MIL gets supply order from volkswagen

New Delhi: Minda Industries Ltd (MIL) said that it has bagged order worth Rs 50 crore from German car maker Volkswagen to supply headlamps and rear lamps for their future models for the domestic market.

The orders also include supply of rear lamps for the global model being produced in Russia. In a statement to the BSE, the company said that it would supply these units from its existing facility at Chakan, Pune. Morever, the company is also conducting feasibility study for setting up a new lighting plant at Bawal in Haryana.

“MIL is in talks with other OEM’s for supply of headlamps and expects the turnover from lighting division to contribute Rs 225-250 crore to the top line in the next 2 years,” said the company statement.

The company posted a net profit of Rs 15.7 crore (Rs 13.5 crore) for the financial year ended 2007-08. Its net sales during the year rose to Rs 396.1 crore (Rs 386.6 crore).