Intuitech Tool Co (ITC), a UK-based automobile service tool and equipment manufacturer, says it plans to increase its turnover in India by three times in the next five years.
28 Feb 2015 | 4571 Views | By Jaishankar Jayaramiah
Intuitech Tool Co (ITC), a UK-based automobile service tool and equipment manufacturer, says it plans to increase its turnover in India by three times in the next five years. This British company has manufacturing facilities only in India in the form of two plants in Bangalore, set up mainly because ...
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Intuitech Tool Co (ITC), a UK-based automobile service tool and equipment manufacturer, says it plans to increase its turnover in India by three times in the next five years. This British company has manufacturing facilities only in India in the form of two plants in Bangalore, set up mainly because of high labour costs in the UK.
Speaking to Autocar Professionalat ACMA Automechanika New Delhi, Jayachandran K Menon, director of Intuitech Tool Company India, the 100 percent subsidiary of ITC, said around 50 to 60 percent of the company’s revenue comes through exports while the domestic market accounts for the balance.
ITC, which has a 500-strong product portfolio, has been manufacturing its products in India since the past 17 years primarily for the overseas market; it started selling its products in the domestic market since the past five years, said Menon.
Several OEMs have approved its products for their service stations besides using them their manufacturing facilities. For instance, the company has been supplying a company specified electrical testing tool and engine compression measurement kit to Tata Motors for use both in Tata’s production facilities and service stations. Tata has approved 14 different products from ITC, he said. Other key OEM customers which have approved its products include Mahindra & Mahindra, Fiat Auto India, Toyota Kirloskar Motor, Maruti Suzuki India and Nissan India.
Currently the company’s turnover is around Rs 15 crore of turnover, of which more than half comes from the export market. In the next five years, he said the company is confident of achieving Rs 50 crore with domestic sales alone touching Rs 25 crore, he said.
He also said the company is looking to manufacture some products for export to Asian markets. It has many products for the automotive service industry like protective covers for seats, steering wheel, gearshifting knob and handbrake, and reusable nylon seat covers. The company claims its seat cover is the only one which is an easy fitment on a seat with integrated seatbelts and is made from tough 40Z nylon fabric which is washable and repels oil, grease, dirt and water. ITC’s body tools product portfolio include masking paper dispenser (on floor and wall mountable) and masking paper dispenser. It also has a 14-piece automobile glass and windshield remover tool kit to cut the vinyl adhesive compound and urethane around the windshield and auto glass. Other equipment includes windshield removal and installation tool kit, suction lifter, car glass removal tool set, windscreen cutting wire, steel floor jack, trolley jack, folding crane and vertical transmission jack.
Jayachandran K Menon, director, Intuitech Tool Company India.