Scooters India to modernise unit

Scooters India Ltd (SIL), with the help of the Ministry of Industries, Government of India, has taken up a short-term project at a cost of Rs 18.63 crore. The project aims for the modernisation and upgrade of the units to improve product quality, increase production and sales.

This was said by P Muthusamy, chairman and managing director of the company, in his address to shareholders, indicating the progress made by the company during the financial year 2006-07.

The 35th annual general meeting of SIL was recently held in Lucknow.

"The company has shown all round improvement in all key parameters of performance as compared with last year. At present the challenge before the company is to improve profitability, asset quality along with strong capital backing to support expansion and use the human and financial capital to add value to ensure adherence to statutory and regulatory directives and national policies," Muthusamy said.

He said that with the government's policy on promoting CNG/LPG vehicles in metros and bigger cities, a new market segment had been created for passenger application, thus providing excellent growth potential for the company.

Incorporated in 1972, Scooters India Limited is situated south -west of Lucknow.