AUTOLINE INDUSTRIES LTD
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BSE Code:
532797
NSE Code:
AUTOIND
Business Profile
Business Profile
Incorporated as Autoline Stampings in 1996, in 2006 its name changed to Autoline Industries. The company is engaged in the business of medium sized engineering and auto ancillary.
The product profile has changed substantially from simple sheet metal products to complex sub-assemblies like the critical front floor, fabricated load bodies, break-assemblies, tubular formed products such as silencers, exhaust systemsetc. It also provides CAD/CAM facilities. Today, more than 400 products from Autoline fit into a range of SUVs, LCVs, HCVs and passenger cars besides 2 and 3 wheelers.
Autoline supplies to various automobile companies like Tata Motors, Bajaj Auto, Kinetic Engineering, Mahindra & Mahindra, Fiat India, and Walker Exhaust India (a subsidiary of Tenneco, a Fortune 500 U.S. company).
It exports auto parts i.e. brake shoes for Mercedes Benz trailers to Saudi Arabia, Dubai etc. The company supplies about 86% of its products to Tata Motors and Bajaj Auto.
Autoline has taken a major stake in Autoline Dimensions Software making it a subsidiary to offer offshore designing & manufacturing model (ODM). Apart from this in November 2005, it acquired Western Pressing with facilities for manufacturing silencers and exhaust systems.
Autoline has three plants located at Kudalwadi, Chakan and Bhosari near Pune, India.
The company has tied up with Strokota of Belgium, a road transportation player that manufactures tippers, trailers, storage tanks, and aluminum and steel tankers etc, for which it has increased its press shop capacity from 250 tons to 1,050 tons for door assemblies.
During 2005-06, it set up a joint venture company in UAE under the name Union Autoline SpareParts with 49% stake. The company has been set up to manufacture brake shoes, wheel rims and also provides facilities for cylinder head reconditioning and machining of automotive and marine engine parts.
Financials
The company registered 114.5% increase in profit to Rs 150.4 million in the year ended March 2007 from Rs. 70.1 million in the year ended March 2006.
Its income increased 85.6% to Rs 1,838.6 million for the year ended March 2007 from Rs 990.6 million for the year ended March 2006.
Its sales increased 88.6% to Rs 2,100.3 million in the year ended March 2007 from Rs 1,113.3 crore in the year ended March 2006.
The EPS registered by the company increased 43.7% to Rs 14.5 in the FY2007 from Rs 10.09 in the FY2006.
Recent Developments
05-DEC-07
Autoline Industries formed a wholly owned subsidiary company in USA in the name of `Autoline Industries USA, INC`. Autoline Industries USA, INC would function as a company for acquisitions and takeovers abroad. The said company has also incorporated its wholly owned subsidiary company in USA in the name and style of `Autoline Industries Indiana, LLC`.
06-AUG-07
Autoline Industries said that the US design engineering services subsidiary of the company, Detroit Engineered Products announced in Pune, the global launch of Meshworks Morpher 4.0, a proprietary software suite targeted at the automotive and engineering industry.Michigan-based Detroit Engineered Products which was recently acquired by the company has been developing this product platform over the course of the last five years.
08-JAN-07
The company has came up with the issue of Rs 750 million in a price band of Rs 200 to Rs 225 an equity share of Rs 10 each.
Future Plans
The company is planning
1) Modernization & upgradation of the existing manufacturing facilities at Chakan.
2) To set up a new manufacturing unit at Chakan, Pune for contract manufacturing of door assemblies for passenger vehicles and automobile bodies for heavy vehicles.
3) To relocate the facilities in the existing units at Kudalwadi and Jadhavwadi to a new location at MIDC, Bhosari.