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SAL Automotive Share Price

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NSEBSE
Stock not traded

535.0015.00 (2.88%)

12:00 AM,12th Apr 2024

BSE : 539353

NSE :

Sector : Auto

ISIN Code : INE724G01014

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Last Updated: Apr 12 2024 | 12:00 AM IST

Market Cap (₹ Cr)

0

Turnover (₹ Cr)

0.00

Volume (Shares)

Face Value

10

52-WK High

0.00

52-WK High Date

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52-WK Low

0.00

52-WK Low Date

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All Time High

0.00

All Time High Date

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All Time Low

0.00

All Time Low Date

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SAL Automotive Ltd

Swaraj Automotives Limited (SAL) (formerly known Swaraj Automotives Limited) was incorporated as Public Limited Company on 20th November 1974. The Company is an emerging global manufacturer of automotive components seats and agricultural implements and also a leading and preferred supplier to the Indian automotive industry. The Company was inaugurated by the Hon'ble President of India as 'Punjab Scooters Limited' and started manufacturing scooter named as Vijay Kesari. The Company diversified into manufacturing of seats in 1986 and seat mechanism in 1994 in technological tie-up with Fuji Kiko of Japan. The company is engaged in manufacturing business of Automobile Components which includes Tractor seats LCV (Light Commercial Vehicles) seats seat mechanisms for passenger cars & commercial vehicles and seat frames for commercial vehicles and agriculture Implements which include Rotavators Tractor trailers and Planter etc. The Company has manufacturing plant at Nabha located in the State of Punjab and second plant at Dharwad located in the State of Karnataka. The product line of the Company includes seats seat adjusters/ sliders seat recliners and agri implements namely Rotavators & Tractor Trolleys. During the year 2016 Mahindra & Mahindra Ltd one of the promoters of the Company (the Seller) entered into a Share Purchase Agreement on 16th October 2015 with b4S Solutions Private Ltd (the Acquirer) for sale of their entire equity stake of 71.19% held in the Company at Rs. 145.50 per share. The acquirer subsequently acquired the entire equity stake of 2.99% of other promoter Punjab State Industrial Development Corporation (PSIDC) held in the Company at the same rate. Thereafter pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011 the acquirer had also made an open offer to the shareholders of the Company for acquiring another 25.82% equity shares of the Company. The entire process was successfully completed on 1st February 2016 taking b4S Solutions Private Limited' s equity holding in the Company to 88.28% and they became promoter of the Company.During the year 2017 B4S Solutions Private Ltd (b4S or the promoter) acquired the entire equity stake of 71.19% held by Mahindra & Mahindra Ltd (M&M) one of the then promoters of the Company (the Seller) by entering into Share Purchase Agreement with M&M on 16th October 2015. b4S subsequently also acquired the entire equity stake of 2.99% held by the then other promoter Punjab State Industrial Development Corporation (PSIDC). Thereafter pursuant to SEBI (SAST) Regulations 2011 b4S made an open offer to the shareholders of the Company. The entire process completed on 1st February 2016 and b4S's total equity holding in the Company stood at 88.28%. To comply with requirements applicable regulations to restore public shareholding in the Company to a minimum of 25% the promoter divested 158359 equity shares to the public via three offers for sale during the period December 2016 and January 2017 which has brought down the promoter's shareholding in the Company to 81.68% as on March 31 2017. The promoter proposes to meet its obligation to divest the remaining 6.68% of its shareholding in near future.During the year under review the Company set up new seat frames using robots of manufacturing facilities at Dharwad Karnataka to serve its customers in the West and South Region. The plant started its operations on 24th January 2018.During the year 2018 b4S solutions Private Ltd (b4S or the promoter) acquired the entire equity stake of 71.19% held by Mahindra & Mahindra Ltd (M&M) one of the then promoters of the Company (the Seller) by entering into Share Purchase Agreement with M&M on 16th October 2015. b4S subsequently also acquired the entire equity stake of 2.99% held by the then other promoter Punjab State Industrial Development Corporation (PSIDC). Thereafter pursuant to SEBI (SAST) Regulations 2011 b4S made an open offer to the shareholders of the Company. The entire process completed on 1st February 2016 and b4S's total equity holding in the Company stood at 88.28%. To comply with requirements applicable regulations to restore public shareholding in the Company to a minimum of 25% the promoter divested 318445 equity shares to the public via seven offers for sale during the period December 2016 to November 2017 which has brought down the promoter's shareholding in the Company to 75% as on March 31 2018. Meanwhile on July 19 2017 SEBI passed an interim order to prohibit Company Directors and Promoter from buying selling or otherwise dealing in securities of the Company either directly or indirectly due to non-compliant to Minimum public shareholding (MPS) requirement. After dilution of shareholding to 75% via OFS as mentioned above the company achieved Minimum Public Shareholding as on 23rd November 2017. On February 14 2018 SEBI passed a final order stating that there is no violation on part of Company/ Promoter considering enough to warrant any other enforcement action against the Company or its Directors. Further SEBI found this matter to be disposed of without any further enforcement action.During the financial year 2021 to manufacture seat and seat frame for commercial and passenger vehicle an additional facility is under commissioning at Rudrapur in the State of Uttrakhand. Out of the initial setup cost of Rs.15.37 lakhs incurred till 31 March 2021 Rs. 7 lakhs being capex has been accounted for CWIP and rest amount of Rs. 8.37 lakhs of revenue has been charged to profit & loss account.

SAL Automotive Ltd - Key Fundamentals

PARAMETER VALUES
Market Cap (₹ Cr)

128

EPS - TTM (₹) [S]

28.86

P/E Ratio (X) [S]

3.44

Face Value (₹) 10
Latest Dividend (%)40.00
Latest Dividend Date 05 Sep 2023
Dividend Yield (%) 0.75
Book Value Share (₹) [S]155.39
P/B Ratio (₹) [S]3.44
[*C] Consolidated [*S] Standalone

Funds Owing this Stock

Scheme Name Amount Invested ( ₹ Cr ) No Of Shares Net Asset (%)

Research Reports

Date BrokerActionPrices(Rs)Report
Data Not Found

Stock Strength

Today's Low/High

515.40

540.00

Week Low/High

511.00

544.00

Month Low/High

440.00

544.00

Year Low/High

256.00

697.00

All time Low/High

12.50

714.00

Share Price Returns

Period BSENSE SENSEXNIFTY
1 Week1.90%%0.000.03%
1 Month9.27%%0.780.82%
3 Month-5.49%%2.312.85%
6 Month23.76%%11.8013.77%
1 Year104.94%%22.9426.43%
3 Year237.97%%55.0557.36%

Company Info

Company Information

Chairman & Independent Directo : Rajiv Sharma.

Executive Director & MD : Rama Kant Sharma

Independent Non Exe. Director : Kailash Nath Agarwal

Non-Exec & Non-Independent Dir : Jamil Ahmad

Executive Director (Finance) : Namrata Jain

Registered Office: C-127 4th Fl Sat Guru Infotech, Phase 8 Indl Area S A S Nagar,Mohali,Punjab-160071 Ph: 91-172-4650377

Email:kaushik.gagan@salautomotive.in

URL:http://www.salautomotive.in