Pitti Laminations (PLL), the electrical laminations maker is ready to complete its Rs 31 crore expansion of its existing manufacturing facilities near Hyderabad in the first quarter of next fiscal. After the expansion the capacity of the plant will increase from the current level of 25,000 tonnes per annum to 35,000 tonnes in line with the rise in demand for electrical laminations used for making all types of motors for a wide range of applications, including alternators, DC machines and Railway lighting alternators.
In the organized sector domestic consumption of laminators is estimated at 300,000 TPA, with about 200,000 tonnes coming from about four to five players and the remaining from the unorganized sector. The company is focusing more on value-added assembly products used for special purpose equipment needed by the railways and aviation sector.
The company is also acquiring foundry unit in Andhra Pradesh, which will be hived off into a subsidiary. It is close to finalizing the deal. The foundry subsidiary will retain a minority stake of the original promoters.
PLL has reported net profit for the December 31 quarter at Rs 6.11 crore against Rs 2.61 crore, while revenues rose to Rs 103.23 crore from Rs 69.92 crore in the year-ago quarter.
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