Page 12 - Capital Expenditure

Wheels India reports Q4 net profit of Rs 24.8 cr, earmarks Rs 200 cr capex

Automobile wheel manufacturer Wheels India Ltd has reported a net profit of Rs 24.8 crore during the quarter ending March 31, 2023, the company said on Friday. During the corresponding quarter of the previous year, it had registered a net profit of Rs 27.9 crore. For the financial year ending March 31, 2023 the company registered net profit of Rs 65.2 crore as against Rs 79.8 crore in the previous year. The board of Wheels India, which met on Thursday, has recommended a final dividend of Rs 3.97 per share. Commenting on the company's financial performance, its MD Srivats Ram said, "We registered significant growth in the air suspension division during FY2023. The CV and Earth Mover Wheel Business also did well in FY23." "Machining of large castings which was commissioned in September 2022 was ramped up towards the end of FY2023," he said. Speaking of the company's outlook, Ram said it has earmarked Rs 200 crore as capital expenditure this year towards ramping up production. The

Gail to borrow up to Rs 7,000 cr to fund Rs 10,000 cr capex plan in FY24

Gail India plans to borrow up to Rs 7,000 crore in FY24 to fund the Rs 10,000 crore capital expenditure plan for this fiscal, a top company official said on Friday. The state-owned company's chairman and managing director SK Gupta said, "For this fiscal, we plan to spend Rs 10,000 crore". He added that even though FY23 was not good for internal resource generation, it invested Rs 9,100 crore, which was 15 per cent higher than the budgeted levels. He exuded confidence that FY24 will be robust on the internal resource generation front, and there will not be any problem with continuing with the capex. "We plan to borrow something around Rs 5-7,000 crore," he added. The company's director of finance, RK Jain, said that given the present scenario in global finance, the borrowing will be done domestically and not in global markets. Keeping in line with the Sebi mandate, a fourth of the borrowings will be in bonds while the rest will be bank borrowings, he said. At present, the company

Capex by large state-run firms jump 121% to Rs 53,000 crore in April

Expenditure cycle of NHAI, petroleum CPSEs off to a strong start

New phase of capex cycle to start soon, say analysts. Top stocks to bet on

Helped by a property upcycle, analysts at Jefferies believe various government initiatives are likely to drive capex going ahead

States used Rs 82K cr of Rs 1 trillion capex support allotted in FY23

The Centre has provided 50-year, interest-free loans to states to augment their capital expenditure requirements in the past three Budgets

Under construction

Project delays must be avoided

Delphi-TVS Technologies JV to take up capex worth 450 cr at Chennai plant

Delphi-TVS Technologies, a joint venture between diversified conglomerate TVS Group and auto-component major BorgWarner, has lined up investments worth about Rs 450 crore over the next three years to take up capital expansion plan at its manufacturing facility here. Delphi-TVS Technologies, which commenced production of common rail system in 2009 has reached milestone production of over three million common rail systems at its manufacturing facility in Oragadam, about 45 kms from here. "We continue to expand the production capacity in common rail systems at the plant. We expect to invest about Rs 150 crore every year over the next two-three years..." Delphi Technologies President A Viswanathan told reporters. The company caters to all sections of the diesel engine market including passenger cars, commercial vehicles, tractors, construction equipment and industrial engines. With the proposed investment plans, the company would be scaling up the production to a million units from the

Reserve Bank likely to help states to analyse, frame their capex numbers

As of now, the states are handicapped because there is no format they can borrow from the centre to guide them on tracking their capex except the financial support

CMS Info Systems aims 3 times revenue of Rs 5,000-crore by FY30

It is looking to start new business lines like collection and recover services

New projects hit Rs 12.3 trillion in March quarter on large orders

Analysts say slowing growth globally may limit future investments

Capex cannot be driven by public investment, says industry body Assocham

Industry body Assocham on Monday said capital expenditure cannot be driven largely by public investment and the private sector must participate to increase investments in India's economy. Prime Minister Narendra Modi last month urged India Inc to increase investment in tandem with the government's decision to raise capital expenditure (capex) and take advantage of the opportunities unveiled in the Union Budget 2023-24. The chamber's newly appointed President Ajay Singh said he foresees a "significant rise in private investment" in the coming 2-3 years, driven by the Centre's capex push. "It cannot be that expenditure in the economy is largely public expenditure. The private sector has to participate and with the environment that is being created today, with the infrastructure spend that the government is doing, opportunities available to companies both in India and overseas. I think you will see an uptick in private investment in the next 2-3 years," Singh said addressing a press ..

India Inc planning to increase capex, hire more in FY24: BS Poll

Most top executives appear to be upbeat about sales and profit

Guns vs Butter-I: House panel welcomes larger funds allocation

The first of a five-part series analyses the military's capex demand versus allocation. The recent report of the parliamentary standing committee on defence provides the backdrop

Capital expenditure of states shows improvement as year comes to a close

The biggest improvement year-on-year (YoY) has been by Uttar Pradesh, Maharashtra, Gujarat, and Karnataka

States given capital expenditure targets tied to interest-free loans

If target missed, part of loans to be deducted in 2024-25

Social capital and Budgets: The picture is varied, not just black or white

India's ranking on the UN's HDI has remained more or less unchanged, suggesting the country is doing no better or worse than others, though most are growing much slower than India, writes T N Ninan

Adani Transmission to announce debt refinancing plans in few weeks: Report

The company has no plans to raise additional debt for capital expenditure, which it plans to cover with operating cash inflows, the executives said, according to the source

Adani Enterprises to freeze capital expenditure in new road projects

It will focus instead on completing existing ones, before committing fresh investments

Hindenburg effect: Adani Group cuts revenue growth target, capex amid rout

Holding back on investments for even as little as three months could save the conglomerate as much as $3 bn- funds that can be deployed to pay down debt or boost the cash pile, said another person

Four economic trends that will impact India

The Budget reflects the shift globally in government capital expenditure, inflation, fiscal deficit and globalisation