Tube Investments (TI), a division of the Rs 16,000-crore Murugappa Group, is targeting a 50 per cent jump in sales of its high-margin premium and foreign bicycle brands this fiscal. The company is expecting a 7 per cent contribution to its revenues from this segment in FY 11 and it is expected to increase to double-digits at 12 per cent in FY 12. The premium range cycles start from Rs 6,000 and go up to Rs 1 lakh per unit. TI Cycles recently launched its very own carbon frame cycle and is investing Rs 10 crore on the product.
Apart from its own brands like the Act and the carbon frame Montra, TI also sells established international brands like Schwinn, GT, Canondale and Ducati which are currently witnessing a growth of 100 per cent per year. At present, 65 per cent of the company's total revenue comes from the non-roadster segment such as the kids, SLRs and MTB segments with the balance comprising the roadster segment. Cities witnessing maximum growth in the premium segment currently are Pune, Chandigarh, Bangalore, Mysore, Coimbatore and Vijayawada, where the company is ramping-up its distribution presence.crackcrack
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