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×

the canara workshops Limited

50.00
+ 0.00 %
Scrip Name
Canara Workshops
ISIN No.
INE02US01015
PAN No.
AAACC9018M
Face Value
10
No. of Outstanding Shares
1,469,909
Market Capitalization
7.35 Crore

About The Canara Workshops Ltd Unlisted Shares

Pioneers in springs steel technology and laminated leaf springs under the popular brand name CANARA SPRINGS produces leaf springs for all heavy commercial vehicles, light commercial vehicles, passenger vehicles, and also for a few passenger cars.

The Company was established in the year 1943 by Late Mr. Vaman Srinivas Kudva, who was then the General Manager of Canara Public Conveyance Limited, a public transport company. The company is spread over in the area of 23 acres of land with its building for manufacturing activities occupying 2,80,000 sq. ft. The Company has also a Logistic Division to speed up the supplies and meet its customer's requirements in time. The Canara Workshops Limited has its Administrative Office and manufacturing unit in the city of Mangalore in Karnataka State approximately around 7 Km from the heart of the City.

INCORPORATION DETAILS

CIN

U51909KA1943PLC001075

Registration Date

27 January 1943

Category/Sub-category of the Company

Company limited by Shares

Address of the Registered office and contact details

V. S. Kudva Road, Maroli, Mangalore - 575 005.

Name, Address, and Contact Details of

Registrar and Transfer Agent, if any

BSE Financials Ltd., 51, Stock Exchange Towers, 1st Cross, J. C. Road Bangalore - 560 027.

 

BOARD OF DIRECTORS

Premnath Srinivas Kudva – Chairman and Managing Director

 Venkatesh Pai Mangalore

Voderbet Mahesh Kamath

Vasant Srinivas Kudva

I

NDUSTRY OUTLOOK

Leaf springs were very common on automobiles, right up to the 1970s in Europe and Japan and late 1970s in America when the move to front wheel device and more sophisticated suspention designs saw automobiles manufactures use coil springs instead. Today leaf springs are still used in heavy commercial vehicles such as vans and truks, SUVs, and railway carriages. For heavy vehicles, they have the advantage of spreading the load more widely over the vehicle's chassis, whereas coil springs transfer it to a single point. Unlike coil springs, leaf springs also locate the rear axle, eliminating the need for trailing arms and a panhard rod, thereby saving cost and weight in a simple live axle rear suspension. So, there is a direct correlation between automotive industry growth and the leaf spring industry’s growth

The automobile industry in India is the world’s fifth-largest. India was the world's fifth-largest manufacturer of cars and seventh-largest manufacturer of commercial vehicles in 2019. Indian automotive industry (including component manufacturing) is expected to reach Rs. 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026. The industry attracted Foreign Direct Investment (FDI) worth US$ 25.85 billion between April 2000 and March 2021 accounting for ~5% of the total FDI during the period according to the data released by the Department for Promotion of Industry and Internal Trade (DPIIT).

The Indian automotive industry is expected to reach US$ 300 billion by 2026.

Domestic automobile production increased at 2.36% CAGR between FY16-FY20 with 26.36 million vehicles being manufactured in the country in FY20. Overall, domestic automobiles sales increased at 1.29% CAGR between FY16-FY20 with 21.55 million vehicles being sold in FY20.

In June 2021, domestic sales of passenger vehicles stood at 231,633 units.

Overall, automobile export reached 4.77 million vehicles in FY20, growing at a CAGR of 6.94% during FY16-FY20. Two-wheelers made up 73.9% of the vehicles exported, followed by passenger vehicles at 14.2%, three-wheelers at 10.5%, and commercial vehicles at 1.3%.

 

FINANCIALS AT GLANCE

Standalone Statement of profit and Loss for the year ended  31 March 2021 (Amounts in Lakhs)

Particulars

2021

2020

Revenue from Operations

1805.023

2230.484

Other Income

15.891

107.328

Total Revenue

1820.914

2337.812

 change %

-22%

NA

EBITDA

-58.130

15.511

EBITDA Margin

-3%

1%

DEP

28.008

32.030

FINANCE COST

151.619

153.282

Profit before tax

-237.757

-169.801

Tax Expense I Current Taxes

0.000

0.000

Deferred tax

-13.714

18.145

Total  Tax Expense

-13.714

18.145

PAT

-224.043

-187.945

Profit Margin

-12.30%

-8.04%

EPS( in Rs.)

-15.24

-12.79

 Standalone Balance Sheet as of 31 March 2021 (Amounts in Lakhs)

Particulars

2021

2020

ASSETS

 

 

Non-current assets

 

 

Property, plant, and equipment

196.49

165.90

Non-current Investment

4.59

4.59

Deferred Tax asset

75.19

61.47

Total non-current assets 

276.27

231.97

Current assets

 

 

Inventories

1100.10

926.00

Financial assets

 

 

(i) Trade receivables

725.53

883.32

(ii) Cash and cash equivalents

41.74

75.70

Short term loans and advances

120.97

173.30

Total current assets

1988.34

2058.32

Total assets 

2264.61

2290.29

EQUITY AND LIABILITIES

 

 

Equity share capital

146.99

146.99

 Other equity

-126.21

97.84

Total equity 

20.78

244.83

Liabilities

 

 

Non-current liabilities

 

 

Long Term Borrowings

448.21

305.80

Long Term Provisions

298.36

256.03

Total non-current liabilities 

746.58

561.83

Current liabilities

 

 

Financial liabilities

 

 

(i) Borrowings

1005.26

999.74

(ii) Trade payables

368.02

335.24

 Other current liabilities

95.35

91.90

Provisions

28.62

56.76

Total current liabilities

1497.25

1483.64

Total equity and liabilities

2264.61

2290.29

Dividend History

Year

2021

2020

Amount

NA

NA

 

ERFORMANCE OF THE COMPANY

The impact of the Covid-19 pandemic and restrictions imposed by the government affected working both in manufacturing and sales severely. Though the movement of commercial vehicles was permitted, garages and workshops had an impact on sales.

Even during the current financial year, our performance largely depends on the pandemic situation and the government decision thereon.

The total revenue of the company has fallen by 22% from Rs.2337.812 Lakhs to Rs. 1820.914 Lakhs.

The net losses of the company have increased, for the current year stood at Rs.224.043 Lakhs from Rs. 187.945 Lakhs.

Annual Reports

2020-21

Download

2019-20

Download

Corporate Actions

2020-21

Download
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