Autoline Industries Ltd Share Price AUTOIND
|Managing Director||Shivaji T Akhade|
|Whole-time Director||Sudhir V Mungase|
|Independent Director||C A Vijay K Thanawala|
|Chairman||Prakash B Nimbalkar|
|Non Executive Director||Amit Goela|
|Executive Director & CEO||Umesh Chavan|
|Independent Director||Jayashree Fadnavis|
|Company Secretary||Ashish Gupta|
Autoline Industries Ltd is an integrated Design-Engineering-Manufacturing ancillary company of automobile components and assemblies to the leading OEMs in the automobile industry. The company is engaged in manufacturing various auto parts/ sheet metal components for passenger cars, sports utility vehicles (SUV), commercial vehicles, two wheelers, three wheelers, tractors, etc. The company has 11 manufacturing facilities which manufacture more than 400 products for various vehicle segments. They also have design centers at Pune, Chennai, USA and Italy.
The company has two segments, namely Press Sheet Auto Components and Assemblies and others. The principal products of the company include manufacturing of sheet metal auto components, subassemblies and main assemblies. Their customers include Bajaj Auto Ltd, Tata Motors Ltd, Kinetic Engineering Ltd, Mahindra & Mahindra Ltd, Walker Exhaust (India) Pvt Ltd, Cummins USA, American Axle FIAT India Pvt Ltd and Ashok Leyland.
Autoline Industries Ltd was incorporated on December 16, 1996 as a private limited company with the name Autoline Stampings Private Ltd. Initially, the company was established as a partnership firm known as Autoline Pressings in January 1995. They set up the first manufacturing facility at Kudalwadi, Chikhali, Pune with one 150 T C frame press and supporting machinery. In June 1996, they obtained the Vendor Code for direct supplies to Bajaj Auto Ltd and in September 1996, they obtained the Vendor Code for direct supplies to Tata Motors Ltd. (then TELCO). In December 1996, the company was converted into private limited company and thus formally incorporated.
In June 1997, the company expanded the facilities at Kudalwadi by acquiring adjacent land, adding 250/300 T press, setting quality systems, etc. for supplies to Bajaj Auto, Tata Motors and Kinetic Engineering Ltd. In January 1998, they received CQ certification from Tata Motors for supplying on DSL basis (Direct Supply Online, without inspection at OEM).
In October 1998, the company set up their second manufacturing facility at Chakan with Presses ranging from 250 T to 600 T and supporting facilities for Tata Motors prestigious INDICA car project on the basis of Letter of Intent. In August 1999, they set up a tool room at Chakan. In December 1999, they set up CAD/CAM facilities with the latest software available for Tool Making.
In April 2001, the company acquired Amogh Engineers, a Rs 40 million company manufacturing Brake Assembly for Tata Motors 407/709 models. They also entered into export of brake shoes to UAE, Singapore, Germany, etc. In June 2003, the company took over smaller pressing companies (Tier II and III) locally supplying to Tata Motors Ltd. with their Dies & Tools.
In December 2003, the company set up their third manufacturing unit at MIDC, Bhosari on 54,000 sq ft land with a modern light press shop facilities (Press Range 40 T to 300 T) for small and medium components for Bajaj Auto, Tata Motors, Walker Exhaust, Kinetic, etc. In October 2004, the companys Chakan unit got ISO/ TS 16949: 2002 certification from TUV (Rh), Germany. In December 2004, they purchased 15 acres of land in Chakan prime area near to existing factory for future expansion. In February 2005, their Bhosari Unit got ISO/TS 16949: 2002 certification from TUV (Rh), Germany.
In November 2005, the company acquired Western Pressing Pvt. Ltd, a company manufacturing tubular cross members, silencers and Exhaust Systems and thus, making Western Pressing Pvt. Ltd as a wholly owned subsidiary company. In March 2006, they acquired 51% stake in Dimensions Engineering Software Services Pvt Ltd, a company with 40 people into CAD/CAM/CAE & Design Engineering Services making the company a Concept to Delivery company.
In January 2007, the company their initial public offerings and their shares were listed on Bombay Stock Exchange and National Stock Exchange on January 31, 2007. In March 2007, the company commenced commercial production of skin panel like door assembly at Chakan Unit II. Also, they acquired 100% stake in Autoline Dimensions Software Pvt Ltd. In May 2007, the company acquired 51% stake in US firm, Detroit Engineering Products, Inc (DEP).
In October 2007, the company received Letters of Intent for new business from customers like Daimler Chrysler India Pvt Ltd, Cummins Power Generation, USA and Tata Daewoo, South Korea. Also, they acquired 100% stake in Nirmiti Autocomponents Pvt Ltd, a company engaged in the business of pedal systems, door hinges and manufacturing of sheet metal components and fabricated small assemblies which is having manufacturing facilities at Pune and Uttarakhand. In December 2007, they formed Autoline Industries USA, Inc as a wholly owned subsidiary company.
In February 2008, the company and Sharjah Cement & Industrial Development Co (SCIDC), UAE entered into shareholders agreement with Autoline Industrial Parks Limited, Pune a subsidiary company of the company and formed a joint venture company for the purpose of setting up and development of industrial parks relating mainly to Auto Ancillary Units, Design Engineering Units etc.
In May 2008, the company constructed factory shed and started manufacturing operations for Silencers, Exhaust Systems, etc. at Mahalunge, Chakan, Tal- Khed. In June 2008, they commissioned the State of the art Tool Room on built up area of 60000 sq ft on 2 acres of land and started commercial production. In September 2008, they acquired 100% stake in Koderat Investments Ltd, making it as a wholly owned subsidiary company.
In October 2008, the company received Best performance award for excellence in cost effectiveness in sheet metal business at National Vendor meet of Tata Motors Ltd. In November 2008, they exported their first consignment to Cummins Power Generation, USA. In April 2009, the company set up manufacturing facility at Rudrapur, Uttarakhand and commenced commercial production of medium and large stamped parts. In July 2009, they acquired land at Rudrapur, Uttarakhand, adjacent to existing plots at Uttarakhand.
In February 2010, the company received Best performance award for excellence in Quality in sheet metal business at National Vendor meet of Tata Motors Ltd. In March 2010, Autoline Industries, Inc. USA, a wholly owned subsidiary of the company received General Motors Supplier of the Year Award - 2009. In May 2010, Tata Motors Ltd ranked Chakan plant -1 as number one in sheet Metal family and 4th in all PCBU suppliers. In September 2010, they received new business orders from OEMs like - Volkswagen, Daimler India, Ashok Leyland, Nissan, General Motors etc.
The company is in the process of setting up additional manufacturing facility at Rudrapur, Uttarakhand which is expected to be completed during the financial year 2010-11. The company proposes additional assembly lines here, weld line for Ace Frame, weld line for Assembly Door Inner - Ace, Weld facility for Load Body Cross Member, Weld facility for Assembly Control Mounting bracket, Small presses for child parts etc. for upcoming models of Tata Motors Ltd, and is expected to take care of the large volume growth at Uttarakhand.
The company proposes to amalgamate Western Pressing Ltd and Nirmiti Autocomponents Pvt Ltd with the company. The amalgamation will achieve a synergy in operations and enjoy economies in operations resulting in maximizing the overall shareholder value.
The company has applied for Mega Project status for Chakan Unit 1, Chakan Unit II & III plants located at Chakan, Pune under the Government of Maharashtra Scheme and have complied with various conditions of the Scheme. The company is waiting for necessary approvals to enable further action.
Survey Nos 313 314 320 - 323,
Nanewarkadi Chakan Taluka Khed,Pune,
Tell. : +91-2135-664865/6
Website : http://www.autolineind.com
Email : email@example.com