Mohindra Fasteners Limited (MFL) is a manufacturer of ‘High Tensile Fasteners’ used in Automotive, and Engineering sectors. The company’s infrastructure is spread across three plants with latest equipments for manufacturing of high quality fastener assortments. The company has initiated activities for a Greenfield expansion at a new location at IMT Rohtak, approximately 5 km away from the existing facilities.
Mohindra Fasteners Limited was incorporated as a Public Limited Company on 10th January, 1995and started its commercial production in 1997. The company is listed on the Metropolitan Stock Exchange (MSEI).Its wide range of products are categorised under two industry verticals comprising of:
Standard / Norm Parts as per various standards
Drawing / Print / Automotive Parts
MFL also manufactures fasteners in materials such as stainless steel and brass. The major clients of the company are Hero MotoCorp Limited, Maruti Suzuki, Hyundai India, and Tata Motors. The company derives nearly 40% of revenues from Domestic sales and the rest 60% from overseas sales.
The company owes its success to its lean manufacturing operations and dedication to quality at every step. The passion to serve its customers with the best has successfully translated to significant market share both in domestic and overseas market(s).
CIN of Mohindra Fasteners |
L74899DL1995PLC064215 |
Registration Date of Mohindra Fasteners |
10th January,1995 |
Category/Sub-category of Mohindra Fasteners |
Public Company, Limited by shares |
Mohindra Fasteners Registered office address and contact details |
304 Gupta Arcade, Inder Enclave, Delhi-Rohtak Road, New Delhi -110087 Tel. No.: +91-11–46200400 |
Mohindra Fasteners Registrar and Transfer Agent address and contact details |
Mr. Virender Rana, Director Skyline Financial Services Private Limited, D-153/A, Ist Floor, Okhla Industrial Area, Phase-1, New Delhi-110020 Tel. No.: +91-11–40450193-97 |
|
Name and Description of main products/services |
NIC Code of the product/service |
% to total turnover of the Company |
|
Manufacture of High Tensile Fasteners |
2599 |
100% |
Mr. Deepak Arneja (Chairman Cum Managing Director & CEO)
Mr. Ravinder Mohan Juneja (Managing Director)
Mr. Gagandeep Singh Narang (Non – Executive Director)
Mr. Vinod Kumar (Non – Executive & Independent Director)
Mr. Ved Prakash Chaudhary (Non – Executive & Independent Director)
Mrs. Shamoli Thakur (Non – Executive & Independent Director)
Mohindra Fasteners Limited does not have any subsidiary or associate company.
|
Total Available Shares: |
5356800 |
|
Face Value: |
Rs. 10 Per Equity Share |
|
ISIN: |
INE705H01011 |
|
Pan No. |
AAACM6749D |
|
Lot Size: |
100 |
|
Last Traded Price: |
Rs. 200 |
|
Market Cap: |
Rs. 107.14 Crore |
|
S. No. |
Shareholders’ Name |
Number of shares |
% of total Shares of the company |
|
1 |
Anurag Arneja (Promoter) |
580100 |
10.83% |
|
2 |
Deepak Arneja(Promoter) |
570900 |
10.66% |
|
3 |
Ravinder Mohan Juneja (Promoter) |
505350 |
9.43% |
|
4 |
Ranbir Singh Narang (Promoter) |
428500 |
8.00% |
|
5 |
SudhirArneja (Promoter) |
392400 |
7.33% |
|
6 |
Other Promoters |
1297450 |
24.22% |
|
7 |
Public Shareholding |
1582100 |
29.53% |
|
|
Total |
5356800 |
100% |
India is the 4th largest auto market in the world. India is expected to replace Japan as the third largest auto market by 2021. In India, the two wheeler segment dominates the automobile market in terms of volume. Apart from this, India is the largest Tractor manufacturer, 2nd largest bus manufacturer and 3rd largest heavy trucks manufacturer in world. India is also a big exporter of automobiles and automotive products and has very strong growth expectations in the future.
In FY 2020, India manufactured 2.63 Crore vehicles and sold 2.15 Crore vehicles. Automobile production at domestic level increased at CAGR of 2.36% from FY 2016 to FY 2020 and sales increased at CAGR of 1.29% for the same period. The Electrical Vehicle market of India is projected to grow at CAGR of 44% between 2020-2027 and is expected to touch annual sales of 63.4 lakh units by 2027.Indian automotive industry (including component manufacturing) is expected to reach Rs. 16-18trillion by 2026.
FY 2021 was one of the toughest year in the history of the Indian automotive industry due to outbreak of COVID 19 pandemic. The Automobile industry was already facing headwinds due to slowing economy was stopped completely due to nationwide lockdown in 2020. The Indian automotive industry in FY 2021 registered a decline of 13.6%. However, the last 2 quarters have been relatively better than the first 2 quarters of FY 2021. 4th Quarter of FY 2021 registered an increase of 25.89% in total sales of automobiles when compared to 3rd quarter of FY 2021. The Passenger Vehicle segment saw a total decline of 2.24% in FY 2021. However, the Passenger Vehicle segment performance in 4th quarter improved strongly with year-on-year increase of 42.4%.
For Auto component the scenario is same as the automobiles. Sales of the automotive components sharply fell in the first 2 quarters of FY 2021. Later in the 3rd and 4th quarter of FY 2021, the market started picking up the sales.
The Indian automotive industry is expected to book growth in FY 2022. However, it is projected that the passenger vehicle segment will reach the levels of FY 2019 only in FY 2023-24. ICRA, a rating agency, expects domestic auto component industry revenue to grow by 16-18% in FY 2020. The outlook for auto component industry has changed from Negative to Stable backed by increase in demand across Original Equipment manufacturers, replacements and exports.
