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Telco sets Indica sales target at 90,000 for FY2001 - Views on News from Equitymaster
 
 
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  • May 4, 2000

    Telco sets Indica sales target at 90,000 for FY2001

    As per a newspaper article, Telco's Indica clocked in a sales figure of 54,480 cars in FY2000. In its first year of operations the Indica has garnered a 8.8% market share of the total passenger car market and 21% of the market share in the small car passenger car category.

    TELCO, is India's largest commercial vehicle manufacturer. It dominates the MCV/HCV segment with a market share of 66%, the LCV segment with a 67% market share, and utility segment with 26% market share. It reported a turnover of Rs 64 bn in FY99. Its plants are located at Pune, Jamshedpur and Lucknow.

    For FY2001 the company has set a target of 85,000-90,000 units of Indica. Of this they expect 20% to come from the petrol models and the rest from the popular diesel version of the Indica. Telco has recently announced the launch of its new petrol version with multi-point injection fuel.

    In the month of April 2000, Indica sales reported were 5,143 cars a growth of 207% YoY, hence the target set by the company seems to be achievable. This will also be fuelled by the launch of its new petrol version recently.

    As per an interview conducted recently by equitymaster.com, Mr. Kadle, Senior Vice President - Finance, Telco has indicated that the break-even point of the Indica project is around 1,00,000 Read the interview.Hence it seems quite likely that the Indica would break even by the end of the current fiscal. He also mentioned that as of now the company has no plans of hiving of the passenger car business unit into a separate company.

    Market View:
    Analysts are positive on TELCO, however most of them have rated it as a long term "BUY", mainly because the car division has been a drag on the company's profits.

     

     

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