Chennai, Aug. 12 Sundaram Brake Linings Ltd (SBL) expects its exports business to improve significantly in the current year thanks to demand from the replacement market.
At the company’s AGM on Wednesday, the Chairman and Managing Director, Mr K. Mahesh, said the company had been “getting positive signals” from export markets, especially from the replacement market. “Till new vehicles are bought, the existing vehicles have to be maintained in good shape.”
In 2008-09, the company witnessed 7 per cent growth in its exports turnover to Rs 67 crore, accounting for 40 per cent of the company’s turnover of Rs 171 crore. Shareholders approved a resolution doubling the board’s borrowing limit to Rs 100 crore.
Source : Business Line