Research And Views Archives

Apollo Tyres: Wrong side!
(Company Info)

Nov 3, 2004

Apollo Tyres, India’s leading tyre manufacturer announced its 2QFY05 results last week. The company has continued to witness pressure at the operating level. As a consequence, despite a 5% YoY growth in topline, bottomline has fallen by around 14%. For the half yearly period, the corresponding figures stood at 9% and a negative 15% respectively, on a YoY basis. If it were not for the other income the bottomline performance would have been even worse.

Bharat Forge: Growth story continues
(Company Info)

Oct 26, 2004

Bharat Forge, world’s second largest forging company, has reported robust 2QFY05 and 1HFY05 results. During the quarter, while the topline of the company has grown by a strong 42% YoY, pressure at the operating level and higher tax provisioning has resulted into the bottomline growing at a lower rate of 29% YoY. The corresponding figures for the first half stood at 40% and 29% respectively.

Exide: Will it continue to charge?
(Company Info)

Sep 22, 2004

Riding on the back of robust auto sales, Exide, India's largest automotive battery manufacturer has seen some significant buying interest in recent times. In this article let us throw some light on the company's recent performance and on the future prospects of the same.

Identifying an auto anc. stock: Do's and don'ts
(Sector Focus)

May 31, 2004

In Views on News, Equitymaster has tried to highlight here some factors one should keep in mind before investing in an Auto ancillary company. Know more

Bharat Forge: Eyeing global leadership
(Company Info)

Apr 7, 2004

Bharat Forge (BFL), the world's second largest forging company, is aiming to acquire global leadership and in order to fulfill these global designs, the company acquired a Germany based blue chip forging company, Carl Den Peddinghaus (CDP), for a total consideration of US$ 35 m (Rs 1.5 bn). In this article, let us try and analyse the current deal and also have a look as to what the company is further doing to achieve global leadership.

Auto ancillaries: Huge potential
(Sector Info)

Jan 5, 2004

While some Indian companies were winning plaudits for their work in the services field such as IT and BPO, companies from the manufacturing sector weren't exactly treading the same path. However, if the developments that have taken place recently in the auto ancillary industry are any indication, it won’t be long before the auto ancillary industry in the country does a repeat act. And this newfound optimism in the industry is not without reason.

Sundram Fasteners: Global designs
(Company Info)

Dec 24, 2003

Sundram Fasteners Limited (SFL), one of the largest manufacturers in the fastener industry, recently acquired the precision forging business of Dana Spicer Europe for a total consideration of GBP 1.5 m (Rs 12 crores). The division is located at Northumberland UK and has been hived off as a new company called Cramlington Precision Forge Ltd (CPFL) and would be a fully owned subsidiary of SFL.

MICO: An overview
(Company Info)

Dec 19, 2003

Motor Industries Company Limited (MICO), a member of the Bosch Group (Germany), is the country's leading manufacturer of automotive Spark Plugs and Diesel Fuel Injection Equipment. In addition, MICO also manufactures Industrial Equipment, Auto Electricals and Hydraulic Gear Pumps for tractor applications.

Bharat Forge: Poised for higher growth
(Company Info)

Dec 15, 2003

Bharat Forge, one of the largest forging companies in the world, was in the news recently on account of the company’s acquisition of a German forging company, Carl Den Peddinghaus GmbH.

Apollo Tyres Vs Michelin
(Company Info)

Dec 1, 2003

In a move that will have wide ranging implications on the Indian tyre industry, Apollo Tyres, India's largest manufacturer of bus and truck tyres, joined hands with Michelin, a transnational player, to manufacture tyres for the truck and the passenger car industry.

MICO: Profits plummet
(Company Info)

Oct 29, 2001

The slowdown in the economy and sluggish auto volumes have had a significant impact on the third quarter results of Motor Industries Company (MICO). While sales have dropped by 11% for 3QFY02, profits have plummeted by 41% on account of a sharp fall in operating margins.

Sundram Fasteners: Exports stem slide
(Company Info)

Aug 6, 2001

Sundram Fasteners Ltd (SFL), a leading player in high tensile fastener industry has reported a 12% YoY drop in its net profit to Rs 84 m in 1QFY02. It is the sole supplier of radiator caps, as well as powder metal parts to General Motors, USA. The company's overall sales fell by 3.3% to Rs 1,073 m as a result of a 5.9% drop in domestic sales due to continuing slowdown in the automobile sector.

Motor Industries net declines 52% YoY
(Company Info)

Apr 30, 2001

Motor Industries Company Ltd (MICO),sales grew by 6% YoY in 1QFY02 to Rs 4,363 m. However, as the operating expenditure grew by 6.2% YoY during this period the company's operating margins dipped to 15.5% in 1QFY02.

Sundaram Clayton FY01 net dips 21% YoY
(Company Info)

Apr 19, 2001

Sundaram Clayton, a leading manufacturer of hyrdaulic brake actuator systems and castings has reported a 20% decline in its net for FY01 to Rs 182 m. The company's sales have grown by only 4% during the year.

Sundram Fasteners net falls by 30% YoY
(Company Info)

Jan 31, 2001

Sundram Fastners, a leading player in high tensile fastener industry has reported a 30% drop in net profit to Rs 78.6 m for the 3QFY01.

Sundaram Clayton net drops by 71.3%
(Company Info)

Nov 6, 2000

Sundaram Clayton, a leading manufacturer of hyrdaulic brake actuator systems and castings has reported a 71% decline in its net for the 2QFY01E to Rs 13 m. The company's sales have fallen by 2.5% YoY during this period.

Sundram Fasteners Ltd net drops by 27% YoY.
(Company Info)

Nov 6, 2000

Sundram Fasteners, a leading manufacturer and exporter of high tensile fastners, reported a 27% decline in its 2QFY01 net profit. The company sales fell by 14% YoY. The domestic sales fell by 21% YoY during this period due to the overall slowdown in the automobile industry, however its exports went up sharply by 29% YoY.

Motor Industries Company Ltd net down 22%
(Company Info)

Nov 6, 2000

The company's sales have grown by 9% YoY in the 2QFY01 to Rs 4,163 m. However, as the operating expenditure grew by 12.3% YoY during this period the company's operating margins have declined to 16.7% in the 2QFY01.

Sundram Fastners net falls by 27%
(Company Info)

Oct 30, 2000

Sundram Fastners, a leading player in high tensile fastener industry has reported a 27% drop in net profit to Rs 96.1 m for the 2QFY01.

Sundram Fasteners : Globalisation is the key
(Sector Info)

Oct 6, 2000

Sundram Fasteners Ltd (SFL), a professionally managed company has for the fourth consecutive year won the "GM supplier of the Year" award in FY2000. The prospects for the automobile ancillary industry are dull in the current year as demand has slackened in almost all automobile segments. Hence though the short term prospects for the company do not seem to be attractive, SFL has many positives to come out a winner in the long term.