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Mahindra CIE Automotive Ltd.

BSE: 532756 Sector: Engineering
NSE: MAHINDCIE ISIN Code: INE536H01010
BSE LIVE 09:50 | 23 Nov 242.75 2.50
(1.04%)
OPEN

241.20

HIGH

244.20

LOW

240.70

NSE 09:36 | 23 Nov 241.30 1.05
(0.44%)
OPEN

240.85

HIGH

242.75

LOW

239.90

OPEN 241.20
PREVIOUS CLOSE 240.25
VOLUME 1694
52-Week high 266.50
52-Week low 174.45
P/E 140.32
Mkt Cap.(Rs cr) 9,185
Buy Price 242.70
Buy Qty 40.00
Sell Price 243.70
Sell Qty 41.00
OPEN 241.20
CLOSE 240.25
VOLUME 1694
52-Week high 266.50
52-Week low 174.45
P/E 140.32
Mkt Cap.(Rs cr) 9,185
Buy Price 242.70
Buy Qty 40.00
Sell Price 243.70
Sell Qty 41.00

Mahindra CIE Automotive Ltd. (MAHINDCIE) - Company History

Mahindra Forgings Ltd is a forging company with plants located in Germany, United Kingdom and India. The company's German operations are providers of forging parts and axle beam manufacturers worldwide. Their United Kingdom operations specialize in producing flashless parts and the Indian operations focuses on design, development and machining of crankshafts. In Europe, the company is focused on the truck (commercial vehicle) segment. Mahindra Forgings Ltd was incorporated on August 13, 1999, as a public limited company with the name Mahindra Automotive Steels Ltd. In January 15, 2003, the company was converted into a private limited company and the name was changed to Mahindra Automotive Steels Pvt Ltd. As per the scheme of arrangement between the company and Amforge Industries Ltd, the entire Chakan unit of the Amforge Industries Ltd as a going concern together with all the assets and liabilities relating to the Chakan unit transferred to and vested in the company with effect from April 1, 2005. In April 4, 2006, the company was again converted into public limited company and the name was changed to Mahindra Automotive Steels Ltd. During the year 2006-07, the company expanded the installed capacity of Forgings by 1,773 MT to 42,765 MT. They changed their name from Mahindra Automotive Steels Ltd Mahindra Forgings Ltd with effect from September 26, 2006 with a view to signify the true character and nature of business activity undertaken by the company. During the year 2007-08, the company expanded the installed capacity of Forgings by 5,307 MT to 48,072 MT. Also, they set up a World class Tool Room and Die shop to upgrade their operations. In December 2007, Mahindra Stokes Holding Ltd ultimately holding Stokes Group of Companies, Mahindra Forgings Overseas Ltd ultimately holding Jeco Group of Companies and Mahindra Forgings Mauritius Ltd ultimately holding Schoneweiss Group of Companies were amalgamated with the company with effect from appointed date April 01, 2007. During the first quarter of 2008-09, the company commissioned three additional presses, namely 2 x 4000T Presses and 1 x 6300T Press, virtually doubling the capacity. In addition, they re-commissioned the 5000T Press in the last quarter of the financial year. In June 2010, the company's direct 100% subsidiary Mahindra Forgings Global Ltd, Mauritius transferred their entire investment in Schoneweiss & co GmbH, Germany to the company's 100% step-down subsidiary Mahindra Forgings Europe AG, Germany thereby consolidating all their German operations under one holding company, Mahindra Forgings Europe AG.