| Falcon tyres, a Ruia Group company is on the roll. The company has reported a mind blowing 1812% growth in Net Profit from Rs0.61 to 11.65 crore in Q3 FY 2008-09 with a 40% growth in revenue over the same period last year. The Ruia group chairman Pawan.K.Ruia dedicates this success to their technical aid agreement with Sumitomo Rubber Industries of Japan in 2007, which has resulted in the increase of their plant capacity to 9,00,000 tyres per month. They plan to further increase it by 5,00,000 tyres per month. The company will be setting up a 6MW co-generation plant at it's Mysore plant. The Falcon Tyres scrip, with face value Rs5 was quoted at Rs152 at the closing of BSE trading on January 29 2010. Here is the press release published by the company: Kolkata, 29 January 2010: "Falcon Tyres Ltd, a Ruia Group company, has sustained its spectacular growth in the quarter ending 31 December 2009. In the meeting of its board of directors held today in Kolkata, the company reported a 40% growth in its total revenue on a year on year quarterly basis. The total income for the period has been Rs 166.66 crore as against Rs 119.15 crore in the corresponding quarter last year. The Net Profit for the period has risen to Rs 11.65 crores from Rs 0.61 crore in Q3, FY 08-09, registering a gigantic leap of 1812%. The Falcon Tyres scrip, with face value of Rs 5, was quoted at Rs 152 at the closing of BSE trading today. Commenting on the results, Ruia Group Chairman Mr. Pawan K Ruia said: “Falcon has started reaping the benefits of continuous expansion of its capacity. Since signing a Technical Aid Agreement with Sumitomo Rubber Industries of Japan in 2007 the Company has increased its capacity to 900,000 tyres per month and commissioned a 6MW co-generation plant at its Mysore plant. Looking at the growth potential of 2-wheeler tyres, the plant capacity is being augmented by another 500,000 tyres per month.” |
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| Falcon tyres Two-wheeler tyres Ruia group |
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