Auto Components

Credit ratings agency, The rating factors in Rico`s established position as a supplier of automotive components and assemblies in the domestic market to leading automotive Original Equipment Manufacturers (OEMs) and tier-1 suppliers; its diversified product lines; focus on increasing customer and geographic diversity and strategic partnerships in the form of JVs with several leading global automotive suppliers.

Rico`s integrated value chain encompassing manufacture of castings (aluminium and ferrous), machining and assembly provides it the capability to be a full service provider to auto OEMs.

Rico has also set up JVs with leading global automotive suppliers that are likely to provide benefits to Rico over the long term in terms of access to technical knowhow; manufacturing capability in alternate product lines; increase in content per vehicle and broader customer base. However, Rico`s high single client concentration (HHML accounted for 46% of business in 2009-10) remains a concern.

Also, the large debt-funded capital expenditure incurred by the company in the past towards expansion of capacity and investments in JVs has resulted in higher financial leverage and weaker debt coverage indicators.

ICRA reaffirms `LA-/A2+` raTING ON Rico Auto Inds - Myiris.com

NEW DELHI: Auto component maker Sona Koyo Steering Systems today said it is exploring possibilities to supply its products to heavy commercial vehicle (CV) makers as it looks to increase its sale by around 30 per cent in this fiscal.

NEW DELHI: Auto component maker Sona Koyo Steering Systems today said it is exploring possibilities to supply its products to heavy commercial vehicle (CV) makers as it looks to increase its sale by around 30 per cent in this fiscal. "In a commercial vehicle space, we are supplying only to Tata Motors' small truck Ace. Now, we are looking at the heavy CV segment," Sona Koyo Steering Systems Vice-Chairman and MD Sunjay Kapur told reporters on the sidelines of Automotive Component Manufacturers Association of India (ACMA) summit here.

Sona Koyo to supply steerings to heavy commercial vehicles - Economic Times

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Did You Know... Bad Vehicle Designs Can Make Injuries Worse? - InjuryBoard.com (blog)

Manufacturer and supplier of auto components, Lumax Industries Ltd (BOM:517206) is planning to invest around Rs.200 crore over next two-three years for setting up two manufacturing plants and one R&D centre in the country.

Manufacturer and supplier of auto components, Lumax Industries Ltd (BOM:517206) is planning to invest around Rs.200 crore over next two-three years for setting up two manufacturing plants and one R&D centre in the country. “We will be putting up two plants, one for Nano in Sanand, which should be operational by the third quarter of this fiscal and second for Toyota's 'Etios' in Bangalore, which should come up by next fiscal,” a top company official mentioned today.

Besides setting up two manufacturing plants, the company is also looking to set up a research and development centre in the National Capital Region.

The funding for all these projects will be adjusted through internal accruals. The company stocks traded at Rs.300 down by over 1.3% in the afternoon trades on the Bombay Stock Exchange (BSE) today.

Lumax plans two units & R&D center for auto parts - Commodity Online

NEW DELHI (Reuters) - The auto components sector is seen growing five times to $110 billion in the next decade with investments of more than $35 billion, an industry body said on Friday.

Of that target about $80 billion will be from India itself and the remaining from exports, the Automotive Components Manufacturers' Association of India said in a statement.

In the year 2020 the auto components sector is expected to provide employment to about 41 million skilled people, contributing 3.6 percent to India's gross domestic product from 2.1 percent now, it said.

The Indian vehicles industry is seeing one of the fastest growth globally at about 30 percent and the entry of automakers from overseas is leading to more demand for cheaper autoparts in the country.

Auto parts sector seen at $110 bln in 2020 - industry body - Reuters India