ENP Newswire -
Release date- 02052014 -
During the three month period, the company reported Net Profit of
The Company declared a final dividend of 30% i.e.,
The EBIDTA margin for the quarter stood at 10.6% as against 12.7 % reported in Q4FY13.
For the full year, the Company registered Net Sales of
Commenting on the company's performance during the year, Mr.
As an organisation we remain performance driven and customer centric. Through focused internal initiatives we have been able to achieve reduction in material costs from 70.1% to 68.7%. We as a Company continue to invest in technology and organisational development in order to deliver increased customer satisfaction and increased shareholder value through innovation and service.'
As part of its 2X2 Strategy, the company has been focusing on driving growth by expanding Product Play & strengthening Market Play and driving profitability through Operational Excellence and
FY13-14 witnessed new product launches across businesses catering to the evolving demands of the market and customers. With the market ready 265cc gasoline engine, the automotive engine business is now geared to partner with OEMs for quadricycles. New products were added to the power business with the inclusion of the sub 20 KVA genset range addressing the retail market as well as CPCB2 norm compliant range of engines and gensets.
Farm equipment business strengthened its presence in the irrigation segment with thrust on diesel engine and electrical pumpsets. The business is also strengthening its presence in the fast growing Light Agri Equipment space with a rapid product indigenization plan. The construction business launched the S-valve Concrete Pump and Boom Pump to augment its product offerings.
The company entered into partnership with
To further strengthen its geographical diversification, the company expanded its global footprint by setting up office in
With Service as a clear differentiator, the company further deepened its dealer network across businesses. Its Aftermarket business which ensures spares and service support for all Greaves products is working on initiatives to enhance responsiveness through optimal use of technology. The business is also looking at leveraging its vast distribution network for supporting non-Greaves products.
To enhance profitability, the company is focusing on operational excellence initiatives which saw improvement in material cost through Value Engineering and sourcing initiatives. Greaves also exited non-strategic assets and wound up 100% subsidiary in
The Company reported EPS of
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