TAFE Motors and Tractors Ltd, the wholly-owned subsidiary of TAFE (Tractors and Farm Equipment), has launched series of gensets and engines, as it plans to double revenues to Rs 1,000 crore by 2018-19.
TAFE Ltd acquired the gears, transmission and engine business from Eicher Motors in 2005 through the subsidiary TAFE Motors and Tractors Ltd for about Rs 310 crore.
The company retails Eicher Engines up to 45KVA and TMTL Engines from 62.5 KVA and above, to various sectors including corporates, telecom, retail, agro industries, TAFE Ltd, Chairman and CEO, Mallika Srinivasan said.
"With the launch of new range of gensets and engines, we will now have a comprehensive range of products. We are looking to increase the revenue stream from this business. Our value proposition to the TAFE Group (from this business) today is Rs 500 crore. We are looking to double that to Rs 1,000 crore by 2018-19", she told reporters.
Claiming that it was for the first time CRDi technology equipped in automobiles were incorporated in gensets and engines, she said, customers would be able to get a 15 per cent savings on total cost of ownership compared to products offered by the competitors.
The company holds "dominant" market share across the segments including over 90 per cent in agro-sector alone, she said, adding the company would also look at shipping the products to emerging markets in Asia and Africa.
The company exposure in engines and gensets division was about 23,800 units which she said it was expected to reach 40,000 units by 2018-19.
