Minda Industries halves capex on sluggish growth forecast
Minda Industries halves capex on sluggish growth forecast
New Delhi: Auto equipment maker Minda Industries has halved its FY12 capex to ₹ 40 crore and expects sales and net profit to grow 15% and 10%, respectively, this fiscal year, its chairman and managing director said on Tuesday.
“The growth is not as good as it used to be. It’s better to wait and watch," Nirmal K. Minda told reporters.
The company had planned a capex of ₹ 80 crore in FY12 but has deferred expansion worth ₹ 40 crore by 6-8 months, he said.
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