ITI Ltd to have Rs 100-bn order book by March-end: Parl panel report

ITI LimitedState-run electronics firm ITI Limited will have order booking of about Rs 100 billion by end of this month, according to a parliamentary panel’s report.“The total order booking of ITI will be about Rs 100 billion by March 31, 2018. ITI will achieve this target in the year 2018-19,” the report of Standing Committee on Information Technology said.Recently, the state-run firm bagged a Rs 8.4 billion order for smart meters, and Rs 80 billion worth orders are expected from ASCON project phase IV. ITI being L1 in many tenders would also get orders of about Rs 7.0 trillion before March 2018, the report said.The DoT shared with the committee that during 2016-17, Palakkad unit of ITI earned maximum profit and Rae Bareli unit was under maximum loss.At the end of third quarter of 2017-18, all the units except Naini (Allahabad) were earning profits and it is expected that Naini unit also will become profitable during 2018-19.The business vertical of Naini Unit is solar panel manufacturing and a 30 MW solar plant has been established for taking up panel manufacturing.“ITI has received contract of establishment of 14 MW solar plant and we are actively participating Bhartanet project where in the solar panel requirement will be met by Naini unit,” DoT informed the panel.

Source: Business Standard