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Press Release |
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TVS-E declares audited results for the year ended FY 06 |
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Chennai, 29th June 2006: TVS Electronics
announced the audited annual results for the
financial year ended 31st March 2006. The total
income has been Rs.265.73 Crs for FY ’06 as
against Rs.317.40 Crs for the 15 month period
with respect to previous year FY’05. The profit
after tax was Rs.3.17 Cr for the financial year
2005-06 as against Rs.4.01 Cr for the previous
financial year FY 05.
The board has recommended a dividend of 7.5% for
the year ended 31st March 2006.
The company generated net cash from operations
of Rs. 13.67 Crs and utilized cash for further
capital expenditure program of over Rs.5 Cr and
also used surplus cash for reducing its
borrowings by Rs.6.7 Crs during the year.
During the year, the company commenced
operations in Himachal Pradesh. This helped the
company not only to remain competitive in terms
of pricing but also improved its nearness to the
market. The Total Cost Management initiatives of
the company have helped the company improve cost
productivity.
The company continues to be a dominant player in
the Dot Matrix Printer segment with a
significant market share of 39%. The company has
been declared as No.2 in DMP, for the Asia
Pacific region by Gartner in APAC Dot Matrix
market and one of the fastest growing companies
in this region.
The company enjoys a market share of 55% in
mechanical key board business.
In the Contract Customer Support business, the
company has added a few top clients in IT and
Telecom during the year.
Commenting on the company’s performance Mr.
Gopal Srinivasan, Director, TVS Electronics
Limited said, “With growth focused on DMP and
Contract Customer Support Business the
organisation is poised for leveraging the
opportunities in the ICT space during the
current year.”
During the year, the company transferred one of
its properties at a prime location in Chennai to
its wholly owned subsidiary at market rates as
part of its proposal to leverage on the emerging
market opportunities in real estate.
The Subsidiary would take up the work of
development of the property for the company’s
own use and also develop additional space for
commercial use for leveraging on the potential
for commercial spaces realizing value to TVS-E.
This would add value to the shareholders of
TVS-E. The project is expected to commence
during the current financial year. |
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About TVS Electronics: |
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TVS Electronics Limited, a part of the 90-year-old
TVS Group is one the largest manufacturer of Computer
Peripherals in the country. The range of offerings
includes Products - Dot Matrix printers, Keyboards,
Printing Supplies, Transaction Solutions, and Point
of Sale Products (PoS).
TVS-E has a large distribution and service network,
which reaches over 450 towns across the country
with two National Distributors, more than 200 Regional
Distributors and over 3,000 Authorized Dealer Partners.
The Company has manufacturing facilities in Tumkur,
Chennai and Himachal Pradesh |
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