TVSE earmarks Rs 20 cr for expansion

NEW DELHI: TVS Electronics Ltd (TVSE), manufacturer of computer peripherals, plans to invest around Rs 20 crore on printers, set top boxes and power supplies.

The company is also considering setting up an assembling plant in Himachal Pradesh. "The decision to start the Himachal Pradesh unit would be finalized soon," informed TVSE director Gopal Srinivasan.

He further added that TVSE would also be launching new model products in the four key segments such as printers, power solutions, Point of Sales (for retailers) and set-top boxes (for cable and satellite customers).

TVSE has reported a net profit of Rs 4.28 crore on a turnover of Rs 317.40 crore for the 15 months ended March 31, 2005. The board has also declared nine percent dividend for the same period. In JFM 2005, the net profit dropped to Rs 73 lakh (Rs 1.34 crore) on a turnover of Rs 61.12 crore (Rs 58.48 crore).

Speaking to the media, Srinivasan said, "We tided over the zero duty regime successfully without any loss, which enabled us to reduce material costs by 3.5 percent of our revenue."

Further, Srinivasan informed that the business group delivered a turnover of Rs 49.32 crore during the last quarter ended March 31, 2005 compared to the Rs 46.77 crore in the corresponding period last year. The operating profit has shown a significant increase at Rs two crore against Rs 1.78 crore in the corresponding period last year.