TIL to expand crane range

TIL, the Kolkata-based crane and other material handling systems maker, is planning to expand its mobile crane range and take its manufacturing capacity to 400 cranes a year, said SK Bhatnagar, Director & President, MHS. TIL currently produces 200 mobile cranes a year with lifting capacities of 20-75 tonne at its Kolkata facility. ?Our second facility in Kharagpur will make cranes with a capacity of up to 150 tonne,? Bhatnagar said. The company will spend about Rs 100 crore on the plant, which will come up in 2012-13. Bhatnagar said TIL is also spending about Rs 50 crore on modernising the Kolkata unit. The expenditure will be funded through a mix of internal accruals, equity and debt, he said. The company has a crane order-book of Rs 50 crore, which it has to service in three months. It sells material handling equipment as opposed to leasing them out like Sanghvi Movers, which buys from companies like TIL. The crane facility in Kharagpur will be part of the Phase II of TIL?s expansion plans. Power, mining and steel contribute 30 per cent to its MHS business, with 20 per cent from construction, 10 per cent from defence and the rest from other sectors. Its total order-book as on December 31 stood at Rs 181.2 crore. For the third quarter, TIL?s standalone net sales and net profit were Rs 53.05 crore and Rs 9.59 crore while last fiscal they were Rs 210.64 crore and Rs 6.28 crore, respectively.