Latest Release

NK MINDA GROUP VENTURES INTO MANUFACTURING OF AUTOMOTIVE SAFETY COMPONENTS Forms a Joint Venture with Toyoda Gosei and Toyota Tsusho of Japan

USD 361 mn NK Minda Group, the technology leader in Auto Components Industry, has entered into a 82.1:5:12.9 Joint Venture (JV), with Toyoda Gosei Co., Ltd., Japan and Toyota Tsusho Corporation, Japan. More...

Year 2011

New Delhi September 7, 2011

NK MINDA GROUP INAUGURATES NEW PLANT IN MANESAR, GURGAON Plant to Manufacture Painted wheel Covers

NK Minda Group, the USD 403 mn technology leader in Indian Auto Components Industry, has inaugurated its new plant in Manesar, Gurgaon. This plant will use a superior quality Japanese process, for production of painted wheel covers for Indian OEMs manufacturing four wheelers. The plant was inaugurated by Mr. S. Maitra, CEO, Supply Chain, Maruti Suzuki India Limited (MSIL). More...

New Delhi April 6, 2011

N K MINDA GROUP OPENS DESIGN CENTRE IN TAIWAN

N K Minda Group, the USD 403 mn technology leader in the Indian Auto Components Industry, announced today that it has opened a state-of-the-art Design Centre in Taiwan, after procuring all necessary licences from the Taiwan Government. The opening of the Design Centre in the city of Tainan is strategic to Minda's self reliance initiatives, for which it has invested approximately USD 783 K. More...

Year 2010

New Delhi December 15, 2010

N K Minda Group joins hands with Kosei Aluminum

N K MINDA Group, the USD 380 mn technology leader in Auto Components Industry, and Kosei Aluminum Co., Ltd., a leading manufacturer of Alloy Wheels in Japan, today announced the formation of 40:60 equity Joint Venture (JV). The signing ceremony on December 6, 2010 was held in Kosei's head office in Toyota City, Aichi Prefecture, Japan. The new JV was signed off by the CMD of Minda Industries Limited., Mr. Nirmal K Minda and the President and CEO of KOSEI, Mr. Shunkichi Kamiya. More...

New Delhi May 28, 2010

Equity Shareholders and Creditors to approve the Scheme of Amalgamation of Minda Autogas Ltd. with Minda Industries Ltd.

An order dated May 28, 2010, passed by the Hon’ble High Court of Delhi at New Delhi in Company application (M) No. 102 of 2010 has directed that the meetings of the Equity Shareholders of Minda Industries Ltd. (Transferee Company) and the Secured Creditors and Unsecured Creditors of Minda Industries Ltd. (Transferee Company) and Minda Autogas Ltd. (Transferor Company)   will     be   held on June 28, 2010 at 10.00 a.m. onwards at B-64/1, Wazirpur Industrial Area, Delhi-110052,  for the purpose of considering, and if thought fit, approving with or without modification, the proposed scheme of amalgamation of the Company.

Year 2009

New Delhi September 24, 2009

NK MINDA Group, the Rs.1,350 crore auto components major, and EMER spa, Italy, owned by Palladio Finanziaria investment bank, today announced the formation of an equity joint venture to design, produce and sell alternate fuel systems and components for India and multiple global customers. More...

Year 2008

New Delhi October 24, 2008

Minda Industries Limited (MIL), the flagship company of the Rs.1000 crore NK Minda Group, announced its unaudited financial results for the quarter ended 30th September 2008. More...

New Delhi September 05, 2008

MindaRika and Minda Industries Limited, group companies of N K Minda Group won the Gold trophy in Manufacturing and Technology at the 48th ACMA, Annual Session and National Conference at New Delhi. More...

Bangalore / New Delhi September 01, 2008

Minda Industries Limited (MIL), the listed arm of the Rs.1000 crore NK Minda Group today announced the opening of its latest factory at Bidadi, Bangalore for the manufacture of Blow Moulding Parts. More...

Year 2007

New Delhi 2007

Minda Industries Limited wins the National R&D Award 2007 by Department of Scientific & Industrial Research, Ministry of Science & Technology More...

New Delhi October 24, 2007

Minda Industries Limited (MIL), India’s largest manufacturer of 2-3 wheeler automotive switches, announces financial results for Q2 of 2007-2008 Sales grow by 31.24 %; PAT up at Rs. 428.74 lakh More...

New Delhi July 27, 2007

Minda Industries Limited (MIL), India’s largest manufacturer of 2-3 wheeler automotive switches, announces financial results for Q1 of 2007-2008 Sales at 9155.41 lakhs; PAT up at. 269.18 lakh More...

New Delhi July 24, 2007

NK Minda Group announces its foray into Starter Motors & Alternators in a joint venture with Valeo of France To set up the manufacturing facility at chakan,Pune More...

New Delhi May 28, 2007

Minda Industries Limited (MIL), the flagship company of the Rs. 775 crore NK Minda Group, announced its audited annual results for the year 2006-2007. The sales for the year 2006-2007 clocked an impressive growth of over 44.22 % from the FY 2006-2007. The net sales grew from 268.05 Crore in FY 2005-2006 to Rs. 386.60 crore in FY 2006-2007. More...

New Delhi February 15, 2007

Minda Industries Limited, the flagship company of the Rs. 545 crore NK Minda Group, was awarded the Automotive Component Manufacturer of the Year 2007 at a glittering ceremony at New Delhi last evening, by The Auto Monitor. The Auto Monitor Award for received by Mr. NK Minda, Managing Director, Minda Industries Limited. More...

New Delhi February 02, 2007

India's largest manufacturer of 2/3 wheeler switches. will now be traded on NSE as well. The shares of Minda Industries Limited (MIL) the flagship company of NK Minda group was today listed on the National Stock Exchange, vide their circular dated 31st January 2007. More...

New Delhi January 29, 2007

Minda Industries Limited (MIL), India’s largest manufacturer of 2-3 wheeler automotive switches, announces financial results for Q3 of 2006-2007 Sales grow by 44.76 %; PAT grows by 14.25 % to Rs.411.72 lakh More...

Year 2006

New Delhi July 26, 2006

Minda Industries Limited (MIL), India’s largest manufacturer of 2-3 wheeler automotive switches, announces financial results for Q1 of 2006-2007. Sales grow by 44.7 %; PAT grows to Rs. 261.38 lakh More…

New Delhi July 24, 2006

Minda Industries Limited (MIL) announces its foray into Automotive Batteries in collaboration with FIAMM S.p.A, Italy. To invest Rs.40 Crore in setting up Battery Unit at Pantnagar, Uttranchal More…

New Delhi June 03, 2006

Minda Industries Limited(MIL), India’s largest manufacturer of 2-3 wheeler automotive switches, announces audited financial results for FY 2005-2006. Sales grow by 36.58 %; PAT grows by 26.82 %; EPS grows by 27.68% More…

Press Release
New Delhi
December 2, 2011

NK MINDA GROUP VENTURES INTO MANUFACTURING OF AUTOMOTIVE SAFETY COMPONENTS

New Delhi, India and Aichi, Japan; Friday, December 02, 2011; USD 361 mn NK Minda Group, the technology leader in Auto Components Industry, has entered into a 82.1:5:12.9 Joint Venture (JV), with Toyoda Gosei Co., Ltd., Japan and Toyota Tsusho Corporation, Japan.

The JV Company, to be named Toyoda Gosei Minda India Pvt. Ltd, subject to ROC approval, will develop, manufacture and sell automotive safety components like Steering Wheels, Airbags and Body Sealing parts for major Indian car manufacturers. The new JV was signed off by Nirmal K Minda, CMD of Minda Industries Limited., and T Arashima, President of Toyoda Gosei Co., Ltd., Japan in end October.

A key feature of the JV is the availability of top-notch Japanese technology of ‘Integrated Rubber Parts Production’, which Toyoda Gosei will bring to this joint venture, in order to ensure its cost competitiveness in the Indian market. This process is targeted to start production from May 2012 in Neemrana plant, where manufacturing of safety parts is already ongoing. The JV will also establish a new plant in Bangalore within two years.

The capital of this Joint Venture is US$ 30.8 mn (INR 1590 mn), in which Toyoda Gosei Co., Ltd. will hold 82.1% stake, Toyota Tsusho Corporation will hold 5% stake and Minda will hold 12.9% stake, with an option to increase its share to 44% in the next three years.

On this occasion Nirmal K Minda, CMD of NK Minda Group, said, “Diversification is the key to growth in global markets. We have a vision to be a preferred supplier to major OEMs across the world. This Joint venture is an important step towards that vision.” He further added, “We are delighted to partner with Toyoda Gosei, a leading innovative auto component manufacturer, and see this as a great opportunity for introducing new technologies to Indian OEMs.”

Brief highlights of the Joint Venture

Company: TOYODA GOSEI MINDA INDIA PVT. LTD.
CEO Name: Mr. H Fukamachi
Capital: 1590 million rupees (Approx. 2390 million yen)
Investment amount: 1590 million rupees (Approx. 2390 million yen)
Investment ratio: Toyoda Gosei Co., Ltd.：82.1%
Minda Investment Limited：12.9%
Toyota Tsusho Corporation： 5.0%
Products: Safety Parts like Steering Wheels, Airbags and Body Sealing Parts for automobiles.

About Toyoda Gosei

Founded in 1949, Toyoda Gosei is a customer-driven, global company that researches, develops and manufactures products of exceptional quality for a variety of industries, from automotive to agriculture to telecommunications. With headquarters in Aichi, Japan; Troy, Michigan, U.S.A, Zaventem, Belgium and Chonburi, Thailand, the company is a world-class supplier to the automotive industry. Toyoda Gosei’s five product categories include: Body Sealing Systems, Interior / Exterior Systems, Optoelectronics, Fuel System / Functional Parts and Safety Systems. The TG Group employs over seventeen thousand people in seventeen countries, located in fifty-eight facilities worldwide. Key automotive OEM customers include Toyota, General Motors, DaimlerChrysler, Ford, Honda, Isuzu, Mitsubishi, and Nissan.
For more information please visit http://www.toyodagosei.com.

About N K MINDA Group
NK Minda Group, a technology leader in Auto Components Industry, is a leading supplier of proprietary automotive solutions to OEMs as Tier-1. It manufactures Switches, Electric Mirrors, Horns, Lamps, Blow molding Components, Electronics and Sensors, CNG-LPG Kits, Alloy Wheels, Air Filtration Systems, Seat Belts, Batteries, Die Casting Components and Wheel Covers for Original Equipment Manufacturers (OEMs). It is today a US$361mn group and is rapidly expanding with increased market share in its product lines.

NK Minda Group is a global player in automotive sector with manufacturing facilities in Indonesia and Vietnam and Offices in Japan, Europe and China. It has 27 manufacturing plants in India and has JVs/Technical Agreements with world renowned manufactures such as Tokai Rika- Japan, Kyoraku –Japan, EMER – Italy, Roki - Japan and Kosei - Japan. Our continuous effort is to deliver high technology and quality products to our valued customers such as MSIL, TML, TKML, M&M, BAL, TVS, HHML, HMSI, HSCIL, VW, GMIL, FIPL, RNPO, IYM etc.
For more information please visit www.mindagroup.com

Note: This document contains forward-looking statements about Toyoda Gosei, Toyota Tsusho and NK Minda Group, which are based on the beliefs, opinions and expectations of the company’s management as the date of this press release and the companies do not assume any obligation to update their forward looking statements if those beliefs, opinions, expectations, or other circumstances should change, These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. Consequently, readers should not place any undue reliance on such forward-looking statements.

For further inquiries, please contact:
For NK Minda Group
Anju Makin
Alchemy Corporate Communications
Cell: +91-9810170135
anju_makin@alchemycc.com

 

 

Press Release
New Delhi
September 7, 2011

NK MINDA GROUP INAUGURATES NEW PLANT IN MANESAR, GURGAON

NK Minda Group, the USD 403 mn technology leader in Indian Auto Components Industry, has inaugurated its new plant in Manesar, Gurgaon. This plant will use a superior quality Japanese process, for production of painted wheel covers for Indian OEMs manufacturing four wheelers. The plant was inaugurated by Mr. S. Maitra, CEO, Supply Chain, Maruti Suzuki India Limited (MSIL).

NK Minda Group has invested approx. Rs. 5 crores (USD 1 million) in this plant. The start of production (SOP) is set to be in January 2012 with a set annual volume of 1, 20,000 pieces and installed capacity of 6, 00,000 pieces wheels annually. However within the same space and paint facility and with increase in moulding machines, capacity can also be enhanced to thrice over. The plant is expected to reach the break-even point by the year 2013-14.

The production and sale of these wheel covers will be taken care of, by two separate JV companies. Mindarika Pvt. Ltd. (MRPL), a group company of NK Minda Group, will manufacture the painted wheel covers, and Tokai Rika Minda India Pvt. Ltd. (TRMN) will be responsible to supply it to OEMs. MRPL and TRMN are existing Joint Ventures between Minda Industries Limited and Tokai Rika, Japan.

In MRPL, Minda Industries Limited holds a share of 63% and Tokai Rika holds 37%, whereas for TRMN it is 30% and 70% respectively. These joint ventures were formed with an aim to introduce new products in markets, other than automotive switches. Both TRMN and MRPL are looking forward to be in the top three suppliers of ‘Painted Wheel Covers’ market.

Commenting on the announcement, Mr Nirmal Kr. Minda, CMD of NK Minda Group said, “The wheel cover market has a potential to reach Rs. 100 crores (USD 20 million) in the near future. MRPL has the technical competence and capability to manufacture wheel covers of varied thickness, up to 1.2mm, over and above its contemporaries. This gives a weight reduction advantage to OEMs. Tokai Rika, Japan is an established player in the field of wheel covers and provides full technical support to the JV companies. It is a major supplier of wheel covers to most OEM’s in Japan.”

NK Minda Group has already received and developed an order from Maruti Suzuki India Ltd. (MSIL), which will be in SOP by last quarter of Year 2011.The group also has potential RFQs in advanced stages of discussions with other OEMs.

Mr Nirmal Kr. Minda, further elaborated, “In this rapidly expanding market, there is a huge potential for expansion of players with proven technology. Mindarika might evaluate further investments in tooling to serve the aftermarket. However the current focus of the company is to develop more designs for OEMs.”

About N K MINDA Group
NK Minda Group, a technology leader in Auto Components Industry, is a leading supplier of proprietary automotive solutions to OEMs as Tier-1. It manufactures Automotive Switches, Electric Mirrors, Automotive Horns, Automotive Lamps, Blow molding Components, Electronics and Sensors, CNG-LPG Kits, Alloy Wheels, Air Filtration Systems, Seat Belts, Batteries, Die Casting Components and Wheel Covers for Original Equipment Manufacturers (OEMs). It is today a USD 403 Million group and is rapidly expanding with increased market share in its product lines.

NK Minda Group is a global player in automotive sector with manufacturing facilities in Indonesia, Vietnam, and a design centre in Taiwan with offices in Japan, Europe and China. It has 26 manufacturing plants in India and has JVs/Technical Agreements with world renowned manufactures such as Tokai Rika- Japan, Kyoraku –Indonesia, EMER – Italy, Roki - Japan and Kosei - Japan. Our continuous effort is to deliver high technology and quality products to our valued customers such as MSIL, TML, TKML, M&M, BAL, TVS, HHML, HMSI, HSCIL, Volkswagen, GMIL, FIPL, RNPO, YAMAHA etc. More information on www.mindagroup.com

 

 

Press Release
New Delhi
April 6, 2011

N K MINDA GROUP OPENS DESIGN CENTRE IN TAIWAN

N K Minda Group, the USD 403 mn technology leader in the Indian Auto Components Industry, announced today that it has opened a state-of-the-art Design Centre in Taiwan, after procuring all necessary licences from the Taiwan Government. The opening of the Design Centre in the city of Tainan is strategic to Minda's self reliance initiatives, for which it has invested approximately USD 783 K.

With the opening of this Design Centre, N K Minda group has extended its Engineering wing for designing and developing automotive lighting products. The Design Centre will give a necessary fillip to the group's expertise in optical and mechanical designing of automotive lamps, in addition to capitalising on the strategic advantage of Taiwan as an established and high quality, yet cost effective, destination for tooling.

A mature Auto Lighting Industry and a vast and good quality supplier base, as well as proximity to China and Japan, makes Taiwan an ideal choice for establishing this centre. Inauguration of the Minda Design Centre is a major milestone for Minda in its thrust to provide high quality products to the Indian Auto Industry.

Commenting on the occasion Mr. Nirmal Kumar Minda, CMD of N K Minda Group, said, "Setting up a Design Centre in Taiwan is a major initiative for us and has been taken to interface with Taiwan supplier community and program managers. It will give us an easy access to product designing capabilities, tool making and machine development."

Minda has an excellent rapport with the Taiwan supplier community, due to continuous resident engineer interaction. This centre in Taiwan will make designing cost competitive, while ensuring faster turnaround times, which will help the company to service the Indian automobile market proactively by creating their own capability in Designing & Simulation. In addition, the Design Centre will act as an interface between Taiwan suppliers and program managers, while also sourcing new suppliers for design, simulation, tooling, fixtures, Special Purpose Machines, raw material and other parts.

About N K MINDA Group
N K Minda Group, a technology leader in Auto Components Industry, is a leading supplier of proprietary automotive solutions to OEMs as Tier-1. It manufactures Switches, Electric Mirrors, Horns, Lamps, Blow molding Components, Electronics & Sensors, CNG-LPG Kits and Batteries for Original Equipment Manufacturers (OEMs). It is today a USD 403 Million group and is rapidly expanding with increased market share in its product lines.

N K Minda Group is a global player in automotive sector with manufacturing facilities in Indonesia and Vietnam and Offices in Japan, Europe and China. It has 24 manufacturing plants in India and has JVs/Technical Agreements with world renowned manufactures such as Tokai Rika- Japan, Kyoraku –Indonesia, EMER – Italy and Kosei - Japan. Our continuous effort is to deliver high technology and quality products to our valued customers such as MSIL, TML, TKML, M&M, BAL, TVS, HHML, HMSI, HSCIL, VW, GMIL, FIPL, RNPO, IYM etc. More information on www.mindagroup.com

 

 

Press Release
New Delhi
December 15, 2010

N K Minda Group joins hands with Kosei Aluminum

N K MINDA Group, the USD 380 mn technology leader in Auto Components Industry, and Kosei Aluminum Co., Ltd., a leading manufacturer of Alloy Wheels in Japan, today announced the formation of 40:60 equity Joint Venture (JV). The signing ceremony on December 6, 2010 was held in Kosei's head office in Toyota City, Aichi Prefecture, Japan. The new JV was signed off by the CMD of Minda Industries Limited., Mr. Nirmal K Minda and the President and CEO of KOSEI, Mr. Shunkichi Kamiya.

The Joint venture company, subject to the approval of the ROC (Registrar of Companies), in India shall be named KOSEI MINDA ALUMINUM CO. LTD., and will be established in Chennai. The JV Company is to engage in the development, manufacturing and sales of aluminium alloy wheels and precision aluminium die casting parts for major OE car manufacturers. The Start of Production (SOP) is set to be in summer of 2012 with a set annual volume of 300,000 pieces and from year 2014 it will increase to 600,000 pieces wheels annually.

The JV Company shall have an authorized capital of 500 million rupees with an equity share of 60% -40% of KOSEI and MINDA respectively. The initial investment and the most important aspect of the JV is the availability of top-notch Japanese technology in aluminium casting, which KOSEI will infuse in this joint venture.

In order to cover the broad market opportunities in India, KOSEI and MINDA will establish another joint venture on the outskirts of Gurgaon in Northern India and in this case MINDA will hold the majority share.

“We are delighted to partner with Kosei and are confident that this JV will create a very strong local production base to offer market-leading, technology intensive Alloy wheels and Aluminium Die Casting Parts to India and global OEMs. With the complementary skills and experience brought to the new venture by both Kosei and Minda, we look forward to a successful launch of this Joint Venture,” said Nirmal K Minda, CMD of N K Minda Group.

KOSEI has a strong base supply from its overseas companies in China, Philippines and Thailand. At the moment, KOSEI Japan and overseas has a combined annual production capacity of 3 million pieces wheels and due to the rapid growth in the market in India, the development of this fourth base in the overseas is very necessary.

Brief highlights of the Joint Venture
Company: KOSEI MINDA ALUMINUM COMPANY LIMITED
Chief Executive Officer: Mr. Masayoshi Inomata (currently, Trustee member of Board)
Capital: 500 million rupees (Approx. 10 billion yen)
Investment amount; 8.4 billion rupees (16 billion yen)
Investment ratio: 40% Kosei Aluminum Co., Ltd.,
                             20% Kosei Aluminum (Thailand)
                             40% NK MINDA Group
Product; Aluminum wheels for automobiles

About N K MINDA Group
N K Minda Group, a technology leader in Auto Components Industry, is a leading supplier of proprietary automotive solutions to OEMs as Tier-1. It manufactures Switches, Electric Mirrors, Horns, Lamps, Blow molding Components, Electronics & Sensors, CNG-LPG Kits, Batteries & Seats for Original Equipment Manufacturers (OEMs). It is today a USD 380 Million group and is rapidly expanding with increased market share in its product lines.

N K Minda Group is a global player in automotive sector with manufacturing facilities in Indonesia and Vietnam and Offices in Japan, Europe and China. It has 21 manufacturing plants in India and has JVs/Technical Agreements with world renowned manufactures such as Tokai Rika- Japan, Soft Italia- Italy, Kyoraku –Indonesia, EMER - Italy. Our continuous effort is to deliver high technology and quality products to our valued customers such as Maruti Suzuki, Tata Motors, Toyota Kirloskar, Mahindra, Bajaj Auto, TVS, Hero Honda, HMSI, HSCIL, Volkswagen, GMIL, FIPL, RNPO, YAMAHA etc. More information on www.mindagroup.com

Note: This document contains forward-looking statements about Kosei and MINDA, which are based on the beliefs, opinions and expectations of the company’s management as the date of this press release and the companies do not assume any obligation to update their forward looking statements if those beliefs, opinions, expectations, or other circumstances should change, These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. Consequently, readers should not place any undue reliance on such forward-looking statements.

For further inquiries, please contact:
Anju Makin
Alchemy Corporate Communications
Cell: +91-9810170135
anju_makin@alchemycc.com

 

 

Press Release
New Delhi
September 24, 2009

NK MINDA Group, the Rs.1,350 crore auto components major, and EMER spa, Italy, owned by Palladio Finanziaria investment bank, today announced the formation of an equity joint venture to design, produce and sell alternate fuel systems and components for India and multiple global customers.

The new company, which will be jointly controlled, will be headquartered in New Delhi, India and will exploit the global design, production and distribution strengths of parent companies to deliver gas fuel systems to the global market. EMER will support the new venture through supply of technology, design and testing; MINDA will provide production competencies and market development services.

Minda-EMER kits will be manufactured at Manesar and an investment of Rs.40 crore over the next three years is envisaged in the JV. The first Minda – EMER kits will be available in India in March 2010. The production facility will have an installed capacity of 500,000 parts including 120,000 systems / kits annually by 2012. By 2012, the company will achieve 80% localization.

The Joint venture besides producing and supplying kits to the OEM’s will also manufacture kits for the retail market for retrofitting. The Minda-Emer kits will incorporate the latest technological advancements available globally to provide cost effective and innovative solutions for LPG, CNG and HCNG systems.

“We believe the Indian market for vehicles and industrial engines operating on low carbon fuels such as natural gas will continue to grow rapidly. Our new partnership with Minda will create a unique company with a strong production local base to provide market-leading high performance alternate fuel systems to customers in India and around the world. With the complementary skills and experience brought to the new venture by its founding parents, we look forward to the successful launch of a major new initiative in the alternate fuels industry” said Sergio Ravagli, EMER’s President of the Board.

Minda has expertise in offering alternate fuel solutions and is the only organised player in India to have manufacturing facilities. Minda fuel kits are already a part of the “green fuel revolution” in India and are part of the standard CNG and LPG offerings in Santro and Wagon R Duo.

“Our experience in the alternate fuels vehicle business suggests that the world is on the threshold of a major expansion of the use of these fuels, and our customers are asking us for more help in rapidly developing high-quality, reliable and economical alternate fuel products for their own markets. MINDA’s experience and reputation for advanced technology, added to our leadership position in manufacturing and market support, can deliver what the market needs” said NK MINDA, Chairman of NK MINDA Group

About EMER spa
EMER, established in 1975, is based in Brescia, Italy and is a leading global player in the Alternate Fuel Vehicles (AFV) sector. EMER designs, manufactures and markets complete fueling systems for new vehicles and for the aftermarket conversion of engines from gasoline (petrol) and Diesel to CNG, LPG, HCNG and has developed specific competencies on Hydrogen applications. Since 1997, EMER has been part of several OEMs alternate fuels projects and today EMER is tier1 privileged supplier to some of the most important manufacturers of engines and vehicles worldwide, including Maruti Suzuki, Tata, Volkswagen, Citroën, Isuzu and Fiat. EMER has production facilities in Europe and South America and a global distributorship network. www.emer.it

About Minda Industries Limited
MINDA is a leading automotive supplier of proprietary solutions to OEMs as Tier-1. MINDA manufactures Switches, Electric Mirrors, Horns, Lamps, Alternator-Starters, Blow molding Components, Electronics & Sensors, CNG-LPG Kits, Batteries & Seats under its brand name. NK MINDA Group today is $270 Million and looking ahead to grow with increased market share in its product lines.

MINDA is a global player in automotive sector with its manufacturing facilities in Indonesia and Vietnam and Offices in Japan, Europe and China. NK MINDA Group has 20 manufacturing units in India.

NK MINDA Group has JVs/Technical Agreements with world renowned manufactures such as Tokai Rika- Japan, FIAMM -Italy, Soft Italia- Italy, Valeo-France, Kyoraku -Indonesia & TYC Brothers- Taiwan. Our continuous effort is to deliver high technology and quality products to our valued customers such as Maruti Suzuki, Tata Motors, Toyota Kirloskar, Mahindra, Bajaj Auto, TVS, Hero Honda, HMSI, HSCIL, Volkswagen, GMIL, FIPL, RNPO, YAMAHA etc
www.mindagroup.com

Note: This document contains forward-looking statements about EMER and MINDA, which are based on the beliefs, opinions and expectations of the company’s management as the date of this press release and the companies do not assume any obligation to update their forward looking statements if those beliefs, opinions, expectations, or other circumstances should change, These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. Consequently, readers should not place any undue reliance on such forward-looking statements.

Inquiries:
info@emer.it
info@minda.com

 

 

Press Release
New Delhi
October 24, 2008

Minda Industries Limited (MIL), the flagship company of the Rs.1000 crore NK Minda Group, announced its unaudited financial results for the quarter ended 30th September 2008.

The sales for Q2 in 2008-2009 were Rs. 12,779.00 lakh up from Rs.10,913.87 lakh in Q2 2007-2008 marking an increase of 17% over last year.

Profit after tax was up to Rs. 332.09 lakh in the same quarter.

The earning per share was Rs. 3.16 in the quarter ended June 30, 2008.

“Our topline has grown 17% over last year, which given the circumstances is a very good figure. We have managed to bring about better productivity within our facilities by focusing on increased efficiency, so the recessionary economy has not impacted our bottomline much. We are hopeful that the things will improve and will ease the pressure on our bottomline shortly” says Mr. N.K. Minda, Chairman & Managing Director, Minda Industries Limited.

MIL is the country’s largest manufacturer of switches in the 2/3 wheeler segment and is amongst the top few globally.

About Minda Industries Limited
Minda Industries Limited (MIL) designs, develops and manufactures switches for 2/3 wheelers and off-road vehicles. It also manufactures lighting and batteries for automobiles (2/3 & 4 wheelers). MIL has also entered into Blow Moulding for which it is setting up a plant at Bidadi near Bangalore in Karnataka, in Technical Agreement with Kyoraku of Japan. MIL is a Rs. 3961 million (US $ 95 million) company and is on a rapid expansion spree. It is geared to take on global competition and is spreading its wings into the ASEAN market where it has already established itself. It is on its way to becoming the favoured vendor for 2/3 wheeler switches and Lighting globally.

Minda Industries has its manufacturing plants in Manesar, Baddi, Pune, Aurangabad, Pantnagar and Bidadi and has over 2800 employees. NK Minda Group also has a manufacturing facility in Indonesia, looking after the ASEAN market.

About NK Minda Group
NK Minda Group is India’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 238 million (over Rs.1000 Crore) and is a leading supplier to Original Equipment Manufacturers.

The NK Minda Group product profile comprises of Switches for 2 / 3 wheelers, switches for 4 wheelers, Lighting, Horns, Batteries, Alternate Fuel kits, Mirrors, Blow Molding, Electronic Starter Motors & Alternators and Electronic BCU’s. NK Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan; Fiamm S.p.A, Italy; Valeo, France and Kyoraku, Japan.

For more information, please contact:

Media Contact
Sunil Kumar Singh / Shriya Jain
finesse PR
+91 11 43056200 (30 lines)
sunil@finessepr.com
shriya@finessepr.com

Analysts / Investor Relations
Amit Azad
finesse PR
27022460 / 27013586
amitazad@finessepr.com

 

 

Press Release
New Delhi
September 05, 2008

N K Minda Group, one of the foremost manufacturers of automotive components in the country, was awarded for excellence in Technology and Manufacturing sector at the 48th ACMA, Annual Session and National Conference at The Ashok, Chanakyapuri, New Delhi. The awards were received by Mr N K Minda Group, CMD, N K Minda Group.

MindaRika, the country’s largest four wheeler switches manufacturer and a joint venture with Tokiarika of Japan, won the ACMA award for excellence in Manufacturing.

Minda Industries Limited won the award for excellence in Technology sector. Minda Industries Limited is the flagship company of the NK Minda Group that designs, develops, manufactures switches for 2/3 wheelers and off road vehicles.

The ACMA awards salute excellence by automotive Manufacturers in their respective fields. This time there was a stiff competition between the competitors. Lumax Industries limited and Tata Johnsons Control Automotive Limited were awarded the silver trophy in manufacturing, where as Clutch Auto limited was given the silver trophy in technology division. Subros managed to grab the bronze trophy in manufacturing sector, while Sundaram Fasteners Limited was given the bronze trophy in technology.

Shri Santosh Mohan Dev, Hon’ble Minister for Heavy Industries and Public Enterprises was invited as the chief guest and Mr R C Bhargava- Chairman, Maruti Suzuki India Ltd was present there as the guest of honour.

“It is our endeavour to constantly improve and innovate and we are happy that our contributions are being acknowledged by our peer group. The ACMA awards for two of our group companies are a vindication of our belief that the focus on R&D and technology always pays in the long run”, says Mr. Nirmal k Minda, Chairman & Managing Director, NK Minda Group.

Minda Group has been consistently offering innovative products. N K Minda Group spends 3% of its annual turn over on R&D efforts so that it can remain ahead in technology. N K Minda Group was the first to set up its R&D facility in Japan. Also, in order to cater to the Asean countries, Minda Group has office in Indonesia as well. Recently N K Minda Group has forayed into the manufacturing of Seat Belts, locks and immobilizers so that it can cater to a wider market. They are also planning to increase their R&D expenditure to around 6%-7%.

About NK Minda Group
NK Minda Group is India’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 238 million (over Rs.1000 Crore) and is a leading supplier to Original Equipment Manufacturers.

The NK Minda Group product profile comprises of Switches for 2 / 3 wheelers, switches for 4 wheelers, Lighting, Horns, Batteries, Alternate Fuel kits, Mirrors, Blow Moulding, Electronic Starter Motors & Alternators and Electronic BCU’s. NK Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan; Fiamm S.p.A, Italy; Valeo, France; and Kyoraku, Indonesia.

 

 

Press Release
Bangalore / New Delhi
September 01, 2008

Minda Industries Limited (MIL), the listed arm of the Rs.1000 crore NK Minda Group today announced the opening of its latest factory at Bidadi, Bangalore for the manufacture of Blow Moulding Parts. The facility has been set up in technical collaboration with Kyoraku, Indonesia and will supply blow moulded plastic parts to OEMs including Toyota.

MIL will invest a total of Rs.25 crore in the facility, out of which Rs.10 crores have already been invested. The company is targeting Rs.50 Crore topline from this venture in the next few years. The factory has come up in a 2 acre plot with 40,000 sq. ft. of covered area. The installed capacity of the plant is 6,00,000 parts per annum.

On the occasion, Mr. Nakagawa, Managing Director, Toyota Kirloskar Motors lauded the NK Minda Group’s commitment to quality and assured the Group of Toyota’s full support in its latest venture. He further said that “he hoped that the world will soon recognise India’s prowess as an automobile manufacturing hub.”

Mr. Nirmal K Minda, Managing Director, Minda Industries Limited said “it is a conscious effort on our part to add value added products to our product portfolio and blow moulding parts are the latest addition to this”. He further added that despite the present pessimistic scenario of the auto sector in the country, the future ahead for the sector is very bright and as Indian manufacturers improve quality and embrace technology, the world will soon realise India’s potential as the next global auto manufacturing hub.

Discussing the scenario about the auto component sector he also highlighted the fact that the NK Minda group is going ahead with its plans of expansion aggressively and expressed his confidence that MIL and the Group will both achieve the targeted growth rate of 30% plus in the present financial year.

Kyoraku, the technical collaborator in the Minda Blow Moulding Plant, is a US $400 million group and has strong client base in Japan and Indonesia for its blow Moulding parts. It is a leader in the ASEAN region for this.

Mr. Takayama from Kyoraku, Indonesia who was present at the occasion said that Kyoraku would provide MIL with the latest technology and will help it to keep abreast of the newest innovations that are happening in the field. He added that Kyoraku will provide MIL with all the help required to make MIL the category leader in this segment also.

About Minda Industries Limited:
Minda Industries Limited (MIL) designs, develops and manufactures switches for 2/3 wheelers and off-road vehicles. It also manufactures lighting and batteries for automobiles (2/3 & 4 wheelers)

MIL is a Rs. 3961 million (US $ 95 million) company and is on a rapid expansion spree. It is geared to take on global competition and is spreading its wings into the ASEAN market where it has already established itself. It is on its way to becoming the favoured vendor for 2/3 wheeler switches and Lighting globally.

Minda Industries has its manufacturing plants in Manesar, Sonepat, , Pune, Aurangabad, Pantnagar and Bidadi and has over 2800 employees. NK Minda Group also has a manufacturing facility in Indonesia, looking after the ASEAN market.

About NK Minda Group
NK Minda Group is India’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 238 million (over Rs.1000 Crore) and is a leading supplier to Original Equipment Manufacturers.

The NK Minda Group product profile comprises of Switches for 2 / 3 wheelers, switches for 4 wheelers, Lighting, Horns, Batteries, Alternate Fuel kits, Mirrors, Blow Moulding, Electronic Starter Motors & Alternators and Electronic BCU’s. NK Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan; Fiamm S.p.A, Italy; Valeo, France; and Kyoraku, Indonesia.

 

 

Press Release
Intelligent self cancellation blinkers wins the R&D Award for mechanical engineering

Minda Industries Limited has been declared as the Winner of the prestigious National R&D Award 2007 by the Department of Scientific & Industrial Research, Ministry of Science & Technology, Government of India. The company has been awarded for its outstanding contribution to the field of mechanical engineering.

MIL had been focusing for the development and commercialization of “Intelligent Non-Contact Handle Bar with Self Cancellation Blinkers” for the last few years. The Company has designed a completely new Handle bar control system for Motorcycles. The control system includes Left hand side handle bar switch, Right hand side handle bar switch, Mounting Bracket assembly for Self-cancellation blinker and electronic body control Unit for motorcycles.

MIL has become the first automotive component player in the world to design Non contact switching in Handle bar switches in the two-wheelers. MIL has also become the first player in India which has illuminated the symbols in Handle bar switches in two-wheelers. The company has created the Self-cancellation blinker mechanism and this is the first time for any bike lower than 200cc in the World. The company has also applied the Electronic Body control unit for control systems for the first time in India in any two-wheeler.

The product has brought a complete new business worth Rs.30 crore within 6 months of its commercialization from Bajaj Auto Ltd. The company has got this business keeping competition out and creating a completely new market. This has created new jobs, has got huge export potential, broadened the IPR Portfolio of the organization and started a new era of Electronic control system for Motorcycles.

The NK Minda group is consciously focusing on its R&D efforts to move up the value chain. Mr. Nirmal K Minda, Managing Director, Minda Industries Limited says that the group’s vision is to become the no.1 globally in its product lines and this cannot be possible without constant innovation and thrust on quality. “We have spent close to Rs.50 crores in setting up R&D facilities. We are the first Indian auto component player to have set up a R&D centre in Japan. Today our outlay is around 3% of our annual turnover and we plan to increase this to 6-7% over the next 5 years. In fact in our recent new JV with Valeo for Starter Motors and Alternators we have earmarked 10% of our total capital outlay of Rs.100-120 crores for R&D”, says Mr. Minda.

The product is a result of the joint effort, teamwork and dedication of Industrial designers, application engineers, electronics engineers and designers from both R&D centers of MIL, Manesar in Gurgaon and MIL, Pune. The newly designed control system is neatly packaged in ergonomically styled switch consoles which include domains such as Electro-magnetism, Optics and Electronics.

MIL is one of the leading players who have been consistently putting efforts towards the quality R&D activities. The company is the major supplier to the OEMs who believe in building the trust of the customers through the consistent supply of quality components. It has been able to keep the consistent faith among the customers throughout its many years of service. Today, MIL is the leading supplier to the domestic as well as the global OEMs. Slowly, its several years of hard work in the R&D activities have started to produce results.

“We are increasingly looking at introducing new technologies in our product lines. In fact one of our major focuses in our M&A activities is to acquire technology and R&D capabilities. We have already registered 15 designs and have filed for 4 patents and are confident of filing for more in the coming days”, says Mr. Minda.

About Minda Industries Limited
MIL is today the country’s largest manufacturer of switches in the 2/3 wheeler segment and is amongst the top few globally. Minda has recently started the production of batteries at its Pantnagar facility and this will start commercial production shortly.

Minda Industries Limited has its manufacturing plants in Gurgaon, Pune, Hosur, Delhi, Aurangabad & Pantnagar and has over 1200 employees. Minda Group also has a manufacturing facility in Indonesia, looking after the booming ASEAN market.

National R&D Award of NK Minda Group

 

 

Press Release
New Delhi
October 24, 2007

Minda Industries Limited (MIL), the flagship company of the Rs. 832 crore NK Minda Group, announced its unaudited financial results for the quarter ended 30th September 2007.

The sales for Q2 in 2007 were up by 31.24%, from Rs. 8315.85 lakh in Q2 2006-2007 to Rs.10913.87 lakh in Q2 2007-2008.

Profit after tax was up to Rs. 269.18 lakh in the same quarter as compared to Rs. 261.38 lakh in Q1 2006-2007.

Profit after tax was up at Rs. 428.74 lakh in the same quarter, higher than Rs. 407.42 lakh in Q2 2006-2007.

The earning per share was Rs. 4.08 in the quarter ended September 30, 2007, up from Rs. 3.88 in Q2, 2006-2007.

“Our performance is slightly lower than the envisaged target of 40% top-line growth, but that has been keeping in mind the very abnormal negative growth seen in the last 6 months in the auto sector. We are hopeful that this is a short term issue and will change soon”, says Mr. N.K. Minda, Managing Director, Minda Industries Limited.

MIL is today the country’s largest manufacturer of switches in the 2/3 wheeler segment and is amongst the top few globally. Minda has already started the test production of batteries at its Pantnagar facility and this will start commercial production shortly.

Minda Industries Limited has its manufacturing plants in Gurgaon, Pune, Hosur, Delhi, Aurangabad & Pantnagar and has over 1200 employees. Minda Group also has a manufacturing facility in Indonesia, looking after the booming ASEAN market.

About NK Minda Group
NK Minda Group is India’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 203 million (over Rs.832 Crore) and is a leading supplier to Original Equipment Manufacturers.

For more information, please contact:

Media Contact
Nava Kumar Baro / Sunil Kumar Singh
finesse PR
91 11 27022460 / 27013586
nava@finessepr.com
sunil@finessepr.com

Analysts / Investor Relations
Amit Azad / Milton Singh
finesse PR
91 11 27022460 / 2701358691
amitazad@finessepr.com
milton@finessepr.com

 

 

Press Release
New Delhi
July 27, 2007

Minda Industries Limited (MIL), the flagship company of the Rs. 832 crore NK Minda Group, announced its unaudited financial results for the quarter ended 30th June 2007.

The sales for Q1 in 2007-2008 were Rs. 9155.41 lakh up from Rs. 8147.39 lakh in Q1 2006-2007.

Profit after tax was up to Rs. 269.18 lakh in the same quarter as compared to Rs. 261.38 lakh in Q1 2006-2007.

The earning per share was Rs. 2.57 in the quarter ended June 30, 2007, up from 2.49 in the quarter ended June 30, 2006.

“The slowdown in the auto sector has also led to a slowdown in the auto component sector. We have a firm belief that this slowdown is only temporary and once inflation is reigned in and the interest rates come down, we should see a reversal of this trend” says Mr. N.K. Minda, Managing Director, Minda Industries Limited. MIL is the country’s largest manufacturer of switches in the 2/3 wheeler segment and is amongst the top few globally.

Minda Industries Limited (MIL) designs, develops and manufactures switches for 2/3 wheelers and off-road vehicles. It also manufactures lamps for automobiles (2/3 & 4 wheelers). The plans are already underway to commercially launch Battery from a greenfield facility in Pantnagar.

Minda Industries Limited has its manufacturing plants in Gurgaon, Pune, Hosur, Delhi & Aurangabad and has over 1200 employees. Minda Group also has a manufacturing facility in Indonesia, looking after the booming ASEAN market.

About NK Minda Group
NK Minda Group is India’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 189 million (over Rs.832 Crore) and is a leading supplier to Original Equipment Manufacturers.

The NK Minda Group product profile comprises of Switches for 2 / 3 wheelers, switches for 4 wheelers, Lighting, Battery, Horns, Alternate Fuel Kits and Starter Motors & Alternators. Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan, Fiamm S.p.A, Italy and Valeo of France.

For more information, please contact:

Media Contact
Milton Singh / Nava Kumar Baro
finesse PR
27022460 / 27013586 / 27018630
milton@finessepr.com
nava@finessepr.com

Investor Contact
Amit Azad
finesse PR
27022460 / 27013586
amitazad@finessepr.com

 

 

Press Release
New Delhi
July 24, 2007

The Rs.832 crore NK Minda Group today announced its Joint Venture Agreement with Valeo Electrical Systems (a 1085 M € company) of France. The venture is setting up a new plant at Pune to manufacture starter motors and alternators.

The new entity to be christened Valeo Minda Electrical Systems India Private Limited (VMESPL) will manufacture starter motors and alternators for cars. The JV agreement envisages that 66.7% equity will be held by Valeo and 33.3 % equity will be held by NK Minda Group.

The new company is investing around Rs.100 to 120 crore at Pune. This investment will be spread over 4 years and around 10 % of the total amount is earmarked for setting up an R&D lab at the new facility. The commercial production is likely to commence at Chakan in March 2008.

“We were looking for opportunities to enter into new segments in auto components in line with our core competency of manufacturing quality electrical components. Our foray into starter motors and alternators is part of our commitment to bring forth value added propositions and quality electrical components to our OEM customers”, says Mr. Nirmal K Minda, Managing Director, NK Minda Group.

On the occasion of the signing of the JV with Valeo Electrical Systems, Mr. Minda said, ”NK Minda Group is very happy to announce its JV with Valeo, which is the leading automotive supplier across the globe and known for its twin focus on quality and technology. We also believe that this is just the auspicious start to a long relationship and together we will serve our OEM customers better”

Thierry Morin, Valeo Chairman & CEO, said, “India is growing and modernizing at a rapid pace, creating great opportunities for global and local car makers as well as automotive suppliers. Valeo already operates three joint ventures in India and will continue to expand its presence in the country.”

The total OEM market for cars and MUV’s is currently slated to be 1.5 million starters and 1.5 million alternators respectively. This is growing at a rate of around 9 %.

VMESPL expects to achieve revenues of Rs. 275 crores ( 50 Million Euro) in the fifth year of operation. It will be focusing on manufacturing starter motors and alternators for passenger cars initially and after consolidation in the sector will look at HCV, LCV & 2-3 wheeler segments going forward.

About NK Minda Group
NK Minda Group is India’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of Rs. 832 crore (over US $ 203 million) and is a leading supplier to Original Equipment Manufacturers.

The NK Minda Group product profile comprises of Switches for 2 / 3 wheelers, switches for 4 wheelers, Lighting, Horns and Alternate Fuel kits. Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan and Fiamm S.p.A, Italy.

NK Minda group also has a listed company Minda Industries Limited (MIL) which designs, develops and manufactures switches for 2/3 wheelers and off-road vehicles. It also manufactures lamps for automobiles (2/3 & 4 wheelers) and has recently initiated a battery project at Uttaranchal.

About Valeo Group
Valeo is an independent industrial group dedicated to the design, production and sale of components, integrated systems and modules for cars and trucks. It is one of the world's leading automotive suppliers. The Group has 131 production sites, 68 R&D centers, 9 distribution platforms, and employs 71,100 people in 29 countries worldwide.

For more information, please contact:

Media Contact
Milton Singh / Nava Kumar Baro
finesse PR
27022460 / 27013586 / 27018630
milton@finessepr.com
nava@finessepr.com

Investor Contact
Amit Azad
finesse PR
27022460 / 27013586
amitazad@finessepr.com

 

 

Press Release
New Delhi
May 28, 2007

Minda Industries Limited (MIL), the flagship company of the Rs. 775 crore NK Minda Group, announced its audited annual results for the year 2006-2007. The sales for the year 2006-2007 clocked an impressive growth of over 44.22 % from the FY 2006-2007. The net sales grew from 268.05 Crore in FY 2005-2006 to Rs. 386.60 crore in FY 2006-2007.

In Q4 of FY 2006-2007, the sales (Rs. 12441.53 Lakhs) saw a leap of 43.32 % over the sales of Q4 of FY 2005-2006 (Rs. 8680.66 Lakhs).

The Profit after Tax of MIL for the FY 2006-2007 was Rs.1353.52 lakhs, up from Rs. 1295.48 lakhs for FY 2005-2006, witnessing an increase of 4.48%.

The earning per share was Rs. 12.58 in FY 2006-2007, up from Rs. 12.04 in 2005-2006, marking a rise of 4.48 %. The company has also proposed a dividend of 25 %, which is unchanged from last year.

Mr. N.K Minda, Managing Director, Minda Industries Limited, says “Though we have been able to maintain a healthy growth of over 40% in our topline, our bottomline has come under pressure. This is primarily due to the unprecedented increase in input costs (raw material)”. Elaborating on the steps being taken to address the issue he said, “We are further strengthening our processes to increase productivity. We are entering new product categories like automotive batteries where the margins are better. Other product diversifications and increasing thrust on exports should see us better placed in net profits in the coming year”.

Minda Industries Limited (MIL) designs, develops and manufactures switches for 2/3 wheelers and off-road vehicles. It also manufactures lamps for automobiles (2/3 & 4 wheelers). MIL is a Rs. 3866.07 million (over US $ 95.46 million) company and is on a rapid expansion spree. It is geared to take on global competition and has already made inroads into the ASEAN market. It is on its way to becoming the favoured vendor for 2/3 wheeler switches globally.

Minda Industries has its manufacturing plants in Manesar, Baddi, Pune, Hosur, Aurangabad, Mysore and Pantnagar and has over 2800 employees. NK Minda Group also has a manufacturing facility in Indonesia, looking after the ASEAN market.

About NK Minda Group
NK Minda Group is India ’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 121 million (over Rs.545 Crore) and is a leading supplier to Original Equipment Manufacturers.

The NK Minda Group product profile comprises of Switches for 2 / 3 wheelers, switches for 4 wheelers, Lighting, Battery , Horns and Alternate Fuel kits. Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan and Fiamm S.p.A, Italy.

For more information, please contact:

Media Contact
Milton Singh / Nava Kumar Baro
finesse PR
27022460 / 27013586 / 27018630
milton@finessepr.com
nava@finessepr.com

Investor Contact
Amit Azad
finesse PR
27022460 / 27013586
amitazad@finessepr.com

 

 

Press Release
New Delhi
February 15, 2007

Automotive Component Manufacturer of the Year 2007 by Auto Monitor

Minda Industries Limited, the flagship company of the Rs. 545 crore NK Minda Group, was awarded the Automotive Component Manufacturer of the Year 2007 at a glittering ceremony at New Delhi last evening, by The Auto Monitor. The Auto Monitor Award was received by Mr. NK Minda, Managing Director, Minda Industries Limited.

The Auto Monitor awards salute excellence by automotive and automobile companies in their respective fields. The nominees for the award included Mico Bosch, Cummins, Amtek Auto, Minda Industries and Suprajit Engineering. Minda Industries Limited won the top honours for the Automotive Category.

“This is a vindication of our dedication to quality and innovation. The Auto Monitor awards are amongst the most respected in the industry and it is a great honour to be felicitated amongst our peers”, says Mr. NK Minda.

About the Auto Monitor Awards
The Auto Monitor Awards were instituted in the year 2004 and in a very short span of time they have come to be recognised as the most distinguished and most coveted award that honors the best the Indian automotive industry has to offer. The fact that the Auto Monitor Awards have been supported by all the industry bodies viz. ACMA (Auto Component Manufacturers Association), CII (Confederation of Indian Industries) & SIAM (Society of Indian Automobile Manufacturers) since its inception, has added to the stature of the Awards.

A team of eminent members from the industry and the Auto Monitor editorial team formed the jury, which evaluated all nominees to decide on the winners. The judging process was validated by Deloitte Touche Tohmatsu India.

About Minda Industries Limited
Minda Industries Limited (MIL) designs, develops and manufactures switches for 2/3 wheelers and off-road vehicles. It also manufactures lamps for automobiles (2/3 & 4 wheelers). The plans are already underway to manufacture Battery at a new facility in Pantnagar.

Minda Industries Limited has its manufacturing plants in Gurgaon, Pune, Hosur, Delhi & Aurangabad and has over 1200 employees. Minda Group also has a manufacturing facility in Indonesia , looking after the booming ASEAN market.

About NK Minda Group
NK Minda Group is India ’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 121 million (over Rs.545 Crore) and is a leading supplier to Original Equipment Manufacturers.

The NK Minda Group product profile comprises of Switches for 2 / 3 wheelers, switches for 4 wheelers, Lighting, Battery , Horns and Alternate Fuel kits. Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan and Fiamm S.p.A, Italy.

For more information, please contact:

Media Relations
Milton Singh
finesse PR
91 11 27022460 / 27013586
+919891430668 +919818077767
milton@finessepr.com

Analysts / Investor Relations
Amit Azad
finesse PR
91 11 27022460 / 2701358691
+919818077767
amitazad@finessepr.com

 

 

Press Release
New Delhi
February 02, 2007

The shares of Minda Industries Limited (MIL) the flagship company of NK Minda group was today listed on the National Stock Exchange, vide their circular dated 31st January 2007.

In a press release issued by NSE, the securities of MIL would be available for trading from 2nd February 2007 onwards. The shares would trade under the symbol of MINDAIND. The ISIN code of the company is INE405E01015

Shares of MIL are already listed on the Bombay Stock Exchange and traded under the symbol MINDA having share code 532539.The company has a total of 10506064 (One Crore Five Lakh Six Thousand and Sixty Four) outstanding shares. The face value of the shares is Rs.10/-.

Commenting on the listing of company’s share on NSE, Mr. Nirmal K Minda the Managing Director of the company said “This marks another major milestone in our effort to enhance stakeholder value. With this listing, our shareholders stand to gain the most as they will be able to trade more easily from even the farthest corners of the country”.

Minda Industries Limited (MIL) is the market leader for two and three wheeler switches and holds close to 70% market share. MIL also manufactures automotive lighting for 2,3 and 4 wheelers . The turnover of MIL for F.Y 2005-06 was Rs.305 crores and the company has been registering a 40% Compound Annual Growth Rate (CAGR) over the last three years.

In the recently declared Q3 results, Minda sales were up by a handsome 44.76% to Rs. 9755.93 lakh from Rs. 6739.26 lakh in Q3 2005-2006. PAT was up to Rs. 411.72 lakh marking an increase of 14.25% and the EPS was Rs. 3.92 marking an increase of 14 %.

For the F.Y. 2006 – 07 also the company is confident of achieving a 40% growth in revenues thus outpacing the industry average of 25% comfortably. MIL has embarked on a rapid expansion and has set aside Rs.200 – 250 crores for this purpose.

About Minda Industries Limited
Minda Industries Limited (MIL) designs, develops and manufactures switches for 2/3 wheelers and off-road vehicles. It also manufactures lamps for automobiles (2/3 & 4 wheelers). The plans are already underway to manufacture Battery at a new facility in Pantnagar.

Minda Industries Limited has its manufacturing plants in Gurgaon, Pune, Hosur, Delhi & Aurangabad and has over 1200 employees. Minda Group also has a manufacturing facility in Indonesia, looking after the booming ASEAN market.

About NK Minda Group
NK Minda Group is India’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 121 million (over Rs.545 Crore) and is a leading supplier to Original Equipment Manufacturers.

The NK Minda Group product profile comprises of Switches for 2 / 3 wheelers, switches for 4 wheelers, Lighting, Battery, Horns and Alternate Fuel kits. Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan and Fiamm S.p.A, Italy.

For more information, please contact:

Media Relations
Milton Singh
finesse PR
91 11 27022460 / 27013586
+919891430668 +919818077767
milton@finessepr.com

Analysts / Investor Relations
Amit Azad
finesse PR
91 11 27022460 / 2701358691
+919818077767
amitazad@finessepr.com







PRESS RELEASE
New Delhi
January 29, 2007


Minda Industries Limited (MIL), the flagship company of the Rs. 545 crore NK Minda Group, announced its unaudited financial results for the quarter ended 31st December 2006.

The sales for Q3 in 2006 were up by a handsome 44.76% from Rs. 6739.26 lakh in Q3 2005-2006 to Rs. 9755.93 lakh in Q3 2006-2007.

Profit after tax was up to Rs. 411.72 lakh in the same quarter as compared to Rs. 360.37 lakh in Q3 2005-2006, marking an increase of 14.25%.

The earning per share was Rs. 3.92 in the quarter ended December 31, 2006, up from Rs. 3.43 in Q3, 2005-2006, marking an increase of 14 %.

“Our figures speak for themselves and allow us to keep our focus on delivering value for our stakeholders. We believe our growth is a result of our constant product innovations, client support as well as optimizing resource allocation”, says Mr. N.K. Minda, Managing Director, Minda Industries Limited.

MIL is today amongst the country’s largest manufacturer of switches in the 2/3 wheeler segment and is amongst the top few globally. Exports have started to become a major part of MIL offering and today the Minda seal of quality is available across the globe.

Minda Industries Limited (MIL) designs, develops and manufactures switches for 2/3 wheelers and off-road vehicles. It also manufactures lamps for automobiles (2/3 & 4 wheelers). The plans are already underway to manufacture Battery at a new facility in Pantnagar.

Minda Industries Limited has its manufacturing plants in Gurgaon, Pune, Hosur, Delhi & Aurangabad and has over 1200 employees. Minda Group also has a manufacturing facility in Indonesia, looking after the booming ASEAN market.

About NK Minda Group
NK Minda Group is India’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 121 million (over Rs.545 Crore) and is a leading supplier to Original Equipment Manufacturers.

The NK Minda Group product profile comprises of Switches for 2 / 3 wheelers, switches for 4 wheelers, Lighting, Battery, Horns and Alternate Fuel kits. Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan and Fiamm S.p.A, Italy.

For more information, please contact:

Media Relations
Milton Singh
finesse PR
91 11 27022460 / 27013586
+919891430668 +919818077767
milton@finessepr.com

Analysts / Investor Relations
Amit Azad
finesse PR
91 11 27022460 / 2701358691
+919818077767
amitazad@finessepr.com

PRESS RELEASE
New Delhi
July 26, 2006

Minda Industries Limited (MIL), India’s largest manufacturer of 2-3 wheeler automotive switches, announces financial results for Q1 of 2006-2007. Sales grow by 44.7 %; PAT grows to Rs. 261.38 lakh.

Minda Industries Limited (MIL), the flagship company of the Rs. 545 crore NK Minda Group, announced its unaudited financial results for the quarter ended 30 th June 2006 .

The sales for Q1 in 2006 were up by a handsome 44.78%, from Rs. 5627.15 lakh in Q1 2005-2006 to Rs. 8147.39 lakh in Q1 2006-2007.

Profit after tax was up to Rs. 261.28 lakh in the same quarter as compared to Rs. 247.84 lakh in Q1 2005-2006.

The earning per share was Rs. 2.49 in the quarter ended June 30, 2006 , up from Rs. 2.36 in Q1, 2005-2006.

“Minda Industries is looking at top-line growth and this we have been able to achieve to a large extent in our Q1 performance and we hope to continue our sterling performance in the next 3 quarters. The bottom-line faces challenges when we are on a growth trajectory, but we are looking at entering new growth areas. We have already announced our plans to set up a battery plant at Pantnagar in Uttaranchal, with an initial investment of Rs. 40 crore. This plant is expected to add Rs. 50 crore to top-line in FY 2007-2008”, says Mr. N.K. Minda, Managing Director, Minda Industries Limited. MIL is the country’s largest manufacturer of switches in the 2/3 wheeler segment and is amongst the top few globally.

Minda Industries Limited (MIL) designs, develops and manufactures switches for 2/3 wheelers and off-road vehicles. It also manufactures lamps for automobiles (2/3 & 4 wheelers). The plans are already underway to manufacture Battery at a new facility in Pantnagar.

Minda Industries Limited has its manufacturing plants in Gurgaon, Pune, Hosur, Delhi & Aurangabad and has over 1200 employees. Minda Group also has a manufacturing facility in Indonesia , looking after the booming ASEAN market.

About NK Minda Group
NK Minda Group is India ’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 121 million (over Rs.545 Crore) and is a leading supplier to Original Equipment Manufacturers.

The NK Minda Group product profile comprises of Switches for 2 / 3 wheelers, switches for 4 wheelers, Lighting, Battery , Horns and Alternate Fuel kits. Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan and Fiamm S.p.A, Italy .

For more information, please contact:

Media Relations
Milton Singh
finesse PR
91 11 27022460 / 27013586
+919891430668 +919818077767
milton@finessepr.com

Analysts / Investor Relations
Amit Azad
finesse PR
91 11 27022460 / 2701358691
+919818077767
amitazad@finessepr.com

PRESS RELEASE
New Delhi
24th of July 2006

Minda Industries Limited (MIL) announces its foray into Automotive Batteries in collaboration with FIAMM S.p.A, Italy. To invest Rs.40 Crore in setting up Battery Unit at Pantnagar, Uttranchal

Minda Industries Limited (MIL), the flagship company of Rs.545 crore NK Minda Group today announced its plans to set up a new plant at Pantnagar, Uttranchal to manufacture automotive batteries. The Battery project targets automotive batteries for 2, 3 & 4 wheeler vehicles. The Battery project has technical collaboration with Europe’s leading automotive supplier FIAMM S.p.A of Italy.

The company is investing Rs.40 crores in setting up the battery plant at Pantnagar. The total capacity of the plant, when fully operational, would be 4 million batteries per annum. The plant is likely to be completed by December year and would commence production in the last quarter of the Financial Year 2006-07.

“We are looking at cornering a substantial part of the Batteries market in India and hope that like all other products of our portfolio, our batteries will also be well received by the OEMs. This Battery project is very close to our heart and is a major milestone in our diversification process”, says Mr. Nirmal K Minda, Managing Director, of Minda Industries Limited said.

Commenting on the tie up with FIAMM, Mr. Minda said, ”Minda shares a very strong relationship with FIAMM, which is a leading automotive supplier in Europe known for its quality products through emphasis on technology. Collaboration for the battery project also shows the confidence that FIAMM places in the NK Minda group in terms of absorption of technology and delivering of products of global standards”.

Minda will manufacture and market the Valve Regulated Lead Acid Battery (VRLA), a first for India, which is a sealed and leak-proof battery and completely maintenance free. In the 2.5 Ah segment, targeted at kick-start vehicles upto 150 cc, Minda will manufacture both the Conventional and maintenance free batteries and. In all other segments like 5 Ah to 50 Ah batteries for 2, 3 & 4 wheelers, Minda will manufacture Maintenance Free and VRLA batteries. The emphasis is to create batteries that are more attuned to Indian conditions. All conventional flooded batteries, conventional low maintenance free batteries and VRLA batteries will be manufactured under one roof at the Pantnagar facility.

MIL expects to clock revenues of Rs.50 crores in the first full year of operation from the batteries i.e.2007-08 and the projected revenues in the third year is Rs.125 crores. The company will be manufacturing batteries for the 2 Wheeler and 4 Wheeler segments. The range of batteries would be from 2.5 Ah to 50 Ah and would incorporate the latest technological advances in this field.

The collaboration is in the nature of a technical tie up where FIAMM would supply the technology for the product. The agreement also gives MIL the exclusive rights over FIAMM automotive batteries in India for sale as well as manufacture for the next 10 years. MIL also gets the exclusive rights to market and export 2W/3W batteries around the world.

MIL has earmarked Rs 200 – 250 crores for expansion plans including setting up new plants, diversifying into new product categories, Mergers & Acquisitions and expansion of current capacities. Mr. Minda stated that this is just a beginning for the number of new initiatives being undertaken at the group to enhance shareholder value by seeking to diversify into new growth categories.

The battery market in India is divided into two categories the OEM and Aftermarket. The OEM Market is estimated to be Rs. 348 crores while the Aftermarket is estimated to be Rs.1825 crores in the year 2007-08.

Minda Industries Limited (MIL) designs, develops and manufactures switches for 2/3 wheelers and off-road vehicles. It also manufactures lamps for automobiles (2/3 & 4 wheelers). MIL is a Rs. 3040 million (over US $ 66 million) company and is on a rapid expansion spree. It is geared to take on global competition and has already made inroads into the ASEAN market. It is on its way to becoming the favoured vendor for 2/3 wheeler switches globally.

Minda Industries has its manufacturing plants in Gurgaon, Pune, Hosur, Delhi & Aurangabad and has over 1200 employees. Minda Group also has a manufacturing facility in Indonesia, looking after the booming ASEAN market.

About NK Minda Group
NK Minda Group is India’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 121 million (over Rs.545 Crore) and is a leading supplier to Original Equipment Manufacturers.

The NK Minda Group product profile comprises of Switches for 2 / 3 wheelers, switches for 4 wheelers, Lighting, Horns and Alternate Fuel kits. Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan and Fiamm S.p.A, Italy.

For more information, please contact:

Media Relations
Milton Singh
finesse PR
91 11 27022460 / 27013586
+919891430668 +919818077767
milton@finessepr.com

Analysts / Investor Relations
Amit Azad
finesse PR
91 11 27022460 / 2701358691
+919818077767
amitazad@finessepr.com

PRESS RELEASE
New Delhi
June 03, 2006

Minda Industries Limited(MIL), India’s largest manufacturer of 2-3 wheeler automotive switches, announces audited financial results for FY 2005-2006. Sales grow by 36.58 %; PAT grows by 26.82 %; EPS grows by 27.68%.

Minda Industries Limited (MIL), the flagship company of the Rs. 500 crore Minda Group, announced its audited annual results for the year 2005-2006. The sales for the year 2005-2006 clocked an impressive growth of over 35.5 % from the FY 2004-2005. The sales grew from 196.26 Crore in FY 2004-05 to Rs. 268.05 crore in FY 2005-2006.

In Q4 of FY 2005-2006, the sales saw a quantum leap of 53.98 % over the sales of Q4 of FY 2004-2005.

The Profit after Tax of MIL for the FY 2005-2006 was Rs.1295.48 lakhs, up from Rs. 1021.54 lakhs for FY 2004-2005, witnessing an increase of 26.82%.

The earning per share was Rs. 12.04 in FY 2005-2006, up from Rs. 9.43 in 2004-2005, marking a rise of 27.68 %. The company has also proposed a dividend of 25 %, which is unchanged from last year.

“Minda Industries is constantly outperforming the auto component sector financials. Our robust performance, our people and our facilities allow us to aspire for becoming a global leader in the segment”, says Mr. N.K. Minda, Managing Director, Minda Industries Limited. MIL is the country’s largest manufacturer of switches in the 2/3 wheeler segment and is amongst the top few globally.

Minda Industries Limited (MIL) designs, develops and manufactures switches for 2/3 wheelers and off-road vehicles. It also manufactures lamps for automobiles (2/3 & 4 wheelers). MIL is a Rs. 2680 million (over US $ 59.5 million) company and is on a rapid expansion spree. It is geared to take on global competition and has already made inroads into the ASEAN market. It is on its way to becoming the favoured vendor for 2/3 wheeler switches globally.

Minda Industries has its manufacturing plants in Gurgaon, Pune, Hosur, Delhi & Aurangabad and has over 1200 employees. Minda Group also has a manufacturing facility in Indonesia, looking after the booming ASEAN market.

About Minda Group
Minda Group is India’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 111 million (over Rs.500 Crore) and is a leading supplier to Original Equipment Manufacturers.

The Minda Group product profile comprises of Switches for 2 / 3 wheelers, switches for 4 wheelers, Lighting, Horns and Alternate Fuel kits. Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan and Fiamm S.p.A, Italy.

For more information, please contact:

Media Relations
Milton Singh
finesse PR
91 11 27022460 / 27013586
+919891430668 +919818077767
milton@finessepr.com

Analysts / Investor Relations
Amit Azad
finesse PR
91 11 27022460 / 2701358691
+919818077767
amitazad@finessepr.com