In the aftermath of the pandemic, closed die forging provider, MM Forgings Ltd. is regaining traction. Confident of opening up new revenue streams with streamlined and well-oiled procedures and practices, the company will leverage an in-sync human capital to realise its full potential. A testimony to efforts fructifying is the recent acknowledgement from CV major Ashok Leyland. Leyland awarded the company with the 'Silver Award' in the Cost Category, in 2021. Its expansion spree is also evident from recent acquisitions like that of Cafoma Autoparts for an estimated valuation of Rs.33 crore known to include a rupees five crore subordinated debt. Vidyashankar Krishnan, Managing Director, MM Forgings in the recent past has stated that the second half of FY2021-22 should be much stronger than the first half and also with the likely pickup in the CV market. The company expects to close to around 65,000-tonne in volumes this year."
With cautious optimism, the company, as per recent reports, could realise a revenue stream of Rs.1,100 crore for FY202122 with an incremental hike in projections the years thereafter. As per the company's investor conference call, the company hopes to increase volumes from 60-tonne to 80-85,000-tonne before scaling up to 1-1.2 lakh tonnes in FY2023-24. It is banking on sweating the new press lines in comparison to the old press lines. The company also hopes to benefit from the growing EV exposure and expectations of the domestic business contributing a higher degree than the exports business compared to the contrasting equation as of current.
Denne historien er fra March 2022-utgaven av Auto Components India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra March 2022-utgaven av Auto Components India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
RENESAS UNVEILS MULTI-DOMAIN SOC.
Renesas Unveils 5th-Generation Multi-Domain SoC for ADAS, Infotainment and Gateway Systems
BORGWARNER SECURES NEW HVCH PROGRAMS
BorgWarner has secured three significant business wins for its High Voltage Coolant Heater (HVCH) technology, expanding its reach in the Chinese, Korean and Japanese electric vehicle markets.
RESHAPING REALITY
Abhiyantriki, the 26th annual technical fest of K J Somaiya School of Engineering at Somaiya Vidyavihar University, took place at its Mumbai campus under the theme ‘Reshaping Reality’, focusing on futuristic innovations and real-world problemsolving.
CONTINENTAL TIRES INDIA CELEBRATES CONTINUED PREFERRED PARTNER STATUS
Continental Tires India reaffirms its dedication to customer-centric solutions and operational excellence through its sustained partnership with Mercedes-Benz AG.
ACMA IAUTOCONNECT 2024
The Automotive Component Manufacturers Association of India (ACMA), hosted the ninth edition of its premier buyer-seller event, iAutoConnect, at Yashobhoomi in New Delhi.
4TH ACMA AUTOMOTIVE RAW MATERIALS CONCLAVE
The 4th Automotive Raw Materials Conclave focused on automotive innovations and sustainability in nonferrous materials, writes Richa Tyagi.
MOBILITY PLAYSETS
Even as the Indian automobile industry touches new heights and innovations, it is the commercial mobility play sets that continue to be a major draw. It is a good starting point for the next generation, writes Prajakta Chavan Rane from her plant sojourn.
SUSTAINABILITY AS STRATEGY
In an Industry Talk session, Satyakam Arya Managing Director and CEO, Daimler India Commercial Vehicles spoke to Ashish Bhatia on integrating sustainability into the overall business strategy.
EMBRACING SHOPFLOOR AUTOMATION
In manufacturing, where precision, efficiency, and cost-effectiveness are paramount, Mahindra Mahindra has embraced shopfloor automation as a cornerstone of its strategy
FREUDENBERG EXPANDS MANUFACTURING FOOTPRINT
Freudenberg opens two state-of-the-art manufacturing plants in Morinda, marking its largest investment in expanding the manufacturing footprint in India, writes Richa Tyagi.