Lalbaba Engineering announces JV with German giant, eyes Rs 1k cr revenue
Times of India | 20 December 2024
12 Kolkata: Lalbaba Engineering hopes to reach the Rs 1000-crore revenue mark this fiscal. To mark its 60th anniversary, the group has also entered into a 50-50 international joint venture in the seamless tubes industry with the 100-year-old German tube manufacturing giant Poppe+Potthoff.
Company MD Kishan Dhanuka pointed out that the JV would be for fuel injection tubes for automobile industry. "Our German partner is one of the global leaders in this. The plant would be in Haryana," he added. The plant would be operational by April 2025, the MD said, and the total investment would be Rs 200 crore. It would have a capacity of 15,000 tonnes.
Lalbaba director Nikunj Dhanuka said this fiscal would be a landmark for the group as it would reach a four-digit revenue mark. The group now has a turnover of Rs 750 crore. "We are going through a restructuring, through which all the group entities are being merged with Lal Baba Seamless Tubes and would be renamed as Lalbaba Engineering," he added.
The group now has four plants in Bengal at Belur, Haldia, Uluberia and Ghusuri. "The Haldia plant for seamless tubes is the biggest among Bengal plants," said Amit Dhanuka, group director. He added that it has plans to enter overseas markets as well.
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