Page 2 - Auto Components

Motherson Sumi Wiring Q4 results: Net profit rises 38% to Rs 191.44 cr

Auto components maker Motherson Sumi Wiring India Ltd on Thursday reported a 38.3 per cent rise in net profit to Rs 191.44 crore in the fourth quarter ended March 2024. The company had posted a net profit of Rs 138.47 crore in the same quarter a year ago, Motherson Sumi Wiring India said in a regulatory filing. Consolidated total revenue from operations in the quarter under review was Rs 2,232.67 crore as against Rs 1,871.96 crore in the corresponding period previous fiscal, it added. Total expenses in the fourth quarter were higher at Rs 1,986.54 crore as compared to Rs 1,698.5 crore in the same period a year ago. The board has recommended a dividend of 80 paise per equity share of face value Re 1 for the financial year ended March 31, 2024, subject to approval of the shareholders at the ensuing annual general meeting, it added. For the fiscal ended March 31, 2024, net profit was Rs 638.3 crore over Rs 487.04 crore in the preceding year, the company said. In FY24, consolidated t

Sundram Fasteners hits new life-time high; gains 5% on solid Q4 earnings

The company's consolidated net profit grew by 19 per cent YoY to Rs 127.47 crore, backed by a 8.1 per cent rise in revenue.

Maruti Suzuki probing allegations of malpractices by executives: Report

The company has taken possession of the laptops and phones of the executives under the lens

New regulations to benefit Indian auto component manufacturers: Report

The new rules and trends are increasing the need for content per vehicle and this, in turn, is helping companies boost their revenue and profits

Airbag industry in India expected to grow to Rs 7,000 cr by FY27: Icra

The industry size of airbags, a key safety feature in vehicles, is expected to grow to up to Rs 7,000 crore by FY2027 in India, from the current levels of around Rs 2,500 crore, according to ratings agency Icra. The growth in the airbag industry, which is one of the fastest growing auto component segments, is expected to be fuelled by the increase in content per vehicle arising from higher regulatory requirements and voluntary increase in the number of airbags per vehicle for enhancing safety, Icra said in a statement. "The mandatory content per vehicle for airbag manufacturers is expected to rise from Rs 3,000-4,000 currently to Rs 8,000-10,000 by October 1, 2023. The average number of airbags per car sold is about three currently, and this is expected to increase significantly post the mandatory implementation of six airbags per car from October 1, 2023," Icra Vice President and Sector Head Vinutaa S said. Accordingly, Icra said it expects the industry to grow to Rs 6,000-7,000 ..

Chip shortage to cause bigger hit to Dec production: Maruti Suzuki India

Maruti Suzuki India Ltd, the country's top carmaker, said on Friday it expected a shortage of electronic components to impact its production in December more than in recent months

Auto component suppliers to log 8-10% revenue growth this fiscal: ICRA

Auto component suppliers are expected to log an 8-10 per cent growth in revenue this fiscal driven by healthy domestic original equipment manufacturers (OEMs) and pent-up demand from the aftermarket even as headwinds persist on the exports front, credit ratings agency ICRA said in a report. For the first half of the current fiscal, the industry reported a year-on-year growth of 29 per cent, ICRA said on Monday, based on projections from 49 auto ancillaries with aggregate annual revenues of close to Rs 3,00,000 crore. The export orders have slowed down in the last few months, impacted by inflationary pressures, geopolitical tensions, and supply-chain issues. "Domestic original equipment manufacturer (OEM) demand constitutes almost 50 per cent of sales for the Indian auto component industry. This is likely to remain healthy in FY2023, with double-digit growth expected in both passenger vehicle and commercial vehicle segments," said Vinutaa S, Vice President and Sector Head at ...

Amara Raja Batteries soars 10% amid heavy volumes on strong Q2 results

The company's net profit jumped 43 per cent YoY, and it witnessed robust demand in the automotive sector from the aftermarket as well as OEM segments.

Bharat Forge: Rising industrial segment revenue, auto recovery drive gains

Brokerages have also highlighted that the energy crisis in Europe would be a big opportunity for Indian forging and casting companies such as Bharat Forge

Goyal warns automakers against forcing component makers to import

Goyal's remarks disconcerted automakers and their suppliers.

Auto component sector sees record turnover of Rs 4.2 trn in FY22: ACMA

The auto component industry in India exported components worth Rs 1.41 trillion in 2021-22, it said, adding that auto parts worth Rs 1.36 trillion were imported in 2021-22

Lakshmi Venu takes over as MD of auto parts maker Sundaram-Clayton

She managed to turn the firm around, make it a competitive foundry globally, building deep customer ties with Cummins, Hyundai, Volvo, Paccar and Daimler

Auto components maker Sundram Fasteners' Q4 profit drops 24% to Rs 107cr

The company had reported a consolidated net profit of Rs 140.80 crore in the same period of the 2020-21 fiscal

Icra revises downwards revenue growth forecast for auto component industry

Icra revised downwards the revenue growth forecast for the auto components industry in the current fiscal to 15-17 per cent

Implement uniform 18% GST rate on all auto components: ACMA

Industry body Automotive Component Manufacturers Association (ACMA) has urged the Centre to implement a uniform GST rate of 18 per cent on all auto components.

Chip crunch, commodity costs hit auto component companies in H1FY22: ACMA

Exports, aftermarket help keep momentum intact, says Automotive Component Manufacturers Association of India

The share price of this auto company has zoomed 100% in just two months

JBM Auto is cautiously optimistic for FY22 due to higher spend in infrastructure, PLI scheme, scrappage policy and the work done so far within the company.

Bharat Forge posts Rs 270-cr net profit for September quarter

The auto components major on Friday reported a consolidated net profit

Motherson Sumi board approves fundraising of up to Rs 1,000 cr via NCDs

Auto components major Motherson Sumi Systems Monday said its board has approved raising of up to Rs 1,000 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis

Cabinet clears auto PLI scheme for EVs, hydrogen fuel cell vehicles

Incentives worth Rs 26,058 crore will be provided to industry over five years