Avtec's revenue grows 15 percent

Avtec Ltd has achieved revenue of Rs 570 crore in its second year of operation, which is a growth of 15 percent over the previous year. Its production reached a record annual level of 122,000 engines and transmissions.

The company, part of the Rs 5,000 crore GP-CK Birla group, makes automotive engines, transmissions and powertrain components to leading OEMs like Ashok Leyland, Bharat Earth Movers Ltd (BEML), Caterpillar, Eicher, Ford, General Motors, Hindustan Motors, Mahindra & Mahindra and Tata Motors among others.

Over the last year, Avtec has strengthened its internal operations for better capacity utilization and productivity leading to improved competitiveness in its goal to become the preferred precision engineered products supplier in India and export markets. The company has also significantly improved its quality and delivery performance to all its customers.

Avtec has commissioned its third integrated manufacturing unit in the Madras Export Processing Zone, Tambaram and the production and export of transmissions began in August 2006. Its exports doubled during the year to Rs 25 crore.

Sudhir Rao, CEO, Avtec said the company is getting significant amount of interest for exports to global customers who are keen to procure precision-engineered products from India. During the year, new orders were received from two major North American companies for exports to the United States in addition to an order from a major Indian automaker.