Kinetic Group targets Rs 1,150 cr revenues from two-wheeler firms

New Delhi, June 3: The Pune-based Kinetic Group has targeted to achieve an over 47 per cent growth in sales at Rs 1,150 crore in this fiscal from its twin two-wheeler companies.

The group expects to generate the targeted revenues by launching new scooterettes, scooters and motorcycle models and by boosting sales of its existing two-wheelers.

Kinetic Engineering Ltd (KEL), the group’s moped and motorcycle venture, expects to generate an over 53 per cent rise at about Rs 550 crore, while Kinetic Motor Company Ltd (KMCL), the ungeared scooter arm, has set a sales target of Rs 600 crore during 2001-02, a jump of about 42 per cent over the previous fiscal, a senior company official said.

“KEL should do about Rs 550 crore, out of which motorcycles will contribute Rs 300-400 crore. KMCL’s target is Rs 600 crore for this year,” KEL joint managing director Sulajja Firodia Motwani said. During 2000-01, KEL had posted a 20 per cent rise in sales at Rs 357.5 crore and a profit of Rs 16.58 crore, up 10.2 per cent over the previous fiscal. KMCL’s sales increased by 9.6 per cent at Rs 423 crore while its net profit rose by 12.5 per cent at Rs 15.91 crore in the fiscal ended March 31, 2001.

Together, the two companies had recorded a 14.1 per cent increase in sales at Rs 780.5 crore over Rs 684 crore recorded during 1999-00. Ms Motwani, who is also a director on the KMCL board, said KEL would bank on its motorcycles, which includes the recently launched 100cc ‘Challenger’ model and the 80cc ‘K4’ model to achieve the sales target for this fiscal.

KEL would also roll out this year two motorcycles of 125cc and 150cc engine capacity under the ‘GF’ series in technical alliance with South Korea’s Hyosung Motor Company.

“We should sell more than 1 lakh motorcycles in 2001-02, including about 60,000-70,000 ‘K4’ models, 20,000 units of the ‘GF’ series and 15,000 ‘Challenger’ models,” Ms Motwani said. (PTI)