| "The group will cross Rs 1,000 turnover in this financial year. The company is growing at 15 to 20 per cent," executive director Vineet Agarwal said. He said the merger of its unlisted group company TCI Seaways will also boost top line. |
| TCI Seaways, engaged in coastal and international cargo movement, has been merged with the TCI, effective from 1 April 2005, subject to shareholders' approval. |
| The ratio of exchange in the event of amalgamation of TCI Seaways into TCI would be 2 shares of TCI of face value of Rs 10 each for every 3 shares of TCI Seaways of face value of Rs 10 each. |
| The existing equity shares having the face value of Rs 10 each to be split into 5 shares of Rs 2 each, subject to other approvals. |
| The revenue of TCI Seaways for last fiscal was Rs 38.80 crore, while profit after tax was reported at Rs 9 crore. |
| "This merger will enable TCI group to offer multi-modal logistics solutions including road, sea and air. The idea is to offer integrated supply chain solutions," Agarwal said. |
| The group companies including TCS Supply Chain Solutions, Transystem International and its express division XPS will also work towards customised supply chain solutions. |
| TCI has also entered into a 6 year agreement with Tata Motors for warehouse space management in Haryana with an investment of 9 crore. |
| "This state-of-the-art warehouse for Tata Motors will cater to the spare parts distribution of their Passenger Car Business unit in North India. This facility has been designed to meet the future requirement including Tata's Rs one lakh car," Agarwal said. |
| He added that the company has plans to open more warehousing space in the country. |
Top Section
Explore Business Standard