Parts maker Minda Industries has halved its fiscal 2011/12 capital expenditure to INR400m and expects sales and net profit to grow 15% and 10%, respectively, this fiscal year, its chairman and managing director said.

“The growth is not as good as it used to be. It’s better to wait and watch,” Nirmal Minda told Reuters.

The company had planned capital expenditure of INR800m in fiscal 2012 but has deferred expansion worth INR400m by six to eight months, he said.