Kinetic Engineering Ltd

Promoted by N K Firodia and H K Firodia, Kinetic Engineering Limited was incorporated as a private limited company in Oct.70. It became a public limited company with effect from 1 Oct.75. The Company is engaged in manufacturing and supply of automotive components. In Jan.72, the company started producing the Luna brand of mopeds designed and developed indigenously, at its plant at Chinchwad, near Pune.In 1984, along with Honda Motor Company, Japan, the company promoted Kinetic Honda Motors to manufacture scooters based on the latest technology sourced from Honda Motor Company. In 1998 it raised its stake in Kinetic Honda Motor Ltd (KHML) to 70 per cent as per the agreement signed with Honda Motor Co, thereby making it a subsidiary. The company also promoted three jointventure finance companies, namely 20th Century Kinetic Finance, Integrated Kinetic Finance and Kinetic Capital Finance.In 1992, the company indigenously developed a unique colour television set based on digital technology. The company has developed microprocessor decks which, when interfaced, would enable a TV to function as a home computercumhifistereo. In 1995, the company introduced Kinetic Merlin TVKomtutor, which has three calculators simple, scientific and function built into it.It introduced the 73cc Pride in 1994. At present it produces four models Luna, Spark, Safari and Pride. It produces auto components commercially. During 199697, KEL launched a new version of Pride Pride Fx, K4100 a four stroke step through motorcycle and a new look Safari which has been renamed as Safari V2.The company has embarked upon a project to manufacture a car (500cc) priced at Rs 1.25 lacs. Production is expected to commence in 199798. A separate company, Kinetic Transportation Products Ltd (KTPL), has been formed to deal with elevators, escalators and auto parking garage in collaboration with M/s Hyundai Elevator Co Ltd, South Korea. The business related to electronics is being spun off into another separate company, Kinetic Communications Ltd.During the year 19992000, the company has received Export Excellence Award from Engineering Export Promotion Council consecutively for the third time. Also the companys Koregaon Bhima factory has been awarded the Lowest Accident Frequency Rate Award for the year 1998 by the National Safety Council.Kinetic Challengermotorcycle was introduced during 20002001.The special features of this motorcycle lean burn engine technology for fuel efficiency,resonator induction for excellent pick up and low levels of noise etc.Two new models Kinetic V280 and Luna Super 70 with higher fuel efficiency were also introduced during the year.New products like Challenger was introduced in both existing as well as new export markets during 200102. It launched new vehicles such as Boss, GF125, Nova and Zing in 200203 launched four new models viz. Boss 115, Velocity, GF170 City and GFLaser in 200304 launched the 250cc High Performance bike COMET 250 in collaboration with Hyosung Motors of South Korea in 200405. Reliance Capital Limited acquired 14.81% equity stake in the Company in 200405. In 200506, the Company completed major restructuring of business and disposed off its Two Wheeler manufacturing Unit, Supa Undertaking on slump sale basis Kinetic Motor Company Limited (KMCL) for consideration of Rs 53.50 Crores. KMCL, towards discharge of a part of purchase consideration, allotted Convertible / Optionally Convertible / Redeemable Preference shares to KEL of an aggregate amount of Rs. 30 crores. Kinetic Motor Company Limited ceased to be the Subsidiary of Company consequent upon KMCLs Capital restructuring during 2006. In 200809, the Scheme of Arrangement between Jaya Hind Sciaky Limited, the Company and Kaygee Auto Products Private Limited was made and in terms of the said Scheme, the Auto Component business and Investments (the Remaining Undertaking) of Jaya Hind Sciaky Limited got merged with the Company. The Company further issued and allotted 17,82,774 equity shares to the shareholders of Jaya Hind Sciaky Limited through the Scheme of Merger. The Company commenced supplies of transmission gears for Tata Nano from September 2009.During 201617, the Company productionised and ramped up sleeves and dog teeth components for global major Renault Nissan it commenced the production for a 380 NM gearbox.