Tube Investments registered good earnings in the third quarter with steady growth across the engineering and metal sheets segments. S Vellayan, MD of Tube Investments, talked about how are they seeing demand going forward and what are their Q4 and FY22 revenue expectations.

"Revenue growth will be in the range of like 10-15 percent on the core business. FY22 will our first year where we will basically have CG Power performance in it as well."

On CG Power, he said, "My sense is that the turnaround is definitely on track and if the economy picks up, the way we see industrial economy and hopefully the power sector picking up as well, then it can definitely give us a lot more impetus on the turnaround and perhaps can make it happen a bit more quickly than we thought it would happen before.”

Talking about growth in segments Vellayan said, "The overall bullishness in the economy is coming and stemming from public spending. If public spending plays out the way we see the government having articulated it, we think that both industrial and auto will really pick up the next year. Industrial is more dependent on public spending and auto is more consumer led, so we basically see that sector also picking up."

For full management commentary, watch the video.

(Edited by : Priyanka Rathi)

First Published:Feb 18, 2021 12:19 PM IST