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Home > Equity Market > Autoline Industries Ltd.- Company History >

Autoline Industries Ltd.- Company History

Industry: Auto Ancl - Engine Parts
BSE Code :532797
NSE Code :AUTOIND
Business Group:Not Applicable
LTP (Rs.) :82.25  (0.0%) [NSE]
ISIN No :INE718H01014
Face Value/M Lot :10.00/1
P/E Ratio : 0.00
Market Cap : 101.38 Cr
The company history sections lists out major chronological events that happened to the company.
Autoline Industries Ltd (AIL) (incorporated on December 16, 1996, as Autoline Stampings Private Ltd.) was initially set up in January 1995 as a partnership firm known as "Autoline Pressings" under Indian Partnership Act 1932, with a capital of Rs. 0.30 million & term loan of Rs. 0.15 million from State Bank of India and Cash Credit limit of Rs.0.05 million. AIL has grown into a medium sized engineering and auto ancillary Company, manufacturing sheet metal components, sub-assemblies and assemblies for large OEMs in the Automobile Industry.

We are engaged in Manufacturing various auto parts / sheet metal components for Passenger cars, Sports Utility Vehicles (SUV), Commercial vehicles, Two wheelers, Three wheelers, Tractors, etc. We are one of the prime vendors to various Automobile Companies like, TATA MOTORS LTD. (earlier TELCO), BAJAJ AUTO LTD, KINETIC ENGINEERING LTD, MAHINDRA & MAHINDRA LTD., FIAT (INDIA) PVT. LTD., WALKER EXHAUST (INDIA) PVT LTD (a Subsidiary of Tenneco, a fortune 500 U.S. company), etc. AIL is also exporting auto parts i.e. brake shoes for Mercedes Benz Trailers to Saudi Arabia, Dubai etc. Further negotiations are at various stages with various Detroit based Auto Component Makers for direct exports. Due to excellent quality in work, cost competitiveness, timely deliveries and State of the Art Tool Room with latest CAD / CAM facilities, the company has, in a short span, become prime vendor to all the reputed Auto Manufacturers in and around Pune. The turnover of the company has accordingly increased from a modest Rs. 6.30 million as on 31.03.1997 to a massive Rs. 1113 million as on 31.03.2006, in just 9 years time. All the manufacturing facilities have been certified as ISO/TS 19649: 2002 by TUV(Rh), Germany.

Considering the rapid growth in the business, the company was in need of additional space and manufacturing capacities. Therefore 3 to 4 expansions had to be taken up in quick succession during last 9 years. Initially we started our operations at Kudalwadi with 10,000 sq. ft. plot area. Then expanded to Chakan with 114,000 sq. ft. Plot area and T-135, MIDC, Bhosari with 53,000 sq. ft. plot area. Further we have now acquired additional Land of 15 Acres (600,000 sq. ft. area approx) in Chakan very near to the existing Factory. Out of the 15 acres land acquired, 7 acres has been utilized to set up a new modern manufacturing facility on a built-up area of 1,60,000 sq. ft. Thus our existing operations of the company are spread at five places (including a wholly owned subsidiary) with good infrastructural facilities.

During last 9 years our sales have shown steady growth. During the year 2000-01 we had achieved sales of Rs. 171.20 million which were 9.12 % more than sales of 1999-00. In the year 2001-02 the sales were Rs. 212.50 million, increased by 24.13 % as compared with previous year. For the year 2002-03 we achieved sales growth of 28.46 % with sales of Rs. 272.9 millions. In the year 2003-04 we achieved sales of Rs. 510.8 million, thereby registering growth of 87% over previous year. In the year 2004-05, sales grew to Rs.684.8 million (growth of 34% over previous year) and further to Rs.1113.3 million in 2005-06, a massive growth of 63% over previous year and a growing base.

We have been consistent in making profits. In the year 2000-01 and 2001-02 we had earned net profit of Rs. 0.51 million and Rs. 4.43 million respectively. During the year 2002-03 the Net profit was Rs.5.70 million. During the year 2003-04 we made a profit of Rs. 5.93 million. The profitability in comparison with the sales was low, because the major clients like Tata Motors and Bajaj Auto had not given the price increase for Steel despite steep increase in the prices of raw material i.e. Steel. Further there was increase in the finance cost also. However during the year 2004-05, Tata Motors had increased the prices of the components in proportion to increase in the prices of Raw Material. The finance cost was reduced by more than 50% by availing FCNR(B) loans at 300 basis points above LIBOR from Bank of Baroda to replace all Rupee Loans. The Net Profit thus saw robust growth to Rs.19.80 million in 2004-05 and further improved to Rs.70.13 million in 2005-06.

MAJOR EVENTS IN THE HISTORY OF THE COMPANY

Period/Time Particulars

January 1995 Set up the first manufacturing facility at Kudalwadi, Chikhali, Pune with one 150 T 'C' frame press and supporting machinery on a built-up shed of 3000 sq.ft. area. Doing job work as Tier III supplier

June 1996 Obtained the Vendor Code for direct supplies to Bajaj Auto Ltd.

September 1996 Obtained the Vendor Code for direct supplies to Tata Motors Ltd. (then TELCO)

December 1996 Converted the partnership firm into Private Limited Company

June 1997 Expanded the facilities at Kudalwadi by acquiring adjacent land, adding 250/300 T press, setting quality systems, etc. for supplies to Bajaj Auto, Tata Motors and Kinetic Engg. Ltd.

January 1998 Received CQ certification from Tata Motors for supplying on DSL basis (Direct Supply Online, without inspection at OEM)

March 1997 to October 1998 Set up second Manufacturing facility at Chakan with Presses ranging from 250 T to 600 T and supporting facilities for Tata Motors prestigious INDICA car project on the basis of Letter of Intent

August 1999 Set up a Tool Room at Chakan. Imported Hartford CNC Vertical Milling Centre and bought other sophisticated machines locally. December 1999 Set up CAD/CAM facilities with the latest software available for Tool Making.

April 2001 Took over Amogh Engineers, a Rs.40 million company manufacturing Brake Assembly for Tata Motors 407/709 models and also entered into export of brake shoes to UAE, Singapore, Germany, etc.(since merged with AIL) September 2002 Received QS 9000/ISO 9002: 1994 certification from TUV(Rh), Germany for Chakan Plant.

June 2003 Took over smaller pressing companies (Tier II and III) locally supplying to Tata Motors Ltd. with their Dies & Tools.

December 2003 Set up third Manufacturing Unit at MIDC, Bhosari on 54,000 sq.ft. land with a modern light press shop facilities (Press Range 40 T to 300 T) for small and medium components for Bajaj Auto, Tata Motors, Walker Exhaust, Kinetic, etc.

February 2004 Obtained a Term Loan from a nationalized bank and shifted our banking operations from a cooperative bank to a large bank in the public sector.

March 2004 The company achieved a turnover of Rs.510.00 million in 2003-04, registering a hefty growth of 87% over previous year.

August 2004 Load Body for Tata Motors prestigious ACE mini truck model awarded to company as a single source supplier, to make large sized Floor Dies in-house.

October 2004 Chakan Unit gets ISO/ TS 16949 : 2002 certification from TUV (Rh), Germany one among the 40 companies then all over India

December 2004 Purchased 15 acres of land in Chakan prime area near to existing factory for future expansion

February 2005 Bhosari Unit get ISO/TS 16949: 2002 certification from TUV (Rh), Germany

August 2005 Duke Special Opportunities Fund, Private Equity Investor, invests in company

November 2005 Acquired as a wholly-owned subsidiary Western Pressing Pvt. Ltd., a company manufacturing tubular cross members, silencers and Exhaust Systems thus getting into proprietary products. Turnover of Rs.140.00 million in 2005-06.

March 2006 Acquired a 51% stake in Dimensions Engineering Software Services Pvt. Ltd., a company with 40 people into CAD/CAM/CAE & Design Engineering Services making AIL a Concept to Delivery company.

2007

Autoline Industries Ltd has informed that the MOU entered into by the Company with Stokota N.V. Belgium dated February 19, 2007 has become infractious and stands terminated due to technical issues arising from the compliance requirements stated therein.

2008

- Autoline Industries Ltd has inducted Mr. Lalit Kumar Pahwa as Chief Executive Officer (CEO) of the Company with effect from September 01, 2008.

-Autoline Industries has appointed Mr. Sanjay Landge as Chief Financial Officer (CFO) of the Company with effect from September 9, 2008.

- Autoline Industries Ltd has appointed Prof. Chandramouli Padmanabhan as an Independent Director on the Board of the Company with effect from September 30, 2008.

2010

- Autoline Industries Limited has appointed Mr. Narayan Gopal Bhat as Chief Financial Officer (CFO) of the Company on January 11, 2010.

2011

-Autoline Ind - Mega Project approval

-"Award for "Excellence in Cost Efficiency 2010-11" received at National Vendor meet of TATA Motors LIMITED

-Autoline Industries Ltd - Western Pressing Limited & Nirmiti Autocomponents Private Limited have been amalgamated

2012

-Autoline Ind - Board recommends Dividend of Rs. 4/. (i.e. 40%) per equity share of the Rs. 10/- each for the year ended March 31, 2012

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