India’s OE Auto & Vehicular Components Manufacturing Industry

Transcription

India’s OE Auto & Vehicular
Components Manufacturing Industry
Size, segmentation, competition, growth, trends and opportunities underlying
the supply of select components for India’s OE automotive, truck,
construction vehicle and industrial applications
Sample Pages
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Research Publications & Consultancy for Global OE Vehicular, Body, Engine,
Equipment, Trailer, Component & Related Industries
TABLE OF CONTENTS
PREFACE................................................................................................................................................................................ii
A. INTRODUCTION .............................................................................................................................................................1
B. EXECUTIVE SUMMARY...............................................................................................................................................4
B.1 Product/Market Overview......................................................................................................................................4
B.1.1 Drive Transmission & Steering Parts/Components ...................................................................................... 5
B.1.2 Suspension & Braking Parts/Components ..................................................................................................... 5
B.2 Market Analysis & Developments ........................................................................................................................6
B.3 Market Size, Competitive Structure & Shares .................................................................................................8
Table B.1
Estimated Size of the Drive Transmission & Steering Parts Manufacturing Industry
in India ..................................................................................................................................... 13
Chart B.1
Estimated Dollar Sales for Drive Transmission & Steering Parts Manufacturing in
India by Specific Segment.................................................................................................... 13
Table B.2
Estimated Dollar Sales of the Top 10 Drive Transmis sion & Steering Parts
Manufacturers in India .....................................................Error! Bookmark not defined.
Table B.3
Number of Companies Manufacturing Drive Transmission & Steering Parts in India
by Dollar Sales Range......................................................Error! Bookmark not defined.
Chart B.2
Number of Companies Manufacturing Drive Transmission & Steering Parts in India
by Dollar Sales Range......................................................Error! Bookmark not defined.
Table B.4
Estimated Size of the Suspension & Breaking Parts Manufacturing Industry in India
..............................................................................................Error! Bookmark not defined.
Chart B.3
Estimated Dollar Sales for Suspension & Breaking Parts Manufacturing in India by
Specific Segment ..............................................................Error! Bookmark not defined.
Table B.5
Estimated Dollar Sales of the Top 10 Suspension & Braking Parts Manufacturers in
India.....................................................................................Error! Bookmark not defined.
Table B.6
Number of Companies Manufacturing Suspension & Braking Parts in India by
Dollar Sales Range ...........................................................Error! Bookmark not defined.
Chart B.4
Number of Companies Manufacturing Suspension & Braking Parts in India by
Dollar Sales Range ...........................................................Error! Bookmark not defined.
C. INDUSTRY OVERVIEW ................................................................................................................................................9
C.1 Drive Transmission & Steering Parts/Components ........................................................................................9
Table C.1.1(a) Estimated Dollar Sales for Drive Transmission & Steering Parts in India: Alphabetic
Order ...................................................................................Error! Bookmark not defined.
Table C.1.1(b) Estimated Dollar Sales for Drive Transmission & Steering Parts Manufacturing in
India: Rank Order by Sales .............................................Error! Bookmark not defined.
Table C.1.2(a) Estimated Dollar Sales for Drive Transmission & Steering Parts Manufacturing in
India by Specific Type: Alphabetical Order................Error! Bookmark not defined.
Table C.1.2(b) Estimated Dollar Sales for Drive Transmission & Steering Parts Manufacturing in
India by Specific Type: Rank Order by Total Sales ...Error! Bookmark not defined.
C.2 Suspension & Braking Parts/Components ........................................................................................................9
Table C.2.1(a) Estimated Dollar Sales for Suspension & Braking Parts in India Alphabetic Order
Table C.2.1(b) Estimated Dollar Sales for Suspension & Braking Parts Manufacturing in India Rank
Order by Sales ...................................................................Error! Bookmark not defined.
Table C.2.2(a) Estimated Dollar Sales for Suspension & Braking Parts Manufacturing in India by
Specific Type Alphabetical Order..................................Error! Bookmark not defined.
Reproduction without written permission
of the publisher is strictly prohibited.
i
Table C.2.2(b)
Estimated Dollar Sales for Suspension & Braking Parts Manufacturing in India by
Specific Type Rank Order by Total Sales ....................Error! Bookmark not defined.
D. ANALYSIS BY PRODUCT TYPE..............................................................................Error! Bookmark not defined.
D.1 Drive Transmission & Steering Parts/Components ..................................... Error! Bookmark not defined.
D.1.1 Steering Systems ................................................................................................. Error! Bookmark not defined.
D.1.1.1 Product/Market Overview........................................................................................................................... 10
D.1.1.2 Market Analysis & Developments............................................................................................................. 10
D.1.1.3 Market Size & Competitive Structure & Shares ..................................................................................... 10
Table D.1.1.1(a) Estimated Market Size and Shares for Steering Systems Manufacturing in India:
Alphabetic Order...............................................................Error! Bookmark not defined.
Table D.1.1.1(b) Estimated Market Size and Shares for Steering Systems Manufacturing in India:
Rank Order by Sales.........................................................Error! Bookmark not defined.
Map D.1.1.1
Steering Systems Dollar Manufacturing Densities in India. ..... Error! Bookmark not
defined.
Table D.1.1.2
Number of Companies Manufacturing Steering Systems by Dollar Sales Range in
Chart D.1.1.1
Number of Companies Manufacturing Steering Systems by Dollar Sales Range in
Chart D.1.1.2
Estimated Market Shares for Steering Systems Manufacturing in India: Sales Market
Shares for Top Five Manufacturers ...............................Error! Bookmark not defined.
Chart D.1.1.3
Estimated Market Shares for Steering Systems Manufacturing in India: Sales Market
Shares for Top Six Manufacturers .................................Error! Bookmark not defined.
Table D.1.1.3
Estimated Market Size and Shares for Steering Systems Manufacturing in India: All
States...................................................................................Error! Bookmark not defined.
Chart D.1.1.4
Estimated Market Shares for Steering Systems Manufacturing in India: All States
D.1.2 Gear Box ............................................................................................................... Error! Bookmark not defined.
D.1.2.1 Product/Market Overview......................................................................Error! Bookmark not defined.
D.1.2.2 Market Analysis & Developments........................................................Error! Bookmark not defined.
D.1.2.3 Market Size & Competitive Structure & Shares ................................Error! Bookmark not defined.
Table D.1.2.1(a) Estimated Market Size and Shares for Gear Box Manufacturing in India: Alphabetic
Table D.1.2.1(b) Estimated Market Size and Shares for Gear Box Manufacturing in India: Rank Order
by Sales...............................................................................Error! Bookmark not defined.
Map D.1.2.1
Gear Box Dollar Manufacturing Densities in India. ...Error! Bookmark not defined.
Table D.1.2.2
Number of Companies Manufacturing Gear Box by Dollar Sales Range in India
Chart D.1.2.1
Number of Companies Manufacturing Gear Box by Dollar Sales Range in India
Chart D.1.2.2
Estimated Market Shares for Gear Box Manufacturing in India: Sales Market Shares
for Top Five Manufacturers ............................................Error! Bookmark not defined.
Chart D.1.2.3
Estimated Market Shares for Gear Box Manufacturing in India: Sales Market Shares
for Top Ten Manufacturers .............................................Error! Bookmark not defined.
Table D.1.2.3
Estimated Market Size and Shares for Gear Box Manufacturing in India: All States
Chart D.1.2.4
Estimated Market Shares for Gear Box Manufacturing in India: All States .......Error!
Bookmark not defined.
D.1.3 Clutches................................................................................................................. Error! Bookmark not defined.
Table D.1.3.1(a) Estimated Market Size and Shares for Clutches Manufacturing in India: Alphabetic
ii
Table D.1.3.1(b) Estimated Market Size and Shares Clutches Manufacturing in India: Rank Order by
Sales ....................................................................................Error! Bookmark not defined.
Map D.1.3.1
Clutches Dollar Manufacturing Densities in India......Error! Bookmark not defined.
Table D.1.3.2
Number of Companies Manufacturing Clutches by Dollar Sales Range in India
Chart D.1.3.1
Number of Companies Manufacturing Clutches by Dollar Sales Range in India
Chart D.1.3.2
Estimated Market Shares for Clutches Manufacturing in India: Sales Market Shares
for Top Five Manufacturers ............................................Error! Bookmark not defined.
Chart D.1.3.3
Estimated Market Shares for Clutches Manufacturing in India: Sales Market Shares
for Top Ten Manufacturers .............................................Error! Bookmark not defined.
Table D.1.3.3
Estimated Market Size and Shares for Clutches Manufacturing in India: All States
Chart D.1.3.4
Estimated Market Shares for Clutches Manufacturing in India: All States.........Error!
D.1.4 Axles ....................................................................................................................... Error! Bookmark not defined.
D.1.4.1 Product/Market Overview......................................................................Error ! Bookmark not defined.
Table D.1.4.1(a) Estimated Market Size and Shares for Axles Manufacturing in India: Alphabetic
Table D.1.4.1(b) Estimated Market Size and Shares for Axles Manufacturing in India: Rank Order by
Map D.1.4.1
Axles Dollar Manufacturing Densities in India...........Error! Bookmark not defined.
Table D.1.4.2
Number of Companies Manufacturing Axles by Dollar Sales Range in India ...Error!
Chart D.1.4.1
Number of Companies Manufacturing Axles by Dollar Sales Range in India ...Error!
Chart D.1.4.2
Estimated Market Shares for Axles Manufacturing in India: Sales Market Shares for
Top Five Manufacturers ..................................................Error! Bookmark not defined.
Chart D.1.4.3
Estimated Market Shares for Axles Manufacturing in India: Sales Market Shares for
Top Ten Manufacturers ...................................................Error! Bookmark not defined.
Table D.1.4.3
Estimated Market Size and Shares for Axles Manufacturing in India: All States
Chart D.1.4.4
Estimated Market Shares for Axles Manufacturing in India: All States ..............Error!
D.1.5 Wheels/Wheel Rims ........................................................................................... Error! Bookmark not defined.
Table D.1.5.1(a) Estimated Market Size and Shares for Wheels/Wheel Rims Manufacturing in India:
Table D.1.5.1(b) Estimated Market Size and Shares for Wheels/Wheel Rims Manufacturing in India:
Map D.1.5.1
Wheels/Wheel Rims Dollar Manufacturing Densities in India. Error! Bookmark not
defined.
Table D.1.5.2
Number of Companies Manufacturing Wheels/Wheel Rims by Dollar Sales Range in
Chart D.1.5.1
Number of Companies Manufacturing Wheels/Wheel Rims by Dollar Sales Range in
Chart D.1.5.2
Estimated Market Shares for Wheels/Wheel Rims Manufacturing in India: Sales
Market Shares for Top Five Manufacturers .................Error! Bookmark not defined.
Chart D.1.5.3
Estimated Market Shares for Wheels/Wheel Rims Manufacturing in India: Sales
Market Shares for Top Seven Manufacturers ..............Error! Bookmark not defined.
iii
Table D.1.5.3
Chart D.1.5.4
Estimated Market Size and Shares for Wheels/Wheel Rims Manufacturing in India:
All States ............................................................................Error! Bookmark not defined.
Estimated Market Shares for Wheels/Wheel Rims Manufacturing in India: All States
iv
D.2 Suspension & Braking Parts/Components ..................................................... Error! Bookmark not defined.
D.2.1 Leaf Springs......................................................................................................... Error! Bookmark not defined.
D.2.1.1 Product/Market Overview......................................................................Error! Book mark not defined.
Table D.2.1.1(a) Estimated Market Size and Shares for Leaf Springs Manufacturing in India:
Table D.2.1.1(b) Estimated Market Size and Shares for Leaf Springs Manufacturing in India: Rank
Map D.2.1.1
Leaf Springs Dollar Manufacturing Densities in India .............. Error! Bookmark not
defined.
Table D.2.1.2
Number of Companies Manufacturing Leaf Springs by Dollar Sales Range in India
Chart D.2.1.1
Number of Companies Manufacturing Leaf Springs by Dollar Sales Range in India
Chart D.2.1.2
Estimated Market Shares for Leaf Springs Manufacturing in India: Sales Market
Chart D.2.1.3
Estimated Market Shares for Leaf Springs Manufacturing in India: Sales Market
Shares for Top Eight Manufacturers .............................Error! Bookmark not defined.
Table D.2.1.3
Estimated Market Size and Shares for Leaf Springs Manufacturing in India: All
Chart D.2.1.4
Estimated Market Shares for Leaf Springs Manufacturing in India: All States..Error!
D.2.2 Coil Springs.......................................................................................................... Error! Bookmark not defined.
Table D.2.2.1(a) Estimated Market Size and Shares for Coil Springs Manufacturing in India:
Table D.2.2.1(b) Estimated Market Size and Shares for Coil Springs Manufacturing in India: Rank
Map D.2.2.1
Coil Springs Dollar Manufacturing Densities in India ............... Error! Bookmark not
defined.
Table D.2.2.2
Number of Companies Manufacturing Coil Springs by Dollar Sales Range in India
Chart D.2.2.1
Number of Companies Manufacturing Coil Springs by Dollar Sales Range in India
Chart D.2.2.2
Estimated Market Shares for Coil Springs Manufacturing in India: Sales Market
Chart D.2.2.3
Estimated Market Shares for Coil Springs Manufacturing in India: Sales Market
Shares for Top Ten Manufacturers ................................Error! Bookmark not defined.
Table D.2.2.3
Estimated Market Size and Shares for Coil Springs Manufacturing in India: All
Chart D.2.2.4
Estimated Market Shares for Coil Springs Manufacturing in India: All States ..Error!
D.2.3 Shock Absor bers/Struts .................................................................................... Error! Bookmark not defined.
Table D.2.3.1(a) Estimated Market Size and Shares for Shock Absorbers/Struts Manufacturing in
India: Alphabetic Order ...................................................Error! Bookmark not defined.
Table D.2.3.1(b) Estimated Market Size and Shares for Shock Absorbers/Struts Manufacturing in
India: Rank Order by Sales .............................................Error! Bookmark not defined.
v
Map D.2.3.1
Table D.2.3.2
Chart D.2.3.1
Chart D.2.3.2
Chart D.2.3.3
Table D.2.3.3
Chart D.2.3.4
Shock Absorbers/Struts Dollar Manufacturing Densities in India .. Error! Bookmark
not defined.
Number of Companies Manufacturing Shock Absorbers/Struts by Dollar Sales
Range in India ...................................................................Error! Bookmark not defined.
Number of Companies Manufacturing Shock Absorbers/Struts by Dollar Sales
Estimated Market Shares for Shock Absorbers/Struts Manufacturing in India: Sales
Estimated Market Shares for Shock Absorbers/Struts Manufacturing in India: Sales
Market Shares for Top Eight Manufacturers................Error! Bookmark not defined.
Estimated Market Size and Shares for Shock Absorbers/Struts Manufacturing in
India: All States.................................................................Error! Bookmark not defined.
Estimated Market Shares for Shock Absorbers/Struts Manufacturing in India: All
D.2.4 Brake Assembly (Hydraulics)......................................................................... Error! Bookmark not defined.
Table D.2.4.1(a) Estimated Market Size and Shares for Brake Assembly (Hydraulics) Manufacturing
in India: Alphabetic Order...............................................Error! Bookmark not defined.
Table D.2.4.1(b) Estimated Market Size and Shares for Brake Assembly (Hydraulics) Manufacturing
in India: Rank Order by Sales.........................................Error! Bookmark not defined.
Map D.2.4.1
Brake Assembly (Hydraulics) Dollar Manufacturing Densities in India .............Error!
Table D.2.4.2
Number of Companies Manufacturing Brake Assembly (Hydraulics) by Dollar Sales
Chart D.2.4.1
Number of Companies Manufacturing Brake Assembly (Hydraulics) by Dollar Sales
Chart D.2.4.2
Estimated Market Shares for Brake Assembly (Hydraulics) Manufacturing in India:
Sales Market Shares for Top Five Manufacturers.......Error! Bookmark not defined.
Chart D.2.4.3
Sales Market Shares for Top Six Manufacturers.........Error! Bookmark not defined.
Table D.2.4.3
Estimated Market Size and Shares for Brake Assembly (Hydraulics) Manufacturing
in India: All States ............................................................Error! Bookmark not defined.
Chart D.2.4.4
D.2.5 Break Linings/Pads ............................................................................................ Error! Bookmark not defined.
Table D.2.5.1(a) Estimated Market Size and Shares for Brake Linings/Pads Manufacturing in India:
Table D.2.5.1(b) Estimated Market Size and Shares for Brake Linings/Pads Manufacturing in India:
Map D.2.5.1
Brake Linings/Pads Dollar Manufacturing Densities in India .. Error! Bookmark not
defined.
Table D.2.5.2
Number of Companies Manufacturing Brake Linings/Pads by Dollar Sales Range in
Chart D.2.5.1
Number of Companies Manufacturing Brake Linings/Pads by Dollar Sales Range in
Chart D.2.5.2
Estimated Market Shares for Brake Linings/Pads Manufacturing in India: Sales
Chart D.2.5.3
Estimated Market Shares for Brake Linings/Pads Manufacturing in India: Sales
Market Shares for Top Ten Manufacturers ..................Error! Bookmark not defined.
vi
Table D.2.5.3
Chart D.2.5.4
Estimated Market Size and Shares for Brake Linings/Pads Manufacturing in India:
Estimated Market Shares for Brake Linings/Pads Manufacturing in India: All States
vii
E. MANUFACTURER DATA ..........................................................................................Error! Bookmark not defined.
E.1 Drive Transmission & Steering Parts/Components ..................................... Error! Bookmark not defined.
Table E.1.1
Drive Transmission & Steering Parts Manufacturer Data: Alphabetical Order..Error!
Table E.1.2
Drive Transmission & Steering Parts Manufacturer Data: Rank Order by Dollar
E.2 Suspension & Braking Parts/Components...................................................... Error! Bookmark not defined.
Table E.2.1
Suspension & Braking Parts Manufacturer Data: Alphabetical Order.................Error!
Table E.2.2
Suspension & Braking Parts Manufacturer Data: Rank Order by Dollar Sales ..Error!
F. COMPANY PROFILES................................................................................................Error! Bookmark not defined.
Allied Nippon Limited…………………………...155
Hi-Tech Gears Limited…………………………...254
Amalgamations Repco Limited…………………..159
Jai Parabolic Springs Limited……………………261
Automotive Axles Limited……………………….164
Jamna Auto Industries Limited…………………..266
Axles India Limited................................................170
Kalyani Brakes Limited………………………….272
BCL Springs……………………………………...176
Makino Auto Industries…………………………..280
Bharat Forge Limited…………………………….179
Munjal Showa Limited…………………………...284
Bharat Gears Limited…………………………….187
Rane Brake Linings Limited……………………..291
Brakes India Limited……………………………..194
Rane Madras Limited…………………………….298
Carraro India Limited…………………………….200
Rane TRW Steering Systems Limited…………...304
Ceekay Daikin Limited....………………………..204
Rico Auto Industries Limited…………………….309
Clutch Auto Limited……………………………...210
Sar Auto Products Limited……………………….316
Eicher Demm (Gears Division)…………………..216
Sona Koyo Steering Limited……………………..321
Fairfield Atlas Limited…………………………...222
Steel Strips Wheels Limited……………………...330
Gabriel India Limited…………………………….226
Stumpp, Schuele Somappa Pvt. Ltd……………...334
Gajra Gears Pvt. Limited…………………………232
Sundaram Brake Linings Limited………………..337
GKN Driveline (India) Limited…………………..237
Wheels India Limited…………………………….345
Gujrat Setco Clutch Limited……………………..243
XLO India Limited……………………………….350
Hindustan Composites Limited…………………..248
ZF Steering Gear India Limited………………….355
G. INDUSTRY DATABASE/DIRECTORY OF INDIA’S AUTOMO TIVE & VEHICULAR
PARTS/COMPONENTS MANUFACTURERS
viii
PREFACE
Who is SpecialtyVehicles.net (SVN)?
SVN is a boutique consultancy and business publications firm in the United
States that specializes in providing proprietary business analysis and databases
to the medium/heavy vehicular, component, body, engine and equipment
manufacturing industries worldwide.
With over 25 years of dedicated truck/vehicular industry experience in
corporate development, management consulting and business research, SVN's
principals have developed several pioneering reports on subjects ranging from
buses, truck bodies, specialized vehicles and trailers to components and
accessories.
Key decision-makers regularly subscribe to these reports to assist them in
planning, sales, marketing, financial opinions, acquisitions/mergers and
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For a modest investment in SVN's publications and custom research services,
our clients have achieved profits and derived strategic direction with a payback
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SVN’s forté in medium/heavy vehicular industry knowledge combines with
excellent functional expertise in Finance, Marketing, Market Research,
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Brief profiles of personal capabilities are available at www.specialtyvehicles.net.
By focusing our work only to the medium/heavy vehicular sector, we
provide a unique and dedicated service specific to the needs of the industry.
ii
Introduction
A. INTRODUCTION
A.1 Scope
• This report examines the Indian business of manufacturing auto and
vehicular parts/components for applications ranging from automobiles,
tractors, farm equipments/off-road vehicles (including military vehicles),
railways and industrial machinery.
• The study is a “one-time” picture of the industry structure with the key
objective of identifying who is in the business, their estimated unit and
dollar revenue from the activity, overall competitive shares and broad
features underlying the nature of the industry.
• No prior market data exists on numerous segments of the Indian OE auto
and vehicular component industry, particularly concerning estimates of new
production, players, shares and broad industry profile. SVN’s efforts seek to
fill this gap through dedicated efforts focused on providing an understanding
of the specialty manufacturing industry, at its micro-segment and specific
product levels.
• Our research focus is on approximate sizing of the market for components
covered in this report and understanding of the current industry structure.
A.2 Methodology
• A thorough search and identification of public domain information, based on
identifying and contacting sources such as trade associations, government
sources, trade press, newsletters, existing available research reports, internetbased research and any other source commonly classified as “secondary
information.”
• Detailed interviews, either personal or telephone, with most major
manufacturers in the industry, commonly known as “primary methods.”
• An exhaustive survey of the product literature, annual reports and any other
readily available company information.
• Existing analytical capability and proprietary information from SVN’s prior
and on-going work in medium/heavy-duty vehicular markets. The authors of
this report have worked on numerous research projects and consultancy
1
Introduction
assignments for major companies in the vehicular, component, body and
equipment industries and have developed familiarity with many of the
important issues affecting the overall industry.
A.3 Statistics and Limitations
• Estimates of the market size are based on manufacturers’ factory productioncum-sales indications found through interviews and public domain sources.
A 70% explanation of the units and value of the market is endeavored for.
Manufacturers that collectively represent 70% of the industry activity are
covered; the remainder may fall into an “others” category.
• Profiles of manufacturers contain information that substantially enhances the
Product/Market Overview and Market Size & Competitive Structure &
Shares discussions, and for this reason, key profiles are regarded as
essential for substantiating the entire research inquiry.
• A company’s sales from public domain sources reflect total sales, not sales
of the product type under discussion. The estimations provided by SVN
adjust the data to relate to, and reflect sales only for the specific
component under discussion; however, it is possible that sales may
sometimes be “out of synch” with unit numbers, especially since a price-tounit averaging is attempted. Likewise, total employees and plant square
footage are for the company as a whole, unless specifically stated otherwise.
Other products, besides the subject product, are most often manufactured in
the same plant. Total employee numbers and plant size are not adjusted to
conform to the specific product type, unless available.
• Whenever adjustments are made, they are derived from a combination of
average pricing, ratios and quite simply, by a “sense and feel” for what the
sales and employee estimations ought to be on the basis of product mix,
resulting average pricing, comparison with other “like” companies, etc.
Regional breakdowns are tracked by manufacturer’s plant location and are
not necessarily equal to the region market size. Since much of this business
is at local/regional level, regional breakdowns give at least an idea of the
level of production for manufacturers located in a particular area. The region
tables are to be interpreted as share of production and not share of market.
• Despite the extensive amount of work done, the reporting of market research
based information is a very inexact science. A published report of this matter
2
Introduction
can only seek to provide a broad-based “sweep.” Clients seeking
information beyond the scope and price of the material here, should
consider project work customized to their needs.
• While SVN will respond to any corrections, verifications, deletions or
additions, no responsibility whatsoever is accepted for any omissions or
inaccuracies appearing in this report, or for any consequences arising
therefrom.
3
Executive Summary
B. EXECUTIVE SUMMARY
B.1 Product/Market Overview
The drive transmission and steering parts manufacturing in India is an
important segment with regards to vehicle manufacturing/assembly. The
segment is characterized by a mix of imports (of certain critical parts) as well as
a high degree of localization and indiginization. Imports of drive transmission
and steering parts constitute about X% of total auto components imported into
India. These parts are imported directly by OEMs for their captive usage during
module/vehicle assembly.
Otherwise, the manufacturing space in drive transmission and steering
parts is dominated by Indian companies. However, market leaders have
technology agreements/joint ventures with global market leaders in particular
sub-segments of drive transmission and steering part components, in order to
get access to the most advanced technologies...
Fifty-six key companies have been identified for the indigenous
manufacture of drive transmission and steering parts as a broad category
classification…
Forty-two companies have been identified that manufacture suspension
and braking parts as a broad category classification. Further, we have identified
a significant number of the small-scale manufacturers…
4
Executive Summary
B.1.1 Drive Transmission and Steering Parts/Components
Transmission systems (clutch, gear box and axles) transmit power
generated from the engine to the drive axle. Currently most passenger cars,
utility vehicles, commercial vehicles and off-road vehicles in India have manual
transmissions. It is important to note that the over-riding factor, which is of
immense importance vis-à-vis consumers’ decisions about passenger vehicles,
is “fuel economy.” Though the luxury/premium cars have automatic
transmissions, they constitute a very small proportion of the overall passenger
vehicle population in India. Steering systems (steering wheel, shafts, columns,
gears, wheels and suspension and steering linkages) on the other hand are used
for guiding the vehicle in a straight line motion. In India, steering systems used
for passenger vehicles as well as commercial vehicles are either manual or
power steering. However, with the consumer behavioral shift “towards driving
comfort,” power steering systems are fast overtaking the manual steering
systems…
Armed with the latest technology and most importantly, the pre-requisite
QCDDM equation (Quality, Cost, Delivery, Development and Management),
most of the major players in India have lately revised their “Business Revenue
Models,” with emphasis on organic growth through expanding their current
product portfolios and R&D-based new product development, as well as
external growth through acquisition, not just within India but also globally…
B.1.2 Suspension and Braking Parts/Components
Braking systems (brake assembly and brake linings/pads) are used as
energy conversion devices to bring a vehicle to a halt. Currently all the
passenger cars in India have dual brake systems. Suspension systems (leaf
springs and coil springs), on the other hand, are used for supporting the vehicle
chassis at each of the wheels. In India, springs used for passenger cars, as well
as commercial vehicle suspensions, are of different types…
5
Executive Summary
B.2 Market Analysis & Developments
B.2.1 Drive Transmission & Steering Parts/Components
Table B.1 and Chart B.1 below show the size of the drive transmission
and steering parts industry in India by each segment.
Table B.1
Estimated Size of the Drive Transmission & Steering Parts
Manufacturing Industry in India
SEGMENT
SALES
VALUE
($ MIL)
UNITS *
SALES
SHARE IN
TOTAL
(%)
Drive Transmission & Steering Parts
-
*
- Steering Systems (Shafts, Columns & Gears)
XXXXXX
XXX
XX.X%
- Gear Box (Transmission Gears & Shafts)
XXXXXX
XXX
XX.X%
- Clutches (Assemblies & Clutch Plates)
XXXXXX
XXX
XX.X%
- Axles (Assemblies & Shafts)
XXXXXX
XXX
XX.X%
- Wheels/Wheel Rims
XXXXXX
XXX
XX.X%
- Other Drive Transmission & Steering Parts
XXXXXX
XXX
XX.X%
TOTAL : DRIVE TRANSMISSION & STEERING PARTS
XXX
XX.X%
Other Drive Transmission & Steering Parts includes Tie Rod Ends/Parts, Misc. Transmission Parts, Axle Front Stub/Bar,
Front Axles (Tractors), Axle Studs, Propeller Shafts, Universal Joint Cross Assemblies, Constant Velocity Joints, Axle
Studs, King Pins & Repair Kits, Oils Seals, Hubs & Components, Control Cables, Synchrocones & Synchronizer Rings etc.
Units data availability is for mainly the top 3 - 5 manufacturer in a particular sub-segment.
Chart B.1
Estimated Dollar Sales for Drive Transmission & Steering Parts
Manufacturing in India by Specific Segment
Steering
Systems
19.5%
Others
12.9%
Wheels/Wheel
Rims
14.3%
Gear Box
22.3%
Axles
22.9%
Clutches
8.1%
6
Executive Summary
Of the total industry size, estimated at $XXX million in terms of annual
dollar sales, the steering systems sub-segment (including shafts, columns, gears
and other steering system parts like suspension and steering linkages, etc.)
accounts for $XXX million; the gear box sub-segment (including transmission
gears and shafts) constitutes $XXX million; the clutch sub-segment (including
assemblies and clutch plates) constitutes $XXX million; axles (including
assemblies and shafts) constitute $XXX million; wheels/wheel rims constitute
$XXX million; and other suspension and braking parts (comprising of tie rod
ends/parts, miscellaneous transmission parts, axle front stub/bars, front axles
(tractors), axle studs, propeller shafts, universal joint cross assemblies, constant
velocity joints, axle studs, king pins and repair kits, oil seals, hubs and
components, control cables, synchrocones and synchronizers, etc.) constitute
$XXX million.
In the drive transmission and steering parts segment, steering systems
contribute 19.5%, gear boxes contribute 22.3%, clutches contribute 8.1%, axles
contribute 22.9%, wheels/wheel rims contribute 14.3% and other parts
contribute 12.9% of the annual dollar sales of the segment, as shown in
Chart B.1.
XXXXXXX, which manufactures wheels/wheel rims, is the leader in the
drive transmission and steering parts segment. XXXXXXX and XXXXXXX,
which manufacture steering systems and axle assemblies respectively, are
ranked next in terms of annual dollar sales. Together, these three companies
contribute XX.X% of the annual dollar sales of the drive transmission and
steering parts manufacturers. The top 10 manufacturers in the suspension and
braking parts segment contribute XX.X% of the annual sales, as shown in Table
B.4.
Tables B.3 and B.5 shows the numbers of companies according to dollar
sales range in the drive transmission and steering parts segment respectively.
Charts B.4 and B.5 show the same information graphically…
B.2.2 Suspension & Braking Parts/Components
Table B.4 shows the size of the suspension and braking parts industry in
India by each segment…
7
Executive Summary
B.3 Market Size, Competitive Structure & Shares
B.3.1 Drive Transmission & Steering Parts/Components
The performance of drive transmission and steering parts segment in
India, in the last ten years has been a mixed one – coupled with huge upswings
and a few minor downturns
The market leader in India for:
• Steering Systems sub-segment is XXXXXX, with a market share of
XX.X%.
• Gear Box sub-segment is XXXXXX, with a market share of XX.X%.
• Clutches sub-segment is XXXXXX, with a market share of about XX.X%.
• Axles is XXXXXX, with a market share of XX.X%.
• Wheels/wheel rims sub-segment is XXXXXX, with a market share of about
XX.X%.
B.3.2 Suspension & Braking Parts/Components
…The market leader in India for:
• Leaf Springs sub-segment is XXXXXX, with a market share of XX%.
• Coil Springs sub-segment is XXXXXX, with a market share of XX%.
• Shock Absorbers/Struts sub-segment is XXXXXX, with a market share of
about XX%
• Brake Assembly (Hydraulics) is XXXXXX, with a market share of XX%.
• Brake Linings/Pads sub-segment is XXXXXX, with a market share of about
XX%.
8
Industry Overview
C. INDUSTRY OVERVIEW
C.1 Drive Transmission & Steering Parts/Components
In this section, information from each of the segment discussed in this
report has been combined to present a comprehensive tabular overview of the
drive transmission and steering parts manufacturing industry in India.
Table C.1.1(a) is the tabulation of the 56 identified companies
manufacturing drive transmission and steering parts in alphabetic order. Table
C.1.1(b) is the tabulation of the same companies in rank order of annual dollar
sales…
Table C.2 breaks out the total industry dollars of each manufacturer by
each product category. Table C.2(a) presents this data in alphabetical order of
companies and Table C.2(b) in rank order of dollar sales.
C.2 Suspension & Braking Parts/Components
In this section, information from each of the segment discussed in this
report has been combined to present a comprehensive tabular overview of the
suspension and braking parts manufacturing industry in India.
Table C.2.1(a) is the tabulation of the 42 identified companies
manufacturing suspension and braking parts in alphabetic order. Table C.2.1(b)
is the tabulation of the same companies in rank order of annual dollar sales…
Tables C.2.2(a) and C.2.2(b) breaks out the total industry dollars of each
manufacturer by each product category. Table C.2.2(a) presents this data in
alphabetical order of companies and Table C.2.2(b) in rank order of dollar sales.
9
Analysis by Application/Type
Drive Transmission & Steering Parts/Components: Steering Systems
D. ANALYSIS BY SEGMENT
D.1.1 Steering Systems
D.1.1.1 Product/Market Overview
• The main demand for steering systems assemblies in India is generated from
the automobile industry (particularly passenger vehicles and commercial
vehicles), farm equipment, and industrial/off-road vehicles (including
military vehicles).
• The Indian steering systems sub-segment is characterized by...
D.1.1.2 Market Analysis & Developments
• The cyclical nature of the Domestic Commercial Vehicle Industry and a
slowdown in the domestic passenger car and multi utility vehicle industry
does impact the Indian steering systems sub-segment. However the strong
performance by the CV as well as the passenger car and utility vehicle
industry in the last couple of years has augured well for the steering systems
sub-segment. The overall sub-segment production (in value terms) is
estimated to have grown by nearly XX% in the year 2003 - 04, as compared
to the previous year…
D.1.1.3 Market Size & Competitive Structure & Shares
• Around $111.62 million worth steering systems (excluding the ‘Others’
product sub-segment category, which is estimated to contribute about $50.02
million in annual sales) is estimated to be manufactured annually in India, as
shown in Table D.1.1.1(a) in alphabetic order by company name and Table
D.1.1.1(b) by rank order of product sales.
10
Table D.1.1.1(a)
Estimated Market Size and Shares for Steering Systems Manufacturing in
India
Alphabetic Order
LOCATION
EST.
EST.
SALES
MARKET
PRODUCT
SHARE
COMPANY
CITY
ST
($ MIL)
Rane (Madras) Ltd.
Chennai
TN
20.96
13.0%
Rane TRW Steering Systems
Chennai
TN
18.43
11.4%
Sar Auto Products Ltd.
Rajkot
GUJ
1.45
0.9%
Sona Koyo Steering Systems Ltd. Gurgaon
HR
36.96
22.9%
XLO India Ltd.
Mumbai
MAH
4.30
2.7%
ZF Steering Gear (I) Ltd.
Pune
MAH
29.51
18.3%
TOTAL IDENTIFIED
111.62
69.1%
OTHERS
50.02
30.9%
TOTAL
161.64
100.0%
Other Steering Systems parts include Steering Gear Parts, Steering Gear (Power),
Steering Gear (Manual), Steering Wheels, Steering & Suspension Linkage Parts.
Table D.1.1.1(b)
India
Rank Order by Sales
LOCATION
RANK
1
2
3
4
5
6
COMPANY
Sona Koyo Steering Systems Ltd.
ZF Steering Gear (I) Ltd.
Rane (Madras) Ltd.
Rane TRW Steering Systems
XLO India Ltd.
Sar Auto Products Ltd.
EST. SALES
EST.
CUMUL
PRODUCT MARKET ATIVE
CITY
ST
($ MIL)
SHARE
%
Gurgaon
HR
36.96
22.9%
22.9%
Pune
MAH
29.51
18.3%
41.1%
Chennai
TN
20.96
13.0%
54.1%
Chennai
TN
18.43
11.4%
65.5%
Mumbai
MAH
4.30
2.7%
68.2%
Rajkot
GUJ
1.45
0.9%
69.1%
TOTAL IDENTIFIED
111.62
69.1%
69.1%
11
OTHERS
50.02
30.9%
TOTAL
161.64
100.0%
100.0%
Table D.1.1.2
Number of Companies Manufacturing Steering Systems by Dollar Sales
Range in India
COMPANIES
NUMBER OF
MANUFACTURING
COMPANIES
$10.00 to $49.99 Million
4
$5.00 to $9.99 Million
0
$1.00 to $4.99 Million
2
Under $1 Million
0
TOTALS
6
%
66.7%
0.0%
33.3%
0.0%
100.0%
Chart D.1.1.1
Number of Companies Manufacturing Steering Systems by Dollar Sales
Range in India
$1.00 to
$4.99
Million
33.3%
$10.00 to
$49.99
Million
66.7%
12
Chart D.1.1.2
Estimated Market Shares for Steering Systems Manufacturing in India
Sales Market Shares for Top Five Manufacturers
Sona Koyo
Steering
Systems
Ltd.
22.9%
Others
31.8%
XLO India
Ltd.
2.7%
Rane TRW
Steering
Systems
11.4%
Rane
(Madras)
Ltd.
13.0%
ZF Steering
Gear (I) Ltd.
18.3%
Chart D.1.1.3
Sales Market Shares for Top Six Manufacturers
Sar Auto
Products
Ltd.
0.9%
XLO India
Ltd.
2.7%
Others
30.9%
Rane TRW
Steering
Systems
11.4%
Sona Koyo
Steering
Systems
Ltd.
22.9%
Rane
(Madras)
Ltd.
13.0%
13
ZF Steering
Gear (I) Ltd.
18.3%
Table D.1.1.3
India
All States
EST. SALES
EST.
FOR STATE SHARE
STATE
($ MIL)
%
Tamil Nadu
39.40
24.4%
Haryana
36.96
22.9%
Maharasthra
33.81
20.9%
Gujrat
1.45
0.9%
TOTAL IDENTIFIED
111.62
69.1%
OTHERS
50.02
30.9%
TOTAL
161.64
100.0%
Chart D.1.1.4
All States
Others
30.9%
Tamil Nadu
24.4%
Gujrat
0.9%
Haryana
22.9%
Maharasthr
a
20.9%
14
Company Profiles
F. STRATEGIC COMPANY PROFILES
15
Company Profiles
Amalgamations Repco Ltd.
Segment: Clutches
AMALGAMATIONS REPCO LTD.
Street Address
J ' Gardens, G.N.T. Road
City, State/Province, Postal Code
Chennai, Tamil Nadu, 600 110
Country
India
Telephone
+91 044-25580909, 25581765, 25518769
Fax
+91 044-25582075
Website
http://www.amalgamationsgroup.com
Status/Symbol/Exchange
Public, AMREP 40093, Chennai Stock Exchange
Date Established
1970
Est. Employees
115
Est. Sales US Dollars (Millions)
5.16 (2004)
Est. Sales Rupees (Millions)
242.70 (2004)
Quality Standards and Certifications
ISO 9001
Product Categories
ü
ü
Clutch driven plates
Clutch cover assemblies and Kits &
components thereof
Markets/Applications
Automotive
Total Capital Rupees (Millions)
120.03 (2003)
Major Customers
Domestic OEM’s
Ashok Leyland Ltd., Tractors and Farms
Equipment Ltd. Eicher Tractors Ltd., Bajaj
Tempo Ltd., Mahindra & Mahindra Ltd.
Domestic Tiers
International OEM’s
International Tiers
Key Executives
Mr. A. Krishnamoorthy, Chairman
Collaborations/Licenses/Liaisons/
Joint Ventures
-
Contact e -mail
amrep@satyam.net.in
16
Company Profiles
Segment: Clutches
Profile
Credentials
It’s among the leading clutch manufacturer with product application in
commercial vehicles and tractors, for nearly the last four decades
Focus Areas
Clutch Cover Assemblies, Clutch Driven Plates, and Kits & components thereof
Geographical
Spread
India, aftermarket sales to Sri Lanka, Malaysia, Singapore, Mid East
and South Africa
Strengths
Technical know-how from Repco Ltd., Australia. State Transport Undertakings &
government contribute significantly share of sales, a very reputed brand in the
aftermarket. State-of-the-art plant & machinery. In-house R&D facilities, which
include computer aided quality rigs
Weakness
Sales are primarily driven by Commercial Vehicles and Tractor segment – the
operating environment for both is guided by cyclical demands
Major Competitors Clutch Auto, Ceekay Daikin
Promotion Mix
Participation at National & International Auto Exhibitions
Strategies
Internal cost control& reduction
Further penetration into the aftermarket
R&D driven performance improvements
Export geographies spread - to be evaluated
Fiscal Year
Apr to Mar
Group Companies
Product Portfolio
AMALGAMATIONS
GROUP
Clutches (CV’s &
Tractors)
Clutch Cover Assemblies
AMALGAMATIONS
REPCO LTD.
Clutch Driven Plates
ISO 9001
Kits & Components
Limited Co.
thereof
Public Ltd. Co.
Clutch Cover
Assemblies, Clutch
Driven Plates, Kits
& components
thereof
17
Company Profiles
Segment: Clutches
News & Developments
Simpson to buy public stake in
Amalgamations Repco
Simpson to buy public stake in
Amalgamations Repco continued
(Source: Times News Network ,
Tuesday, 20th April’2004)
Trading in Amrep shares is
infrequent with the last trading on
MSE recorded in May 2001.
Company sources told ET that of
the five lakh shares of Rs 10 each
(Rs 50 lakh equity), promoters
hold 3,91,950 shares. Amrep had
reserves of Rs 10.55 crore as on
March 31, 2003. The EPS
worked out to Rs 12.68.
Promoters of the Chennai-based
Rs 2,500-crore Amalgamations
Group plan to mop up the
public’s stake in Amalgamations
Repco (Amrep) through the
book-building process and also
go for delisting of the rarely
traded shares on the Madras
Stock Exchange.
Amrep and the closely- held
Amalgamations
Valeo
manufacture clutch products to
the tune of Rs 80 - 90 crore a
year, servicing both OEMs and
replacement.
They
have
intensified exports with group
support.
Along with delisting, the
promoters propose to pick up the
balance stake in the hands of
public through a reverse bookbuilding process. The pricing will
be decided based on the quotes
received. After the EGM, the
company will appoint a merchant
banker and open the offer by May
end.
In a notice to shareholders on the
EGM convened in Chennai on
May 6, 2004, Amrep has said
that Simpson & Co, one of the
promoters, intended to acquire
further shares for which Amrep
has to comply with the guidelines
for
delisting
on
MSE.
At the last AGM held in August
2003, the company got the
members’ approval to include a
provision in the Articles of
Association for buyback of its
own shares and make the
payment for such shares which
shall be extinguished.
18
Company Profiles
Segment: Clutches
Sales Analysis
Sales Breakdown by Geographic Region (Rs in Millions)
REGION
INDIA
SALES
FY 03 – 04
(Rs in Mill)
% Share
Sales Breakdown - Geographic Region-wise
239.06
98.5%
Exports
1.5%
3.64
1.5%
242.70
100.0%
EXPORTS
TOTAL
India
98.5%
Major Players in the Indian Clutch Segment
Product Sales
FY 03 – 04
(Rs in Mill)
Market
Share (%)
Clutch Auto Ltd.
820.10
26.0%
Ceekay Daikin Ltd.
Gujrat Setco Clutch
Ltd.
Rico Auto Industries
Ltd.
Amalgamations Repco
Ltd.
783.88
24.8%
513.00
16.3%
261.25
8.3%
242.70
7.7%
Allied Nippon Ltd.
201.34
6.4%
Makino Auto Industries
61.62
2.0%
Others
271.09
8.6%
Company
Major Players - Clucth Segment Market Share %
Allied
Nippon Ltd.
6.4%
Amalgamati
ons Repco
Ltd.
7.7%
Financial Analysis
Trends for Gross Sales in Rs Millions
450
243
237
01~02
02~03
242
300
150
0
Makino
Auto
Industries
2.0%
03~04
19
Others
8.6%
Rico Auto
Industries
Ltd.
8.3%
Clutch Auto
Ltd.
26.0%
Gujarat
Setco
Clutch Ltd.
16.3%
Ceekay
Diakin Ltd.
24.8%
Company Profiles
Segment: Clutches
Strategic Position
GROWTH STRATEGIES FOR FUTURE
ü
Internal cost reduction
o
o
o
ü
Further after market penetration
o
o
ü
Make further in-roads into the
domestic aftermarket segment – thru
improving product performance &
internal cost control
After market focus to be the key diver
for future growth
R&D driven performance improvement
o
o
o
o
ü
Process driven improvements for
eliminating waste
Technology Up-gradation
Improving efficiency levels (machine
utilization etc)
Low cost automation in certain
manufacturing processes
Higher Transmission efficiency
Improve life expectancy for clutch
life
New technology adoption &
absorption with adequate manpower
training
Export geographies spread - evaluation
o
Exploring potential for CV’s as well
as Tractors after market supplies
current range/design of produc ts
20
BHARAT FORGE LTD.
India Operations
German Operations
Directory of Auto/Vehicular Component Manufacturers
Street Address
Mundhwa
Pune, Maharashtra, 411 036
Country
India
Telephone
+91 020-6871666
Fax
+91 020-6872525
Website
http://www.bharatforege.com
Public,BHARAT FORGE, 500493, Bombay Stock Exchange
Date Established
1966
Est. Employees
2,581
181.09 (2004)
8,511.40 (2004)
ISO 9002, QS 9000
Product Categories
Steel forgings and Machined components including
ü
ü
ü
ü
Crankshafts
Front axles
Steering knuckles
Camshafts
Automotive
5,615.99 (2003)
Major Customers
Domestic OEM’s
Tata Motors Ltd., Ashok Leyland Ltd., Mahindra &
Mahindra Ltd., Bajaj Tempo Ltd., Escorts Ltd.
Domestic Tiers
Amul Industries Ltd., Toyota Kirloskar Auto Parts Ltd.,
Karin India, Automotive Axl es Ltd.
Daimler Chrysler, Germany and RVI, France.
International Tiers
Meritor, Dana CVS , USA.
Key Executives
Mr. B N Kalyani, Chairman & MD
Collaborations/Licenses/Liaisons/Joint Ventures
Metalart Corp., Japan
Contact e-mail
jtarapor@bharatforge.com
21
Vision
Mission
ü Our objective is to be a lean organization that
drives revenue through greater exports and
higher value added products, and profits
through sustained cost reduction.
ü We will increase revenues and decrease costs
through even greater emphasis on IT, and by
leveraging our strengths in design and
technology to considerably compress
development time and create the best ‘Speed to
Market’ standard in the industry
ü To be among the top three global players
worldwide in chosen activity
ü To aggressively grow business by accessing
global markets
ü To work closely with our customers to meet
and exceed their demand, thereby ensuring
Total Customer Satisfaction through
excellence in product quality, response time
and price competitiveness
Profile
Credentials
It is the second largest forging conglomerate in the world, and the largest forging
manufacturer in India. Besides forging, the company is also amongst the leading players in
various other sub-segments of the Indian auto component industry
Focus Areas
CV Engine & Chassis Components, Passenger Car Engine & Chassis Components,
Heavy Engineering Products, Railways, Diesel Engines, Oil & Gas Sector
Geographical Spread India, Asia, Europe & USA
Strengths
Self developed world class technology, Elaborate product profile, Global OEM Customer
Base, Plant approvals from Global OEM, #1 CV Chassis component manufacturer Best
practices in Human Resource Development, Technological capability, Cost Competitiveness,
De-risked business model & Global presence
Weakness
-
Major Competitors
Forgings - , Axles - Automotive Axles
Promotion Mix
Participation at National & International Auto Exhibitions
Strategies
Consolidation of India & Global Operations thru Capacity Expansions, Strategic Tie-ups for
Growth, Capability Diversification
Fiscal Year
Apr to Mar
Product Portfolio
Closed Die Forging
Open Die Forging
Crank Sh aft
Sugar Industry
Connecting Rod
Steel Plant
Gear Assembly
Mining
Rocker Arm
Ship Building
Front Axle Beam
Cement Industry
Steering Knuckle
Forging Industry
Transmission Parts
Material handling
Hubs
Forging Industry
22
Group Companies
KALYANI GROUP
BHARAT
FORGE
KALYANI
BRAKES
AUTOMOTIVE
AXLES
CDP
BHARAT
FORGE
ISO 9002
QS 9000
Public Ltd Co.
Forged & Machined
Components
KALYANI
LEMMERZ
Kalyani Steels
Kalyani Carpenter
Secial Steels
QS 9000
ISO TS 16949
100% Equity
Investment –
Subsidiary of
Bharat Forge
Forged Steel
Components &
Systems
SPECIALITY
MANUFACTURI
NG
Hikal Chemicals
Kalyani Thermal
Public Ltd Co.
Public Ltd Co.
Axle assemblies
Air and Hydraulic
Brake assemblies
& Automotive
Gears
Air & Hydraulic
activated Brake
assemblies
SPECILAITY
STEELS
Wheels
SERVICES
BF Utilities Synise
Technologies
Epicenter
Historical Perspective
1961-1990
Start &
Early Growth
o Company founded
– Technical
agreement with
SIFCO, USA for
hammer forging
technology
o Technical
agreement with
Tokyo Drop
Forge, Japan for
improving current
hammer
technology
o Operations mainly
focused on
attaining domestic
leadership
o Exports started to
erstwhile Soviet
Union
o Technical
agreement with
Jodosha Buhin
Kogyo, Japan for
machining front
1997-2002
1990-1997
o
o
o
o
o
Global
Leadership
Exports
Focus
Domestic Leadership
o
2002 ….
Modern Press
Forging Technology
used for regular
production
Facility up gradation
at Weingarten,
Germany for screw
press lines
ISO 9002 Complaint
Emerged as a leader
in the domestic
market
Exports started to
North American
Commercial Vehicle
Market
Technical agreement
with Metalart
Corporation, Japan
for small forgings
o
o
o
o
o
23
Capacity
Enhancement –
By expansion of
the current
modern forging
technology
New facilities
addition for
Crankshafts,
front axle beams
and heavy
steering
knuckles
Exports
geographies
expansion to
USA, Europe &
China
M&A – strategic
business
acquisition deal
Consolidated
leadership in the
Domestic &
International
markets
o
o
o
Focus on:
o Global
markets
o Diverse
Sectors
Presence across
different
geographies thru
acquisitions: CDP
Germany, thus
making Bharat
Forge the second
largest forging
conglomerate in
the world
Major Capacity
expansion drive –
to meet the
demands in the
global markets
News & Developments
Bharat Forge may shape
new firm for China Entry
Business Standard
– 22 November
2004
Global trends favour
sourcing components
The Herald – 31
December 2004
People to People
Integration crucial in
M&A’s : Kalyani
Economic Times –
30 September
2004
Forging Ahead
Business Standard
– 27 December
2004
Cranking it higher
Business Today –
12 September
2004
Bharat Forge buys its 2nd
German company
Economic Times –
16 December 2004
Bharat Forge to finalize
China plan by March next
Economic Times –
30 July 2004
Bharat Forge acquires CDP
Aluminiumtechnik
Sakal – 14
December 2004
Manufacturing - from
revival to leadership
Financial Express
– 30 June 2004
Bharat Forge eyes US,
China
Financial Express
– 12 December
2004
Bharat Forge to infuse Rs
350 crore for expansion
Financial Express
– 17 May 2004
Bharat Forge acquires
German firm for $ 8.39
million
Times of India,
Pune
Bharat Forge eyes world’s
Top Spot
Financial Express
– 6 April 2004
Economic Times –
11 December 2004
Bharat Forge – European
Ambitions
Business World –
29 March 2004
German aluminum forgings
maker
German firm CDP AT
Financial Express
Enter the Dragon
Smart Manager –
Jan-Mar 2004,
Volume 3, Issue 1
Bharat Forge - From Pune
to Peddinghaus
Bharat Forge plans to raise
US $ 300 from
International Markets to
fund long-term business
plans
Business Today –
Collectors Edition,
Volume 1, 2004
24
Economic Times –
02 March 2005
Financial Analysis
Trends for Net Sales in Rs Millions
Trends for Gross Sales in Rs Millions
7,500
10,000
8,511
10,000
7,205
6,955
5,116
4,830
7,500
4,642
4,232
5,000
5,000
2,500
2,500
0
99~00
00~01
01~02
02~03
5,493
4,374
3,876
0
03~04
99~00
00~01
01~02
02~03
03~04
Trends for Exports in Rs Millions
4,000
3,255
2,714
3,000
2,000
1,191
1,133
1,035
1,000
0
99~00
00~01
01~02
02~03
03~04
Trends for Operating Margins in percenatge
Trends for ROCE (Return on Capital
Employed) in percetage
37.5%
32.0%
27.2%
30.0%
28.0%
26.0%
24.0%
22.0%
99~00
25.8%
26.7%
30.2%
40.0%
29.3%
30.0%
28.5%
16.0%
15.0%
99~00
00~01
20.0%
14.8%
10.0%
0.0%
00~01
01~02
02~03
03~04
Trends for PBDIT (Profit Before
Depreciation, Interest, Tax) in Rs Millions
01~02
02~03
Trends for PBT
(Profit Before Tax in Rs Millions)
2,462
2,500
2,000
1,486
1,350
1,113
1,500
1,143
1,000
1,000
745
380
300
00~01
01~02
500
500
0
0
99~00
00~01
01~02
02~03
03~04
30.0% 21.4%
20.0%
23.6%
99~00
02~03
03~04
Trends for PBT Margins
(Profit Before Tax in percentage)
Trends for PBIT Margins
(Profit Before Income, Tax in
percentage)
17.3%
20.0%
23.9%
15.0%
17.4% 17.6%
20.0%
12.7%
10.0%
10.0%
0.0%
1,681
2,000
1,939
1,500
03~04
5.4%
7.0%
5.0%
0.0%
99~00
00~01
01~02
02~03
03~04
25
99~00
00~01
01~02
02~03
03~04
Sales Analysis
Sales Revenue by Category
Product
Sales
FY 03 – 04
(Rs in Millions)
% of
Total
Sales
Steel Forging
3,804.59
44.7%
Crankshaft (Machined)
2,264.03
26.6%
Axles
1,372.03
16.1%
Transmission Parts
535.36
6.3%
General Eng Equip. (Rlys,
Diesel Engines, Oil &
Gas)
342.15
4.0%
Aluminum Wheel
Total
Category-wise: Sales Revenue (Rs in Mill) & %
Share
Transmission
Parts,
535.36, 6.3%
General Engg
Equip,
342.15, 4.0%
Aluminium
Wheel,
193.2, 2.3%
Steel
Axles,
1372.03,
16.1%
193.20
2.3%
8,511.40
100.0%
Forging,
3804.59,
44.7%
Crankshaft
(Machined)
2264.03,
26.6%
Sales Breakdown by Geographic Region (Rs in Millions)
% Share
SALES
FY 03 – 04
(Rs in Mill)
REGION
INDIA
5,256.40
61.7%
USA
1,432.20
16.8%
Asia
1,041.60
12.2%
Sales Breakdown - Geographic Region-wise
Asia
12.2%
Europe
9.3%
India
61.7%
USA
16.8%
Europe
781.20
9.3%
TOTAL
8,511.40
100.0%
Sales Breakdown by Geographic Region
Exports Market Revenue Mix (% Share) for FY 02
Europe Asia
7.0% 2.0%
Exports Market Revenue Mix (% Share for FY 03
Asia
25.0%
Dana, Oil
& Gas
21.0%
USA
25.0%
Asia
35.0%
USA
49.0%
Europe
8.0%
USA
70.0%
Exports Market Revenue Mix (% Share for FY 04
Dana, Oil
& Gas
18.0%
26
Europe
17.0%
Dana, Oil
& Gas
23.0%
Product Specific Analysis
Major Players In The Indian Transmission Gears Segment
Product Sales
FY 03 – 04
(Rs in Mill)
Market
Share (%)
Bharat Gears Ltd.
1,168.63
13.5%
Hi-Tech Gears Ltd.
1,041.60
12.0%
Company
Gajra Gears Pvt. Ltd.
Eicher Demm (A Unit of
Eicher Ltd.)
870.50
10.0%
558.36
6.4%
Bharat Forge Ltd
535.36
6.2%
Fairfield Atlas
489.59
5.6%
Sona Koyo Steering Systems
Ltd.
467.21
5.4%
3,553.61
40.9%
Others
Major Players - Transmission Gears Segment Market
Share %
Bharat Gears
Ltd.
13.5%
Others
40.9%
Hi-Tech
Gears Ltd.
12.0%
Gajra Gears
Pvt. Ltd.
10.0%
Sona Koyo
Steering
Systems Ltd.
5.4%
Fairfield Atlas
Ltd.
5.6%
Eicher Demm
(A Unit of
Eicher Ltd.)
6.4%
Bharat Forge
Ltd
6.2%
Major Players in the Indian Axles Segment
Product Sales
FY 03 – 04
(Rs in Mill)
Market
Share (%)
Automotive Axles Ltd
2,613.11
29.3%
GKN Drive Shafts (India) Ltd
1,819.45
20.4%
Bharat Forge Ltd
1,372.03
15.4%
Axles India Ltd
1,156.91
13.0%
Sona Koyo Steering Systems
Ltd
664.71
7.5%
Carraro India Ltd
420.75
4.7%
Others
865.77
9.7%
Company
Major Players - Axles Segment Market Share %
Carraro India
Ltd.
4.7%
Automotive
Axles
29.3%
Others
9.7%
Sona Koyo
Steering
Systems Ltd.
7.5%
Axles India
Ltd.
13.0%
Bharat Forge
Ltd
15.4%
GKN
Driveline
(India) Ltd.
20.4%
Major Players in the Indian Wheels/Wheel Rims Segment
Company
Product Sales
FY 03 – 04
(Rs in Mill)
Market
Share (%)
Wheels India Ltd.
93.24
78.4%
Steel Strips Wheel
Ltd.
9.53
8.0%
Adeep Locks Ltd.
5.11
4.3%
Kiran Udyog
4.31
3.6%
4.01
3.4%
2.70
2.3%
Bharat Forge Ltd.
Others
Major Players - Wheels/Wheel Rims Segment Market
Share %
Adeep Locks
Ltd.
4.3%
Steel Strips
Wheel Ltd.
8.0%
Kiran Udyog Bharat Forge
3.6%
Ltd.
3.4%
Wheels India
Ltd
78.4%
27
Others
2.3%
Strategic Position
HIGHLIGHTS FOR THE FY 03~04
GROWTH STRATEGIES FOR FUTURE
ü Highlight of the year was
the 100% acquisition
(“Asset Purchase Deal”) of
Carl Dan Peddinghaus
(CDP) – thus making CDP
Bharat Forge the second
largest forging
conglomerate in the world
Consolidation of India Operations
ü
Enhancement of Forging &
Machining capacities
Consolidation of Global Operations
ü
ü Bharat Forge is the Leading
supplier of Engine &
Chassis Components to
Global Customers.
ü
ü
ü Enjoys strong relationship
with Over 36 global
customers.
ü Identified as a Strong Long
Term Supply Partner by
leading global OEMs’ &
Tier I customers.
ü
ü Earns more than 65%of the
consolidated revenue from
outside India.
Long-term contract with
Global OEM’s for supply of
machined engine components
Passenger Car components to
North America & Europe
Additional long-term
contracts with existing
customers in US CV market
for supply of Chassis
components Global OEM’s
for supply of machined
engine components
New machined Engine
component supplies to
OEM’s in Europe
Strategic Tie-ups for Growth
ü
ü
Merger & Acquisitions
Strategic Partnerships
ü Has Strong Financial Base
Capability Diversification
ü Has the e capability to
provide End-to-end
Solutions
ü
28
Value Added Product
Extension
G. INDUSTRY DATABASE/DIRECTORY OF INDIA/S
AUTOMOTIVE & VEHICULAR PARTS/COMPONENTS
MANUFACTURERS
A G INDUSTRIES PVT. LTD.
Street Address
Country
Telephone
Fax
Website
Date Established
Est. Employees
Product Categories
Major Customers
Domestic OEM’s
Domestic Tiers
International Tiers
Key Executives
Contact e-mail
Plot No. GP-9, HSIDC, Sector 18
Gurgaon, Haryana, 122 015
India
+91 0124-2345821,2341735
+91 0124-2345820
No page
Private,n/a
1993
71
16.11 (2004)
757.21 (2004)
ISO 9002, QS 9000
• Injection moulded plastic components
Automotive
n/a
Hero Honda Motors Ltd., Majestic Auto Ltd.
Delphi Automotive Systems Ltd.
Mrs. Geeta Anand
agindus@ndf.vsnl.net.in
29
ABHISHEK AUTO INDUSTRIES LTD.
Street Address
Country
Teleph one
Fax
Website
Date Established
Est. Employees
Product Categories
Major Customers
Domestic OEM’s
Domestic Tiers
International Tiers
Key Executives
Contact e-mail
380-381, Udyog Vihar, Phase IV
Gurgaon, Haryana, 122 001
India
+91 0124-2342419, 2346339, 2346419
+91 0124-2343419, 2345832
http://www.abhishekauto.com
Public,n/a
1985
90
7.21 (2003)
338.92 (2003)
ISO 9002
• Seat belts
• Power window
• Buckle
Automotive
128.81 (2003)
Maruti Udyog Ltd., Tata Motors Ltd., Honda Siel
Cars India Ltd., Hindustan Motors Ltd.
Egyptian Motorbike & Bicycle, Egypt.
Mr. Dhiraj Dhar Gupta, Director
Ashimori Industry Co. Ltd. Japan, Kwang Jin Sang
Gong Co.Ltd South Korea, Takata Asia Pte Ltd.
Singapore
info@abhishekauto.com
30
ABILITIES INDIA PISTONS & RINGS LTD.
Street Address
Country
Telephone
Fax
Website
Date Established
Est. Employees
Product Categories
Major Customers
Domestic OEM’s
Domestic Tiers
International Tiers
Key Executives
Contact e-mail
G-89, Preet Vihar
Delhi, Delhi, 110 092
India
+91 011-22059744, 22059755
n/a
http://www.aippistons.com
Limited,AIP
1966
181
1.72 (2004)
81.00 (2004)
ISO 9002, TS 16949
• Pistons
• Piston rings
• Cylinders
Automotive
n/a
TVS Motor Co. Ltd., Greaves Ltd.
Mr. R.K. Arora
aip.del@rmy.sril.in
31
Company Profiles
Gajra Gears Pvt. Ltd
Segment: Gear Box
ACCURATE PRODUCTS CORPORATION PVT. LTD.
Street Address
Country
Telephone
Fax
Website
Date Established
Est. Employees
Product Categories
Total Capital Rupees (Mi llions)
Major Customers
Domestic OEM’s
Domestic Tiers
International Tiers
Key Executives
Contact e-mail
No. 285 (Old No. 36), Main Road, Velachery
Chennai, Tamil Nadu, 600 042
India
+91 044-22432125,22430933,22430922,22434681
+91 044-22431548
http://www.accurateproducts.com
Private,AP
1961
92
1.78 (2004)
83.76 (2004)
ISO 9002, QS 9000
• Lubricating Fittings
• Precision turned components
Automotive
30.21 (2003)
Ashok Leyland Ltd., Eicher Tractors Ltd.,Mahindra
& Mahindra,Hindustan Motors Ltd., Escorts Ltd.
Brakes India Ltd., Rane Madras Ltd., Bundy India.
Mr. Vijay P. Kumar
accurate@md2.vsnl.net.in
32

India’s OE Auto & Vehicular Components Manufacturing Industry

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