Page 31 - Manufacturing

ELGI Sauer Compressors sets new manufacturing unit to produce compressors

ELGI Sauer Compressors Ltd, a joint venture between Elgi Equipments Ltd and Germany-based Sauer Compressors Group, has set up a manufacturing facility at an investment of about Rs 400 million. Spread across 50,000 sq ft at Kallapalayam near here, the facility would manufacture state-of-the-art high-pressure compressors, pressure-reducing stations and portable breathing air compressors for industrial, shipping, naval and off-shore markets, officials said. The manufacturing unit would house an engineering centre to provide support to the Sauer Compressors Group worldwide. "This is an important milestone in our journey towards market leadership and sustained business growth for ELGI Sauer Compressors in India," ELGI Sauer Compressors Ltd chief executive officer Satish Kini said in a company press release. "This factory with expanded manufacturing capacity will help us further consolidate the engineering, indigenisation and product support capabilities of both constituent entities and

Vietnam's economic hub Ho Chi Minh city to revive manufacturing sector

Vietnam's southern economic hub Ho Chi Minh city is seeking ways to revive its manufacturing sector, which currently accounts for only 18 per cent of the city's economy, state media reported on Friday

Chemplast Sanmar unit signs deal to manufacture advanced intermediate

Company estimates commercial supplies will start from the fourth quarter of 2023-24

CG Power and Industrial board approves manufacturing capacities expansion

The Board of CG Power and Industrial Solutions Ltd has given its consent to expand the manufacturing capacities of motors at its facilities, the company said on Tuesday. The manufacturing units located at Ahmednagar and Goa would be taken up for expansion at an outlay of Rs 230 crore and for transformers at its plants in Bhopal and Malanpur at an investment of Rs 126 crore, the company part of the diversified conglomerate Murugappa Group said. Meanwhile CG Power and Industrial Solutions Ltd said it has reported a consolidated profit after tax for the quarter ending March 31, 2023 at Rs 426.22 crore. The company had registered consolidated profit after tax at Rs 111.65 crore registered in same period of last year. For the year ending March 31, 2023 the consolidated PAT stood at Rs 962.97 crore as compared to Rs 913.07 crore registered in same period of last year. Total income on consolidated basis grew to Rs 1,917.05 crore for the year ending March 31, 2023 from Rs 1,492.77 crore .

China's non-manufacturing sector continues to maintain expansion in April

The index of new orders in the air transport industry rose for three consecutive months and remained above 70 per cent

Olectra Greentech net profit rises 52% to Rs 27 cr in March quarter

Electric bus manufacturer Olectra Greentech posted a 52 per cent rise in its consolidated net profit to Rs 27.01 crore in the March quarter, mainly on the back of higher revenues. "The consolidated net profit for Q4 FY23 (January to March 2023) was Rs 27.01 crore, as compared to a net profit of Rs 17.77 crore in Q4 FY22 (January to March 2022)," a company statement said on Friday. Its consolidated revenue for the quarter stood at Rs 375.91 crore, up 39 per cent year-on-year, from Rs 271.3 crore in same period a year ago. The consolidated net profit for FY23 was up 86 per cent Rs 65.59 crore as against Rs 35.35 crore in FY22. For FY23, the consolidated revenue increased 84 per cent to stand at Rs 1,090.76 crore as compared with Rs 593.26 crore in the year-ago period. "We are pleased to report strong growth in both our standalone and consolidated revenue and profitability for the year ended March 31, 2023," Olectra Greentech Chairman and Managing Director K V Pradeep said in the ...

JSW Steel to invest $145 mn to upgrade manufacturing operations in US

New projects are expected to be commissioned in FY26, says subsidiary of Indian steel giant

US manufacturing sector contracts for sixth straight month in April

The sector, which accounts for 11.3% of the economy, is being weighed down by the Federal Reserve's fastest interest rate hiking campaign since the 1980

Hero Electric denies receiving ministry letter for subsidy recovery

Rs 500 cr held up with government as unpaid subsidy, says company about electric two-wheeler manufacturing

Caterpillar's Q1 profit rises by 31% on resilient demand, higher prices

The company reported adjusted profit of $4.91 per share, beating Refinitiv analysts consensus of $3.78 per share

Launch 'PLI Plus' to focus on development to boost manufacturing: GTRI

The government should consider launching a 'PLI Plus' scheme with focus on development of new products, industrial designs and enhancing productivity with a view to boost domestic manufacturing, economic think tank GTRI said on Sunday. A production-linked incentives scheme (PLI) is under implementation by the government with a budgetary outlay of about Rs 2 lakh crore for 14 sectors such as white goods, mobile, telecommunication and auto components. The Global Trade Research Initiative (GTRI) report said that creating sustainable and competitive manufacturing is imperative to increase the share of manufacturing in GDP to 25 per cent by 2030, up from 15 per cent at present. "This will require shifting focus to one step back. From quick manufacturing outcomes to R&D, reverse engineering, and deep work. "This can be done under the Make in India framework with the launch of eight PLI Plus initiatives. These initiatives will strengthen the foundation of Indian manufacturing and aspire .

Apple's emerging India play, strategy notably different from Vietnam

In India, Apple has decided to focus on a few products but on a large scale, as they did in China, instead of assembling the entire range of its products in smaller volumes

Reliance Retail enters JV with Circle E Retail for toy manufacturing

Reliance Retail, the country's leading retailer which owns iconic British toy brand Hamleys and home-grown toy brand Rowan, has entered into a joint venture with a Haryana-based firm for local manufacturing to meet the growing demand. The company has entered into a joint venture with Sonipat, Haryana-based Circle E Retail to vertically integrate its toy business. "We also had a JV with Circle E retail for toy manufacturing for vertical integration for our toys retailing business," said Reliance Retail CFO Dinesh Taluja during an earnings call last week. The company is now working on a strategy of integrating processes from design to shelf, according to industry sources. Under this, Reliance Retail would have control over the entire aspects of the toy ecosystem, right from designing and manufacturing to retailing of the product. This will also help Reliance reduce dependency on third-party manufacturers in phases. This new venture will cater for both the toys brands - Hamleys and

Localisation plan: Indian firms to make key components for Apple

This will push the extent of domestic value addition in iPhones

China's share in India's import basket declines to 13.79% in FY23: Govt

China's share in India's import basket has declined to 13.79 per cent in 2022-23 from 15.43 per cent a year ago, with inbound shipments of major items like fertilisers and electronic goods coming from alternative markets, the Commerce Ministry said on Thursday. However, in absolute terms, the total imports from China increased to USD 98.51 billion during the financial year ended March against USD 94.57 billion in the previous fiscal. As per the latest trade data issued by the Commerce Ministry, India's overall imports increased by 17.38 per cent to USD 892.18 billion from USD 760.06 billion in FY 2021-22 (April-March). Meanwhile, India's exports to China fell to USD 15.32 billion in FY23 from USD 21.26 billion a year ago, showing a negative growth of nearly 28 per cent, the data showed. India's overall exports (Merchandise and Services combined) in FY 2022-23 (April-March) is estimated to exhibit a positive growth of 13.84 per cent to USD 770.18 billion from USD 676.53 billion in .

Campuses turn to core engineering, manufacturing amid IT hiring slump

Inviting more firms for placements, tap into stronger, better-performing sectors

Manufacturing PMI at 3-month high of 56.4 in March as input costs decline

Companies expect customers, new products, advertising to support sales for 12 months: S&P Global survey

Shortage of electronic parts may affect production in FY24: Maruti Suzuki

Firm has already posted a 5.6 per cent dip in March even as it says it took all possible measures to minimise the impact

DRDO transferring technology to encourage mass production in defence sector

The current DRDO policy for transfer of technology came into force on August 19, 2019

Govt okays electronic manufacturing cluster in Hubli; second in Karnataka

Govt eyes investments worth over Rs 1,500 cr, creation of over 18,000 jobs. Nine companies have already committed to making investments of Rs 340 crore with an employment potential of 2,500