Page 3 - Auto Component Makers

Sundram Fasteners Q2 results: Net profit rises 14% rise to Rs 133 crore

The consolidated earnings per share for the quarter amounted to Rs 6.28, compared to Rs 5.49 in the corresponding period last year

$5 bn opportunity for auto parts industry in material circularity: Report

Business practice could increase companies' top line by 10-20 per cent, it says

Sterling Tools' June qtr profit jumps 36% to Rs Rs 13 cr, total revenue up

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

Exide Industries rallies 7%, inches to record high on improved Q1 earnings

Steady sales expansion in key verticals along with cost optimisation benefits resulted in healthy EBITDA growth.

This Ashish Kacholia-owned stock tops listing day high; soars 19% in 3 days

SJS Enterprises hit a record high of Rs 571.80 on rallying 6 per cent on the BSE in intra-day trade, on strong business outlook.

Samvardhana Motherson int'l Q4 net profit jumps five-fold to Rs 654 cr

Auto component major Samvardhana Motherson International on Friday said its consolidated net profit surged over five-fold to Rs 654 crore for the fourth quarter ended March 2023, aided by robust sales. The company reported a net profit of Rs 122 crore in the January-March quarter of 2021-22. Its total revenue from operations rose to Rs 22,477 crore in the fourth quarter compared to Rs 17,241 crore in the year-ago period. For the year ended March 31, 2023, the company said its net profit rose to Rs 1,496 crore against Rs 874 crore in FY22. The total revenue from operations increased to Rs 78,701 crore last fiscal compared to Rs 63,774 crore in 2021-22. "With the support of our customers and the hard work of our teams, the company has ended the year with strong performance," Motherson Chairman Vivek Chaand Sehgal said. The robust booked business of nearly USD 70 billion is a reflection of customer trust in Motherson, he added. The company said its board recommended a dividend of R

Sterling Tools hits 5-year high, surges 10% on strong business outlook

EV penetration in 2W and 3W is expected to increase at a fast rate over the next few years which augurs well for the company's growth.

Ramkrishna Forgings surges 9% on emerging lowest bidder for Railways order

The total quantity of forged wheels to be supplied will be around 1.54 million wheels over a period of 20 years.

Kabra ExtrusionTechnik surges 15%, nears 52-week high on strong Q3 show

The management said revenue growth in Q3FY23 was aided by strong growth in the Battrixx division revenues.

Wheels India starts exports of wheels with advanced flow form technology

The company said the flow form technology involves the application of pressure to the inner barrel of the wheel while spinning and after it has been casted

Stock of this auto ancillary company has zoomed 38% in 3 days

In the past eight months, it has more-than-doubled or zoomed 203 per cent from Rs 116.05, which it had touched on May 12, 2022

Bosch, Uno Minda: Analysts bet on airbag makers on govt push for car safety

Implementation of airbags in other vehicle segments over the medium term will offer further revenue upside for airbag manufacturers, as per rating agency ICRA

Domestic auto parts makers benefit from supply disruptions from China

While they have not been able to make a huge dent globally, their operations have grown with OEMs in India beginning to lean on them more heavily for supplies

Craftsman Automation soars 9%; hits record high on acquisition of DR Axion

The company and DRAIPL both operate in the auto components space and have strengths in complementary areas. The acquisition will help both entities leverage their strengths and build better synergies.

Steel Strip Wheels to set up JV with Israel's Redler Technologies

Auto component maker Steel Strip Wheels Ltd on Tuesday said it has entered into a pact to form a joint venture with Israel's Redler Technologies for development, manufacturing and sales of motion controllers for electric vehicles in India. The two companies have signed a memorandum of understanding for the same and will collaborate on EV controllers for two-, three- and four-wheelers, Steel Strip Wheels Ltd said in a regulatory filing. The association will synergise the company's manufacturing capability, large consumer access and strong Indian presence with Redler's access to advanced technology, it added. While Steel Strip Wheels is an automotive wheel maker, Redler is into design, development and production of servo motion control systems, intelligent circuit breakers and power distribution systems, the filing said.

What does ACMA President Sunjay Kapur think of localisation?

Business Standard's S Dinakar caught up with Sunjay Kapur, the president of the Automotive Component Manufacturers Association of India, to know how the sector is performing and more

Auto component firm Sundram Fasteners posts 6% dip in Q2 net profit

Board approves amalgamation of Sunfast TVS and TVS Engineering with Sundram Fasteners

Bharat Forge Q1 net profit marginally rises to Rs 160 cr; stock up 3.5%

The company had posted a consolidated net profit of Rs 152.75 crore in the same quarter last fiscal, Bharat Forge said in a regulatory filing.

EV growth, mkt share to forge gains for auto component maker Sona Comstar

Margins could improve given softening commodity prices

Supply chain uncertainty saddles auto component firms with inventory

Impact on passenger car makers due to chip crisis and raw material shortage, and on two-wheeler, tractor and CV makers due to demand swings has trickle-down effect on autoparts makers