Page 3 - Auto Components

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

Covid 19 effect: Auto component industry's revenue decline 3% in FY21

The fall for the second straight year comes on back of lower automobile volumes

Terra Motors joins hands with FCC Corp to develop EVs, parts in India

Japanese electric vehicle maker Terra Motors Corporation has joined hands with FCC Corporation to collaborate on the development of futuristic electric vehicles for global markets

Minda Industries raises Rs 50 cr via issuance of commercial papers

Auto component maker Minda Industries on Friday said it has raised Rs 50 crore through issuance of commercial papers. "Minda Industries has issued the commercial paper of Rs 50 crore with allotment date June 17, 2021, and due for maturity on August 11, 2021," the company said in a regulatory filing. Minda Industries said this is in line with the management's efforts to bring down the finance cost. Last month, Minda Industries said its board has approved the acquisition of a 27.55 per cent stake in CSE Dakshina Solar for Rs 27 lakh. The acquisition is for availing solar power from CSE Dakshina for the company's units in Tamil Nadu. CSE Dakshina, a special purpose vehicle, is engaged in the business of providing solar power solutions for the captive consumption of commercial and industrial customers in India. It was incorporated in 2019. The company is in the process of setting up the project.

Motherson Sumi Systems posts nearly eight-fold jump in Q4 profit

Consolidated net profit in the quarter came in at at Rs 1,018.69 crore

Autocomp sector set for a rebound after two tough fiscals, says Crisil

The automotive components sector will see revenue rebound 21 to 23 per cent next fiscal: Crisil