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Munjal Auto Industries Ltd.

BSE: 520059 Sector: Auto
NSE: MUNJALAU ISIN Code: INE672B01032
BSE 15:59 | 16 Jan 86.45 -2.75
(-3.08%)
OPEN

90.80

HIGH

90.80

LOW

83.55

NSE 15:59 | 16 Jan 86.15 -4.10
(-4.54%)
OPEN

90.50

HIGH

90.85

LOW

83.50

OPEN 90.80
PREVIOUS CLOSE 89.20
VOLUME 48369
52-Week high 97.60
52-Week low 44.90
P/E 24.22
Mkt Cap.(Rs cr) 865
Buy Price 0.00
Buy Qty 0.00
Sell Price 86.45
Sell Qty 200.00
OPEN 90.80
CLOSE 89.20
VOLUME 48369
52-Week high 97.60
52-Week low 44.90
P/E 24.22
Mkt Cap.(Rs cr) 865
Buy Price 0.00
Buy Qty 0.00
Sell Price 86.45
Sell Qty 200.00

Munjal Auto Industries Ltd. (MUNJALAU) - Company History

Munjal auto is a Fast-growing and Forward-looking Hero Honda Group Company Manufacturing superior light engineering automotive products. The Hero group promoted Gujarat Cycles Ltd (now Munjal Auto Industries Ltd), as a 100% EOU to meet the radical divergent needs of the international bicycle markets. A Joint Venture with the State-owned Gujarat Industries Investment Corporation, this manufacturing division of the group caters the need of sophisticated markets like US, Germany, France, UK and Australia. Hero Honda Motors Ltd is one of the Major clients of the Company and the Company manufactures 'Q' Class Components namely Mufflers and rims for Hero Honda CD100, CD Dawn, Splendours Models. The Company has successfully developed Muffler converter emission sub assembly launched in the HHML CBZ Models. Now Munjal auto is a leader in providing specialized automotive components involving processes of stampings, electroplating, painting and forging. The Company has its plant located at Waghodia at Vadodara District of Gujarat and at Binola at Gurgaon District of Haryana. Initially the Company was concentrating on manufacturing and exporting Bicycles. In the year 1999 the Company changed the focus of its business from Bicycle manufacturing to Auto Components Manufacturing by diversifying in to automotive products During the year 1999-2000, Auto Components Project(Rims and Mufflers) were successfully completed at the Companies plant located at Waghodia. The First phase of expansion in the new manufacturing facilities at binola (Haryana) was completed during the year. With the completion of first phase of the project the Capacity of Cold & Warm Forged Components was 3000000 Sets. During 2000-2001, the Second phase of the new manufacturing facilities at Binola was completed and the warm/cold forging unit at Binola (Haryana) commissioned from November 2000. With the completion of the above mentioned project and installation of new electroplating plant the capacity of Motorcycle Rims stood increased from 800000 Nos to 960000 Nos and Mufflers stood increased from 600000 Nos to 1320000 Nos. During the year 2001-2002 Rims capacity was increased from 960000 Nos to 2550000 Nos. and Muffler capacity was also increased from 1320000 Nos to 1800000 Nos. As the Companies networth exceeds its accumulated losses the company is no longer a sick company, which was declared as Sick Company under BIFR in the year 1993-94. The companies Waghodia unit has carried out an expansion with the addition of one more rim mill with a investment of Rs.17 crore during 2001-2002. During the year 2004-2005, the Companies Binola Unit successfully developed gear primary driven components for Hero Honda Ltd during the year. The Unit also planned an aggregated investments of Rs.23.50 crore for the above components and also for expanding the capacity fo existing forging/gear components. During 2005-2006 , with the companies approval, Binola Unit of the Company was hived off / demerged into separate Company namely, Shivam Autotech Limited w.e.f. August 01, 2005 (the appointed date). Hon'ble High Courts of Gujarat and Delhi sanctioned the Scheme vide their Orders dated March 29, 2006 & March 30, 2006 respectively. The shareholders of the Company who held two shares of the company were issued one new share of the Company and one share of Shivam Autotech Limited. The Company also installed a new wheel manufacturing Line for the wheels for Scooters and Passenger Cars. The companies installed capacity of Autorims and Mufflers expanded from 2050000 Nos to 3600000 Nos and from 3300000 Nos to 3750000 Nos respectively. The companies production capacity of Scooter Wheels also stood at 600000 Nos during this period.