Business Standard reported that engineering and construction major Larsen and Toubro is expecting a 10% growth in sales from its electrical and automation business in the next financial year.

Mr SC Bhargava senior vice president and head of electrical and automation business of L&T said that "We expect the electrical and automation business to grow by over 10% in FY13 as we see improvement in infrastructure and power sectors among others.”

Mr Bhargava further said that "We have set a target to introduce at least seven to eight products (including variants) every year. We earmark CAPEX of INR 100 crore to INR 150 crore every year to introduce new products as well as expanding manufacturing capacities.”

L&T's electrical and automation division is engaged in making switchgear products, switchboards, metering systems, petrol dispensing pumps and medical equipment. Besides, it offers products and systems solutions for automation and UPS related projects. The systems solutions cover a host of industry verticals like cement, metals, paper, oil & gas, water, power and food processing.

In FY'11, E&A division's sales stood at INR 3,850 crore and according to sources it is expected to touch INR 4,500 crore in the current fiscal. L&T launched around 10 products (including variants) at 'Elecrama-2012', an exhibition organised here from January 18-22 by IEEMA, the apex body of Indian electrical equipment industry.

L&T has operations at different locations in India two in Mumbai and one each in Ahmednagar, Mysore, Faridabad and Coimbatore.

(Sourced from BS)