Duke Arnics merges with ORG Enterprises' arm

ORG Enterprises, the Rs 1,000-crore power distribution equipment major and the holding company of Havell's India Limited, has announced that it has merged the operations of Hyderabad-based Duke Arnics with one of its subsidiaries, TTL Limited. The new entity will also be called TTL Limited.

Addressing a press conference, Anil Gupta, director of Havell's India, said, "After due deliberation it was decided to merge the businesses of Duke Arnics and TTL Limited. This has been done in view of the fact that both the companies share manufacturing and marketing synergies."

The size of TTL Limited, which was Rs 150 crore earlier, will go up to Rs 200 crore after the merger, he added.

Gupta said that Duke Arnics will continue to manufacture and do developmental work on new technologies for electronic meters.

He, however, said that the reporting and management of the merged entity will be shifted to Shaibabad in Uttar Pradesh.

ORG Enterprises expects its flagship company "� Havell's India Limited "� to close the current financial year with a turnover of Rs 700 crore and expects it to cross the Rs 1,000-crore mark by March 2006.

The group, in the last 30 months, has invested Rs 100 crore in expanding and modernising its facilities. "We have opened one new facility in Himachal Pradesh and will be commissioning one more in Haridwar, Uttaranchal, in April this year," Gupta said.

The company, which exports 40 per cent of its production to around 45 countries, expects the division's turnover to touch Rs 100 crore this fiscal as compared to Rs 30 crore last fiscal.

Havell's, which entered the consumer electricals market last year with the launch of fans and lighting equipment, expects to capture a market share of around 10 per cent in the next three years.

"In the last 12 months the sales have touched Rs 150 crore and next year we expect it to touch Rs 350 crore," Gupta said.

Merger equations

• New entity to be called TTL Limited
• Duke Arnics will continue to manufacture and do developmental work on new technologies for electronic meters
• Reporting & management of the merged entity will be shifted to Shaibabad in Uttar Pradesh