Engineering and construction major Larsen and Toubro (L&T) is expecting a 10% growth in sales from its electrical and automation business in the next financial year, a top executive has said.
L&T's electrical and automation (E&A) division is engaged in making switchgear products, switchboards, metering systems, petrol dispensing pumps and medical equipment.
Besides, it offers products and systems solutions for automation and UPS-related projects. The systems solutions cover a host of industry verticals like cement, metals, paper, oil & gas, water, power and food processing.
"We expect the electrical and automation business to grow by over 10% in FY13 as we see improvement in infrastructure and power sectors among others," L&T Senior Vice-President and Head of Electrical and Automation Business S C Bhargava told PTI.
In FY'11, E&A division's sales stood at Rs 3,850 crore and according to sources it is expected to touch Rs 4,500 crore in the current fiscal.
L&T launched around 10 products (including variants) at 'Elecrama-2012', an exhibition organised here from January 18-22 by IEEMA, the apex body of Indian electrical equipment industry.
"We have set a target to introduce at least seven to eight products (including variants) every year. We earmark a capex of Rs 100-150 crore every year to introduce new products as well as expanding manufacturing capacities," Bhargava said.
L&T has operations at different locations in India - two in Mumbai and one each in Ahmednagar, Mysore, Faridabad and Coimbatore.
