44 DALAL STREET INVESTMENT JOURNAL I JULY 22 - AUG 4, 2019 DSIJ. in^
Financial Review For FY19
T
he Indian auto ancillary sector is a noteworthy
contributor to the global automotive supply chain.
International automobile manufacturers such as
Toyota, General Motors, Honda and Volkswagen
procure a range of high-value critical auto
components from India. The domestic auto ancillary industry is
composed of around 800 firms and generates a turnover of
approximately US$ 40 billion. The Indian auto ancillary
industry is classified into the organised sector and the
unorganised sectors. The organised sector accommodates the
requirements of OEMs and comprises high-value precision
instruments. On the other hand, the unorganised sector is
composed of low-value products and is mainly geared towards
the aftermarket category.On a broader level, the products in this sector are classified as
follows: engine parts, transmission & steering parts, suspension
& braking parts, equipment, electrical parts, and others. Needless
to say, the success of the auto ancillary sector is closely tied to the
performance of the automobile sector. It is governed by factors
such as low cost manufacturing, superior quality standards and
engineering expertise. Therefore, fluctuations in the demand for
two-wheelers, commercial vehicles and cars have a tangible
impact on the demand for auto ancillary products. The demand
is created by the original equipment manufacturers (OEMs) asAuto Ancillary
Company Name
Market Cap
(` in Cr.)Net Sales (in Cr.) Operating Profit (Excluding OI) ( in Cr.) Net Income (` in Cr.)
FY19 FY18 FY17 FY19 FY18 FY17 FY19 FY18 FY17
Bosch 48683.53 12257.91 11872.24 11242.56 2163.54 2093.20 1960.35 1598.04 1370.72 1444.07
Motherson Sumi Systems 38779.43 63522.88 56521.30 43157.03 5002.90 4826.93 4144.98 1985.04 2121.86 1989.27
MRF 23727.01 16062.46 15364.97 14929.21 2305.36 2281.84 2640.45 1130.61 1131.61 1486.22
Bharat Forge 21326.29 10145.73 8414.67 6598.16 2055.57 1722.99 1251.06 1043.97 754.35 697.59
Cummins India 20419.94 5697.31 5190.45 5457.79 869.05 732.91 804.60 649.97 626.04 655.17
Exide Industries 17238.00 10588.31 9459.80 8553.74 1411.34 1240.76 1082.48 844.05 668.35 693.64
Endurance Technologies 15166.97 7510.50 6479.29 5991.20 1128.78 927.85 758.33 495.01 390.76 330.31
Balkrishna Industries 14230.08 5209.99 4460.97 3780.11 1302.13 1101.56 1130.97 773.65 735.79 716.85
Apollo Tyres 11180.72 17548.84 15097.74 14169.96 1958.63 1653.60 1848.73 679.72 723.88 1099.30
Amara Raja Batteries 11010.57 6793.11 6232.98 5981.39 951.75 883.23 849.91 483.49 471.32 478.49
Mahindra CIE Automotive 8576.75 8031.54 6570.94 5524.58 1051.09 814.33 531.09 548.55 366.66 169.00
Minda Industries 7926.82 5908.09 4548.29 3665.36 725.18 533.82 373.99 320.61 307.78 165.42
Tube Investments of India 7173.40 5774.77 5027.47 4493.01 544.67 407.58 403.03 259.68 168.59 181.80
Varroc Engineering 6265.37 12036.47 10278.83 9298.79 1088.91 880.83 581.75 418.33 381.75 224.20
Sundaram-Clayton 4776.09 21547.89 17902.56 14730.27 2338.83 1509.62 1000.98 746.15 627.44 546.18
Ratnamani Metals & Tubes 4617.43 2754.90 1789.81 1476.23 406.51 265.91 256.93 252.92 151.77 144.06
Welspun Corp 3835.17 8953.47 6363.29 6035.47 573.08 581.26 512.41 148.38 261.58 89.42
Ceat 3744.26 6984.51 6452.33 5766.51 642.54 614.77 656.78 230.88 210.27 330.86
Greaves Cotton 3537.34 2015.32 1839.70 1819.27 272.20 255.34 243.39 162.63 202.19 184.14
Federal-Mogul Goetze (India) 3221.10 1341.83 1359.80 1416.40 225.60 226.78 213.68 95.50 96.19 83.74
Sector Sponsor