Kar Mobiles Ltd Share Price

Summary

The Bangalore-based Kar Mobiles (KML) set up its factory to manufacture valves for internal combustion engines in 1973-74. Commercial production commenced in 1974. In 1978-79, it implemented a project to expanded its capacity from 1.5 mln to 3 mln pa which was again increased to 5 mln pa in 1980-81. Having successfully established itself in the domestic market as a quality manufacturer of valves for internal combustion engines, it entered the export market in 1977. Its first customer was Lister Petter, UK, with whom it started business in 1977. Currently, it enjoys nearly 90 per cent of Lister Petters business. It started expanding its customer network in the UK and added customers like Kelvin Diesel, Villiers, Gardner and Sons, etc, and started exporting valves to France and Germany. The company established a 100% EOU in 1982-83 which commenced commercial production in the last quarter of 1984. The company widened its product range to include valves for heavy-duty stationary engines, locomotives and valves for the Defence sector. It also developed special types of masked valves for the export market. The company proposes to set up a new plant with an installed capacity of 3 mln valves pa in Tamil Nadu. The production is expected to start during 1997-98. During 1996-97, to cater to the needs of the global automotive companies, company has signed a technology licence agreement with TRW Inc. USA. Company has also appointed TRW as a sole selling agents for all countries except I
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