Friday, February 20, 2009

M&M foresees upto 15% growth

M&M foresees upto 15% growth in spare parts biz this fiscal

Mahindra & Mahindra (M&M) expects its spare parts division to clock a growth of 10-15% this fiscal, although it sees the business getting into a difficult environment in the next three to four months, said M&M CEO (spares business) Rajendra Bhurat.

He said that in the domestic market, M&M`s spare parts business clocked a turnover of Rs 5.50 billion last fiscal.

He also said that as of now they are doing their business normally but it will start getting affected in the next three to four months.

The liquidity crunch has affected distributors and dealers and their ability to do business, he added.

For the next fiscal, Bhurat said the company would be looking at a growth of 10-12% despite the expected tough environment due to new products launches planned by M&M.

Source : (2/20/2009

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