About Mohindra Fasteners Limited
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).
Category/Sub-category of the Company
Public Company, Limited by shares
Address of the Registered office and contact details
304 Gupta Arcade, Inder Enclave, Delhi-Rohtak Road,
New Delhi -110087
Tel. No.: +91-11–46200400
Fax No.: +91-11– 46200444
E-mail address: email@example.com
Name, Address and Contact Details of
Registrar and Transfer Agent, if any
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
PRINCIPAL BUSINESS ACTIVITES OF THE COMPANY
Name and Description of main products/services
NIC Code of the product/service
% to total turnover of the Company
Manufacture of High Tensile Fasteners
BOARD OF DIRECTORS
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)
PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES
MOHINDRA FASTENERS LIMITED does not have any subsidiary or associate company.
MOHINDRA FASTENERS LIMITEDSHARE DETAILS
Total Available Shares:
Rs. 10 Per Equity Share
Last Traded Price:
Rs. 107.14 Crore
(As on 31-03-2020)
Number of shares
% of total Shares of the company
Anurag Arneja (Promoter)
Ravinder Mohan Juneja (Promoter)
Ranbir Singh Narang (Promoter)
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.
PROFIT & LOSS STATEMENT OF MOHINDRA FASTENERS LIMITED (In Rs. Lakhs)
Revenue from Operations
Profit Before exceptional items and tax
Profit After Tax (PAT)
BALANCE SHEET OF MOHINDRA FASTENERS LIMITED (In Rs. Lakhs)
31st March 2020
31st March 2019
NON CURRENT ASSETS
Other financial assets
Other non-current assets
TOTAL NON CURRENT ASSETS
Cash and Cash equivalents
other current assets
TOTAL CURRENT ASSETS
EQUITY AND LIABILITIES
Equity share capital
NON CURRENT LIABILITIES
TOTAL NON CURRENT LIABILITIES
Other current liabilities
TOTAL CURRENT LIABILITIES
TOTAL EQUITY AND LIABILITIES
Dividend (final + interim) (In Rs.)
PERFORMANCE OF THE COMPANY
Revenue from Operations of the company in FY 2020 was Rs.10,148 Lakhs, as against Rs.13,483 Lakhs in FY 2019. Revenue from Operations of the company decreased by Rs. 3,335 Lakhs, which is about 24.73% decrease.
EBITDA of the company also decreased by 18.58% from Rs. 1,657 Lakhs in FY 2019 to Rs. 1,349 Lakhs in FY 2020. EBITDA margins improved from 12.29% in FY 2019 to 13.29% in FY 2020.
In FY 2019, the company incurred a profit of Rs.910 Lakhs. In FY 2020 the company made a profit of Rs.937 Lakhs, i.e. an increase of 2.96%.
Current Ratio of the company as on 31st March 2020 was 1.87.
Book value per share of the company as on 31st March 2020 stood at Rs.109.96.
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