TVSE earmarks Rs 20 cr for expansion

TVS Electronics (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 launch 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).

The company 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
9% 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). Gopal said, "We tided over the zero duty
regime successfully without any loss, which enabled us to reduce material costs
by 3.5% of our revenue."

He further 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 an
increase of Rs two crore against Rs 1.78 crore in the corresponding period last
year.

CYBERMEDIA NEWS