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Auto Component Makers
Major auto component firms are likely to invest Rs 25,000-30,000 crore in the next fiscal for capacity expansion and localisation, including electric vehicle (EV) parts, ratings firm ICRA said on Thursday. The sector is also expected to invest in capacity enhancements and upcoming regulatory changes. "ICRA's interaction with large auto component suppliers indicates that the industry is estimated to spend Rs 15,000-20,000 crore in FY2025 and another Rs 25,000-30,000 crore in FY2026," Vinutaa S, Vice President and Sector Head, Corporate Ratings, ICRA Ltd said in a statement. The incremental investments would be made towards new products, product development for committed platforms and development of advanced technology and EV components, apart from capex for capacity enhancements and upcoming regulatory changes, she added. The rating agency said it expects the revenue growth of the Indian auto component industry (represented by a sample of 46 auto ancillaries with aggregate annual ..
Auto components maker Uno Minda on Thursday said its profit after tax increased 21 per cent year-on-year to Rs 233 crore for the third quarter ended December 31, 2024. The company reported a Profit After Tax (PAT) of Rs 193 crore in the third quarter (October-December) of last year. Revenue from operations rose to Rs 4,184 crore in the period under review as compared with Rs 3,523 crore in the year-ago period, Uno Minda said in a statement. The company said its board has approved a capital expenditure of Rs 72 crore for expansion of its Hosur-based aluminium die casting manufacturing facility. "We continue to work on groundbreaking technologies, facilitating localisation and contributing to make in India. With these strategies, we are confident of continued success and help shaping the future of mobility," Uno Minda Group CMD Nirmal K Minda said. The company's strategic focus on innovation, diversification, and operational efficiency continues to drive upward trajectory, solidifyi
Auto components maker Bosch on Tuesday said its consolidated net profit declined by 12 per cent to Rs 458 crore for the third quarter ended December 31, 2024. The company had reported a net profit of Rs 518 crore in the October-December period of the last fiscal. Its revenue from operations rose to Rs 4,466 crore for the third quarter compared to Rs 4,205 crore in the year-ago period, Bosch said in a regulatory filing. "This quarter, Bosch generated growth through the development of advanced automotive components and customer-focused solutions. Increased service income from major OEMs testifies to their continued trust in us and our expertise," Bosch Ltd MD Guruprasad Mudlapur said. The performance further reinstates the company's strategic ability to stay cognizant of market needs and deliver successfully, he added. As part of the realignment of its Building Technologies division globally, the company said it will be carving out and transferring the Video, Access and Intrusion, a
Automotive component maker Belrise Industries has filed preliminary papers with capital markets regulator Sebi to raise Rs 2,150 crore through an initial public offering (IPO). The IPO is entirely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP). The company may consider raising up to Rs 430 crore through a pre-IPO placement. If this is carried out, the issue size will be reduced. As per the draft papers filed on Tuesday, the company intends to utilise proceeds worth Rs 1,618 crore for payment of debt. The company has a borrowing of Rs 2,463 crore in its books as of June 2024. Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles. As of June 2024, it marketed its products both domestically and internationally,
Auto components maker Samvardhana Motherson International on Monday said it has raised Rs 6,438 crore via issue of securities. The QIP issue garnered strong interest from both domestic and foreign institutional investors, leading to substantial demand over the issue size, it said in a regulatory filing. Over 95 per cent of allocations were made to marquee long-only investors such as mutual funds, insurance and pension funds, foreign institutional investor, it added. The proceeds from the issuance will be mainly directed towards debt repayment, thereby further strengthening company's balance sheet and enhancing its position to capitalise on various growth opportunities, it stated. Some of the proceeds will be used towards general corporate purposes, the company said. Shares of the company on Monday ended 2.19 per cent up at Rs 207.25 apiece on BSE.
Commerce and Industry Minister Piyush Goyal on Monday asked Indian auto component makers to explore ways to cut reliance on imports and boost local manufacturing to make the country a net exporter of these products. The minister also urged these companies to target USD 100 billion in exports by 2030. Addressing the auto component industry here, he expressed his concern over the continued reliance on foreign suppliers and encouraged domestic manufacturers to enhance local production capabilities. "Many of our component manufacturers still import, I do not know whether (due to) any compulsion or voluntarily, their needs of inputs from Korea, Japan, Taiwan and one of the neighbours. "I do not understand why even two or three levels down, we cannot plan to become indigenous suppliers and manufacturers so that we can then start supplying those components to other countries," Goyal said. With the huge Indian market and global opportunities, the industry can increase the exports to USD 1
Auto components maker Uno Minda Ltd on Wednesday reported a 17 per cent rise in consolidated profit after tax at Rs 210.8 crore in the first quarter ended June 30, 2024. The company had posted a consolidated profit after tax of Rs 180.17 crore in the same quarter of the previous fiscal, Uno Minda said in a regulatory filing. Consolidated revenue from operations in the first quarter stood at Rs 3,817.51 crore, as against Rs 3,092.66 crore in the year-ago period, it added. Total expenses in the quarter were higher at Rs 3,587.78 crore, as compared to Rs 2,906.79 crore in the same period a year ago. The growth in the quarter was driven by all product segments especially led by lighting, alloy wheels, switches, sensors and controllers, the company said. "Our journey towards becoming a global automotive technology leader continues to gain momentum as we deliver yet another quarter of robust performance, reinforced by our commitment towards innovation and customer satisfaction," Uno Min
Auto components maker Happy Forgings Ltd on Thursday fixed a price band of Rs 808 to 850 per share for its Rs 1,008 crore-Initial Public Offering (IPO). The maiden public issue will open for subscription from December 1921, and the anchor book will be opened for a day on December 18. The IPO comprises a fresh issue of equity shares worth Rs 400 crore and an Offer For Sale (OFS) of up to 71.6 lakh shares by a promoter and a selling shareholder. Paritosh Kumar Garg (HUF) and India Business Excellence Fund III are the selling shareholders in the OFS. Proceeds from the fresh issue will be utilised towards the purchase of equipment, plants, and machinery, the payment of debt and a portion of the funds will also be used for general corporate purposes. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional buyers. Investors can bid for a minimum of 17 equity shares and in multiple
Auto component maker Sterling Tools Ltd on Thursday reported a 36.4 per cent jump in its consolidated Profit After Tax (PAT) at Rs 13.1 crore for the quarter ended June 30. The city-based manufacturer of automotive fasteners and a supplier of Motor Control Units (MCUs), had posted a consolidated PAT of Rs 9.6 crore in the first quarter of FY23, as per a company statement. Total consolidated revenue for the quarter stood at Rs 222.8 crore, up 27.6 per over Rs 174.6 crore topline delivered in the same quarter last fiscal, it said. "Overall auto-industry growth has been tepid and segments like commercial vehicles and tractors have witnessed de-growth. However, we have reported a revenue growth of 7.4 per cent YoY in our fasteners business," said Atul Aggarwal, Whole-Time Director at Sterling Tools Limited. The EV industry witnessed a growth of 77 per cent during the quarter, and the company has reported a staggering growth of 135 per cent in our EV component segment on a YoY basis, he