Kinetic Motor Company Limited
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BSE Code:
505190
NSE Code:
KINETICMOT
Business Profile
Business Profile
Kinetic Motor Company (KINETIC), incorporated on Feb. 08, 1984, is a leading two wheeler manufacturer in India, which introduced the concept of gearless scooters in India. Earlier known as Kinetic Honda Motor, it got its present name on Mar. 31, 1999. The company is a unit of the Kinetic Engineering group, which is in the field of manufacturing two wheelers ranging from 65 cc mopeds to 150 cc motorcycles. Kinetic Engineering, MicroAge Instruments, Kinetic Auto Components, Kinetic Elevators and Escalators, Kinetic Communications and Jaihind Sciaky are other group companies.
The ISO 9001:2000 certified company manufactures and markets advanced scooters in India ranging from 75 cc to 165 cc engines and contemporary styling with popular brand names like Luna, Nova 135, Zing, Velocity, Boss, Aquila, and Comet. It has three state-of-the-art manufacturing facilities at Koregaon Bhima, Ahmednagar and Pithampur and a nationwide network of nearly 450 dealers and over 1,000 service centers.
In FY07, the company consolidated its two-wheeler business and now it manufactures the full range of two wheelers including mopeds, scooterettes, scooters and motorcycles. It acquired the moped and motorcycle manufacturing facilities from Kinetic Engineering and has launched the 165 cc scooter Blaze under the Italiano range. Entering into an agreement for equity participation and technical collaboration with Sanyang Industry Company, it will manufacture and introduce the SYM range of advanced technology two-wheeler models in India.
The company is a leading exporter of vehicles across the globe with major export destinations including USA, Canada, Latin America, Europe, Africa, Middle East and South Asia. It has won several excellence awards for exports.
The registered office is located at Plot No.2, Industrial Area No. 1, Pithampur,
Dhar-454775, Madhya Pradesh.
Financials
Kinetic Motor Company registered a loss of Rs 181 million for the quarter ended March 2008.
Net sales declined 34.87% to Rs 274 million for the quarter ended March 2008 from Rs 420.7 million for the quarter ended March 2007.
Total income dipped 35.42% to Rs 284.1 million from Rs 439.9 million for the quarter ended March 2007.
The loss per share of the company stood at Rs 9.07 for the quarter ended March 2008.
Recent Developments
15-MAY-08
Kinetic Motors plans to raise Rs 1 - 1.25 billion in the next three months for expanding its operations. The fund would be deployed for capacity expansion as well as for introducing new products.
Mahindra & Mahindra (M&M) is said to be in talks to acquire Kinetic Motors. It is learnt that both the companies are in the final stage of due diligence and M&M is expected to buy a majority stake in the company.