Tata group company Voltas is interested in mid-sized acquisitions in the electro-mechanical segment, a senior company official said.
"We will continue to look for acquisition opportunities in the electro-mechanical segment which is a core thrust area for us," Voltas' Executive Vice-President and CFO M M Miyajiwala said.
The company would look at both overseas as well as domestic acquisition opportunities, he said.
The size of the acquisitions would, however, be mid-sized. "We are not looking at large acquisitions. We are interested in mid-sized opportunities," he said.
While looking at acquisitions was a "continuous process", Miyajiwala said that there was, however, nothing concrete at this point of time "that I can talk about".
Voltas' electro-mechanical projects and services segment has fared healthily in Q1 FY 09 with its revenues climbing 24 per cent at Rs 463 crore as against Rs 374 crore in the year-ago period.
"We have got a very strong order-book position and this augurs very well for the rest of this fiscal," Miyajiwala said. The segment's order-book stands at Rs 5,675 crore, registering a 183 per cent growth.
Voltas is also looking at upping its head-count by about 10 per cent this year.
"Presently, we have around 3,200 personnel and we plan to increase our head-count by about 10 per cent this year," Miyajiwala said.
