Automobile seating systems manufacturer, Tata Johnson Controls Automotive, today said it expects revenues to grow by 25 per cent this fiscal to touch Rs 500 crore.
The company, which is a 50:50 joint venture between the Tata Group and US-based Johnson Controls, also plans to invest Rs 20 crore to upgrade existing manufacturing facilities and introducing new products.
"Last year a host of new (vehicle) launches happened, which helped in our business. In this fiscal, we are expecting our topline to grow to about Rs 500 crore from about Rs 400 crore last year," Tata Johnson Controls Automotive Chief Executive Officer A K Belani told PTI on the sidelines of an AIMA event here.
The company has eight manufacturing facilities in India producing seating systems for over eight lakh vehicles per year in the domestic market.
"We are setting up two new facilities at Sanand (Gujarat) for the Nano and one in Bangalore for Toyota's upcoming small car Etios. We have already made investments in these two plants," he added without sharing details.
While the Sanand facility will start production from May this year, the Bangalore unit will go on stream from December, he said.
More From This Section
Belani said the firm will invest about Rs 20 crore next fiscal to upgrade facilities and introduce new products.
The company supplies to major automobile firms, including Tata Motors, Fiat, M&M, Skoda, Honda and Ford, for passenger vehicles, multi-utility vehicles and buses.