FCI OEN Connectors, promoted by FCI France, is setting
up a factory in Chennai for the exclusive manufacture
of electrical connectors. The factory will set up on leased
premises this year according to company sources. This
will be the third factory of the company after the units
in Kochi and Bangalore. The electrical connectors are
used in the power equipment mostly of electricity boards.
section is the major customer of the company. Its connectors
are made for landline phones, according to company sources.
It is also catering more to automotive and power industries
now apart from Defence section.
company is aiming for greater thrust in exports with
the introduction of new generation connectors Metral
4000, Modjack, Eyemax and Millipac. Last year, 40 percent
of the total sales came from exports. The net sales
in the last calendar year was Rs 76.32 crore and the
net profit Rs 11.72 crore. For the first quarter of
the current year, the sales went up by 32.5 percent
to Rs 22.86 crore from Rs 17.24 crore in the corresponding
period of the previous year. The net profit rose by
54.21 percent to Rs 3.56 crore from Rs 2.31 crore in
the same period. The exports during the quarter were
Rs 11.06 crore as against Rs 5.85 crore.
year, the company had invested Rs 17.1 crore for capacity
enhancement. This year also the company is planning
to increase the production capacity. This will be funded
internal accruals and from preferential issue of shares
to the promoter company, FCI France. FCI Frances''s shareholding
will increase to 67.83 percent from 62.87 percent after