The company, which is expected to become debt-free by the end of the current fiscal, proposes to fund the capex plan through internal accruals.
Informing this at the company's annual general meeting (AGM) here today, SDM Rao, the chairman & managing director of Samkrg Pistons, said that the company had tied up with IDC-Tokyo for upgrading the technology and design capabilities on continuous basis.
The company had developed various models of pistons and piston rings to export to Australia, Italy, Europe, Japan, South Korea and US, Rao informed.
The company hopes to increase its export turnover in the coming years on the back of the new model pistons and rings. Of the total turnover of Rs 70 crore during last fiscal, exports consist of Rs 5.55 crore.
With an annual growth rate of 15 per cent, Sam Pistons aims to become a Rs 100 crore company by 2005.
