The auto ancillary sector is closely linked to the automobile sector.
Any change in demand for the auto sector has an immediate effect on the demand for auto ancillary sector. For the auto ancillary sector, the demand is mainly derived from the OEMs (original equipment manufacturers) and the replacement market. The sector’s 74 percent of the domestic sales come from the OEMs and 26 percent from the replacement market. The auto components industry accounts for 2.3 percent of India’s Gross Domestic Product (GDP).
We have taken first 85 companies in the auto ancillary segment, the revenues of which have grown on an average of ~18.3 percent in FY18. Majority of the companies have reported decent growth in top-line, except a few which have de-grown in FY18. During FY18, companies such as Hi-Tech Gears, Ramkrishna Forgings and Maharashtra Scooters have shown a growth of ~63 percent, ~68 percent and ~45 percent, respectively. On the other hand, railway wagon companies like Texmaco Rail & Engineering and Titagarh Wagons witnessed a de-growth of ~10 percent and ~24 percent in sales. Also, Minda Corporation, which grew exceptionally in FY17 de-grew by ~12 percent in FY18.
この記事は Dalal Street Investment Journal の July 9, 2018 版に掲載されています。
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この記事は Dalal Street Investment Journal の July 9, 2018 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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