The Hi-Tech Gears Ltd
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BSE Code:
522073
NSE Code:
HITECHGEAR
Business Profile
Business Profile
Hi-Tech Gears (HITECHGE), part of the Hi-Tech group, is primarily engaged in the business of gears and transmission components. The company was incorporated as a public limited company in 1986.
The company`s products include transmissions gears and shafts for two wheelers and four wheelers, timing gears for diesel engines, timing gears for power generators, precision forgings, precision machined parts, power takeoff units for off-highway vehicles, power transmission shafts for passenger cars, and e-engineering services and products.
The company has manufacturing facilities in Bhiwadi and Manesar, which are ISO TS16949, ISO14000 and OSHAS 18001 certified. The company is expanding its manufacturing capacity at its existing facilities and constructing a new one at Sidhrawali in Haryana state. Its 100% subsidiary, Hi-Tech Robotic Systemz, is engaged in the business of computer vision, artificial intelligence, and robotics.
The company has adopted international technology from Kyushu Musashi and Getrag Corporation for timing gears. Recent awards include Most dependable Supplier award from TCL for 2006-2007 and 100% Quality and Delivery performance recognition from Tata Cummins, Cummins and Honda Siel Cars (I). The two-wheeler products account for the 62% of sales, the four wheeler component is 25% and rest is related to precision forgings. The company has strategic tie-ups with Getrag Gears for the supply of auto components to General Motors and Cummins US; with Bosch for the supply of two components. It supplies four-wheeler products to Tata Cummins and Honda Cars and two-wheeler products to Hero Honda, besides exports.
The registered office of Hi-Tech Gears is at A-589, Industrial Complex, Bhiwadi-301019, Alwar district, Rajasthan and corporate office at 14th Floor, Tower-8, Unitech`s Millenium Plaza, Sushant Lok-1, Sector-27, Gurgaon, Haryana-122002.
Financials
Hi-Tech Gears registered a 73.16% growth in net profit to Rs 27.93 million for the quarter ended June 2007 from a profit of Rs 16.13 million for the quarter ended June 2006.
Net sales rose 17.60% to Rs 725.54 million for the quarter ended June 2007 from Rs 616.98 million for the quarter ended June 2006.
Total income rose 18.28% to Rs 732.38 million for the quarter ended June 2007 from Rs 619.19 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 2.98 for the quarter ended June 2007.