During the first quarter, the company has performed satisfactorily considering the general slowdown in economic growth, he said. The company expects a high rate of growth during the second half of the current year and in the future. It is also evaluating possibilities of suitable takeovers to expand its activities if the demand for various products grows, he said.

The company's performance is linked with the growth of the power sector where past development has been very poor, said Shenoy. Nevertheless, the growth will now pick up as the new government has announced a special thrust to power sector in the development of infrastructure area. "We are expecting some of the power projects to soon achieve financial closure and then ABB will beable to realise its orders," he added.

The company's order-book is much better as compared to last year same time, though the sales are reported at Rs 187 crore during the first quarter as compared to Rs 241 crore during the same period last year. Sales, however, will increase with various projects related to power sector coming to the implementation stage, he added.

Besides the business from the power generation, there are areas, including renovations and modernisation, power transmission and distribution, which will generate growth opportunities for the company. "We have a strong support form the ABB group in all areas of operation, including research and development," said Shenoy, adding that the company is continuously launching new products and its marketshare ranges from 15-40 per cent for products in transmission and distribution. The company is also planning to increase its exports in future.