Kirloskar Systems chairman and MD Vikram Kirloskar in Calcutta. Picture by Kishor Roy Chowdhury

Calcutta, Jan. 30: The Kirloskar group plans to streamline its products and focus on garnering market share.

?We have a diversified range of products. We would now concentrate on cutting down our product portfolio and increasing the market share of those products,? Kirloskar Systems chairman and managing director Vikram Kirloskar said on the sidelines of a workshop organised by the Confederation of Indian Industry and the Indian Japan Initiative.

The group comprises eight major companies and operates in the sectors of manufacturing, oil and gas, power, construction and mining, agriculture, industry and transport. The Kirloskar group is also present in civic utility systems and in information technology and communications.

The group has joint venture partnership with six Japanese companies in automobile, textile machinery, auto ancillaries, plastic, radiator and air conditioner sets, steel and logistics.

The chairman said apart from Toyota Kirloskar, the group holds stakes, ranging from 10 per cent to 26 per cent, in all the joint venture companies.

The group owns 1 per cent of Toyota Kirloskar Motor and has the option to buy up to 10 per cent. The right to exercise the option ceases in 2007.

Earlier Kirloskar, who is also the vice-chairman of the Toyota Kirloskar Motor, had said negotiations for increasing the group?s stake in the joint venture would start in March 2004. However, he refused to comment on the issue.

Media reports say Kirloskar Systems had decided to exercise the option of a buyback according to an agreement signed between the two partners, although the price had not been decided. Kirloskar Systems wants to buy up to 10 per cent before the agreement between the two gets over.

When the joint venture began operations, Toyota Motor Company owned 76 per cent, while Kirloskar Systems had the remaining.

But over four years, Kirloskars had diluted their stake to 1 per cent.