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