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Press Release |
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TVS E posts growth in profits and Electronic Manufacturing Services |
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PBT grows by 22%. EMS by 48.9% over last year
and continues growth - grows 125% sequential
quarter.
TVS Electronics today announced its results for
the year ending 2002. The PBT for the year 2002
showed an impressive growth on a nearly flat
turnover. The PBT was Rs.2.23 Crores against
Rs1.83 Crores in the year 2001, while the
turnover in the year 2002 was Rs.210 Crores
against Rs.216 Crores in 2001.This was after the
company has made a provision on account of the
closure of its Lexmark non-impact printer
business. Turnover for the quarter at Rs 56
Crores is a growth of 5% over consecutive
quarter. The PBT for Q402 at Rs 56 Lakhs is up
24% over Q3 02. The eServices Business group
with a turnover of Rs 16.44 Cr registered a
nearly 48% growth over consecutive quarter. The
IT Appliances had a nearly flat market, but the
printers business grew 20% by volume over Q3 02
The market share for TVS Electronics Dot Matrix
Printers grows to 35%* in Q4 against 27%* in Q3.
* Estimates as per IDC
TVS Electronics' EMS business continues its
steady growth. Exports in Q4 grew smartly at 82%
over last quarter (Rs.11.88 Crores against
Rs.6.50 Crores). Exports for year 2002 grew 16%
to Rs.34 Crores against Rs.29 Crores in 2001.
This business, with its Fortune 500 client list
is poised for manifold growth. The company's
commitment to improving its processes and
efficiencies through the 6-Sigma process has
helped in signing on Global majors as customers.
An investment of close to One Crore rupees has
been made in training its executives in this
process. This initiative is also expected to
improve the performance of all its business
groups in the coming months.
In the IT Appliances Business Group, Printers
sales grew by 13% in value terms and by 20% in
volume over the last quarter (Q3 02'). TVS
Electronics retains market leadership despite a
declining market.
Announcing the results, Mr. Gopal Srinivasan,
Director, TVS Electronics said, "eAppliances
Business group has transformed itself from an IT
Appliances to an IT Products and Solutions
business, with its foray into transaction
solutions for 'Heart Of India' applications. The
eServices business group has evolved into a
healthy Business Process Outsourcing unit in the
Electronics Manufacturing Services area. The
company aims to increase its profitability
through products and services and shall scale-up
through Global BPO."
"The year 2002 has been a year of remarkable
achievement for eServices Business Group, the
Business grew by more than 100% over the
sequential quarter. eServices is recognized as a
Global Electronics Manufacturing Services
provider. Tremendous efforts have gone behind
institutionalizing the 'Six Sigma DNA'. Both our
plants have received QS9000 certification.
Senior level staffing has been completed for
creating an organization to facilitate scaling
the enterprise. We look forward to a bright 2003
through Target, Account, Acquisition Program"
added Mr, A Karunakaran, President eServices.
"The year 2002 has been a significant year for
TVS Electronics. During this year the Company
successfully established two products completely
designed indigenously by its talented R&D team.
TVS Sprint, a retail automation product,
bringing the power of IT to the common retail
trader, has established itself well in the
grocery vertical in several towns of Tamil Nadu.
Further growth in new areas and new verticals is
planned in year 2003. TVS Proton "The World's
Quickest Bill Printer" was launched in North and
South India towards the later part of the year.
The product features have been well received.
TVS Electronics expects good growth from this
product in the coming months." added Mr.
Narendran, GM Marketing eAppliances.
During this year TVS Electronics also launched
high-speed Printers, Multimedia Keyboard and
Rackmounted UPS. With its Tumkur plant also
getting QS 9000 certification, all its
manufacturing units are now World-Class
manufacturing units with QS 9000 compliance- a
first for IT manufacturing units in India.
TVS Electronics' new channels of sale, including
the appointment of another National Distributor,
have helped the growth of its Printers, Power
and Peripheral businesses. Today TVS Electronics
also has a strong distribution network for its
products with nearly 1750 Authorized Dealer
Partners and 75 Re-Distribution Partners across
311 cities and towns in India. TVS Electronics
has a widespread Service Support Network with
nearly 300 Authorized Service Partners and 14
Call Centers spread across the country. |
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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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