Hopes to post year-on-year growth of 30-35 p.c.; company totally debt-free
CHENNAI: AMCO Batteries, an Amalgamation Group company, plans to double its turnover in the next two to three years.
Announcing this at a function got up to celebrate the Golden Jubilee of the company, Jayshree Venkatraman, Vice-President, said the company currently had a turnover of close to Rs. 100 crore. Ms. Jayshree said AMCO was initially producing less than a lakh batteries a year. Today, it was churning out 1.5 lakh batteries a month, she added. "We expect to grow further in the next five years, covering a wider range of batteries," she said. She expected AMCO to post a year-on-year growth of 30-35 per cent.
Ms. Jayshree said AMCO planned to "continue to drive technology that improves the performance and life of the lead acid battery and bring back the glory in the industrial batteries field as well."
Dwelling on the past, Ms. Jayshree pointed out how S. Anantharamakrishnan bought the company (known as Accumulator Manufacturing Company Private Ltd. and owned by a German, Becker Bain) in 1955 for Rs. 5 lakh and infused an additional Rs. 10 lakh. The equity capital today stood at Rs. 3.30 crore. She said AMCO saw technology upgradation twice once in1964 through a tie-up with Gould Inc. of the U.S., and another in 1984 through a collaboration with Yuasa Corporation of Japan. Its list of OEM clients both in two and four-wheeler segments testified AMCO's quality standards, she said.
A. Sivasailam, Chairman of the Amalgamations Group, said technical assistance from Gould Inc helped the company to increase its turnover while collaboration with Yuasa Corporation saw Amco becoming the first battery company to supply batteries to newer generation vehicles of Hero Honda Motors, TVS Motor, Yamaha Motors India Pvt Ltd, Kinetic Motors and Bajaj Auto. When the collaboration with Yuasa ended in 2004, AMCO had emerged with a greater strength.
C. Rajagopalan, director, said the company was now totally debt-free and liability-free. He also pointed to the recent conversion of the nickel cadmium battery manufacturing activity into a joint venture with SAFT of France. "This is expected to perform well with high-end technology and sophisticated products like batteries for missiles, torpedoes, aircraft and submarines," he said.