marketing reach in rural areas for white goods. In the auto component segment, it is pitch up to meet the increasing demand amid competitive challenges. It manufactures near 10 auto components, both for two-wheelers and... If you want to get a full essay, order it on our website: Ordercustompaper.com

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