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Sundaram Brake Linings plans unit in SEZ

Corporate Reporter

This will help augment company's export turnover

CHENNAI: Sundaram Brake Linings is planning to establish a unit in a Special Economic Zone (SEZ) to avail itself of the export concessions extended by the Government. The establishment of this unit will start towards the third quarter of the financial year and the commercial operations are expected from the second quarter of 2006-07.

This was disclosed by K. Mahesh, Chairman and Managing Director of the company at the annual general meeting held here on Thursday. This step would help to augment company's export turnover and also increase the retained profit with tax-free export income from that unit, Mr. Mahesh said.

The CMD expressed concern over the rise in petroleum and steel prices and the uncertainty regarding the monsoon.However the continued focus of governments on improvement of Highways was expected to benefit the auto component industry in the later part of 2006.

The company planned to reduce power cost by using gas-based power plant and possibly install windmills.

In the first quarter of the current financial year, the company reported overall sales of Rs. 35.66 crore against Rs. 32.22 crore and the net profit was Rs. 2.50 crore against Rs. 2.58 crore in the year-ago period.

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