CEBBCO's Total Income for FY 2013 at INR 502.90 Crore

MUMBAI--May 29, 2013:

Net Profit for FY 2013 at INR 18.50 Crore

Commercial Engineers & Body Builders Co. Ltd. (CEBBCO), India's leading company for design & manufacture of bodies for commercial vehicles, has announced its financial results for the period ended March 31, 2013. The company has recorded total income of INR 502.90 crore and net profit of INR 18.50 crore for the year ended March 31, 2013 as compared to total income of INR 463.63 crore and net profit of INR 40.80 crore for the year ended March 31, 2012.

The company has announced a dividend of 4.0 per cent (INR 0.40 per equity share of INR 10 each).

The company recorded total income of INR 42.68 crore for the quarter ended March 31, 2013 as compared to total income of INR 136.40 crore for the quarter ended March 31, 2012.

Announcing the financial results, Deepak Tiwary, CEO, CEBBCO, said, "The sales in the last quarter of FY 2013 were impacted due to an overall slowdown in sales in the heavy commercial vehicles industry. The company, however, continues to maintain its leadership in FBVs."

"We plan to increase the contribution from power plant structurals and auxiliaries in the current financial year. With the key focus on increasing FBV sales across categories including Tippers, Tankers, Cargo Bodies and Refrigerated vehicle bodies, we also expect a pickup in sales during this fiscal year," Mr. Tiwary added.

Due to higher credit cycles on sale of replacement bodies observed during the pilot project, the company has reworked its strategy to only focus on selective orders from this kind of business. The contribution from sale of replacement bodies to overall sales is hence expected to come down during the year.

The company is also planning to implement Kaizen initiatives across its manufacturing facilities.

About CEBBCO

Commercial Engineers and Body Builders Co. Limited (NSE: CEBBCO, BSE: 533272) is one of the leading manufacturer in India of vehicle bodies for commercial vehicles with an extensive portfolio of product offerings. CEBBCO produces vehicle and locomotive bodies for diverse applications for road and railways transportation. CEBBCO has a strong product portfolio (> 400 approved products) and long standing relationships with key CV players (preferred vendor to most OEMs). CEBBCO has 6 manufacturing facilities; four are located in Jabalpur, one in Indore and one in Jamshedpur.