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×

mohindra fasteners Limited

202.00
+ 1.00 %
Scrip Name
Mohindra Fasteners
ISIN No.
INE705H01011
PAN No.
AAACM6749D
Face Value
10
No. of Outstanding Shares
5,356,800
Market Capitalization
108.21 Crore

MOHINDRA FASTENERS LIMITED UNLISTED SHARE


About Mohindra Fasteners Limited


Mohindra Fasteners Limited (MFL) is a manufacturer of ‘High Tensile Fasteners’ used in Automotive, and Engineering sectors. The company’s infrastructure is spread across three plants with latest equipments for manufacturing of high quality fastener assortments. The company has initiated activities for a Greenfield expansion at a new location at IMT Rohtak, approximately 5 km away from the existing facilities.


Mohindra Fasteners Limited was incorporated as a Public Limited Company on 10th January, 1995and started its commercial production in 1997. The company is listed on the Metropolitan Stock Exchange (MSEI).Its wide range of products are categorised under two industry verticals comprising of:

Standard / Norm Parts as per various standards

Drawing / Print / Automotive Parts


MFL also manufactures fasteners in materials such as stainless steel and brass. The major clients of the company are Hero MotoCorp Limited, Maruti Suzuki, Hyundai India, and Tata Motors. The company derives nearly 40% of revenues from Domestic sales and the rest 60% from overseas sales.
The company owes its success to its lean manufacturing operations and dedication to quality at every step. The passion to serve its customers with the best has successfully translated to significant market share both in domestic and overseas market(s).


INCORPORATION DETAILS


CIN

L74899DL1995PLC064215

Registration Date

10th January,1995

Category/Sub-category of the Company

Public Company, Limited by shares

Address of the Registered office and contact details

304 Gupta Arcade, Inder Enclave, Delhi-Rohtak Road,

New Delhi -110087

Tel. No.: +91-11–46200400

Fax No.: +91-11– 46200444

E-mail address: cs@mohindra.asia

Website: www.mohindra.asia

Name, Address and Contact Details of

Registrar and Transfer Agent, if any

Mr. Virender Rana, Director

Skyline Financial Services Private Limited,

D-153/A, Ist Floor, Okhla Industrial Area, Phase-1, New Delhi-110020

Tel. No.: +91-11–40450193-97

E-mail: compliances@skylinerta.com

 

PRINCIPAL BUSINESS ACTIVITES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to total turnover of the Company

Manufacture of High Tensile Fasteners

2599

100%

 

BOARD OF DIRECTORS

Mr. Deepak Arneja (Chairman Cum Managing Director & CEO)

Mr. Ravinder Mohan Juneja (Managing Director)

Mr. Gagandeep Singh Narang (Non – Executive Director)

Mr. Vinod Kumar (Non – Executive & Independent Director)

Mr. Ved Prakash Chaudhary (Non – Executive & Independent Director)

Mrs. Shamoli Thakur (Non – Executive & Independent Director)


PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

MOHINDRA FASTENERS LIMITED does not have any subsidiary or associate company.

 

 

MOHINDRA FASTENERS LIMITEDSHARE DETAILS


Total Available Shares:

5356800

Face Value:

Rs. 10 Per Equity Share

ISIN:

INE705H01011

Pan No.

AAACM6749D

Lot Size:

100

Last Traded Price: 

Rs. 200

Market Cap:

Rs. 107.14 Crore

 

 

 

SHAREHOLDING PATTERN

(As on 31-03-2020)

S. No.

Shareholders’ Name

Number of shares

% of total Shares of the company

1

Anurag Arneja (Promoter)

580100

10.83%

2

Deepak Arneja(Promoter)

570900

10.66%

3

Ravinder Mohan Juneja (Promoter)

505350

9.43%

4

Ranbir Singh Narang (Promoter)

428500

8.00%

5

SudhirArneja (Promoter)

392400

7.33%

6

Other Promoters

1297450

24.22%

7

Public Shareholding

1582100

29.53%


Total

5356800

100%

 

INDUSTRY OUTLOOK

India is the 4th largest auto market in the world. India is expected to replace Japan as the third largest auto market by 2021. In India, the two wheeler segment dominates the automobile market in terms of volume. Apart from this, India is the largest Tractor manufacturer, 2nd largest bus manufacturer and 3rd largest heavy trucks manufacturer in world. India is also a big exporter of automobiles and automotive products and has very strong growth expectations in the future.


In FY 2020, India manufactured 2.63 Crore vehicles and sold 2.15 Crore vehicles. Automobile production at domestic level increased at CAGR of 2.36% from FY 2016 to FY 2020 and sales increased at CAGR of 1.29% for the same period. The Electrical Vehicle market of India is projected to grow at CAGR of 44% between 2020-2027 and is expected to touch annual sales of 63.4 lakh units by 2027.Indian automotive industry (including component manufacturing) is expected to reach Rs. 16-18trillion by 2026.


FY 2021 was one of the toughest year in the history of the Indian automotive industry due to outbreak of COVID 19 pandemic. The Automobile industry was already facing headwinds due to slowing economy was stopped completely due to nationwide lockdown in 2020. The Indian automotive industry in FY 2021 registered a decline of 13.6%. However, the last 2 quarters have been relatively better than the first 2 quarters of FY 2021. 4th Quarter of FY 2021 registered an increase of 25.89% in total sales of automobiles when compared to 3rd quarter of FY 2021. The Passenger Vehicle segment saw a total decline of 2.24% in FY 2021. However, the Passenger Vehicle segment performance in 4th quarter improved strongly with year-on-year increase of 42.4%.


For Auto component the scenario is same as the automobiles. Sales of the automotive components sharply fell in the first 2 quarters of FY 2021. Later in the 3rd and 4th quarter of FY 2021, the market started picking up the sales.


The Indian automotive industry is expected to book growth in FY 2022. However, it is projected that the passenger vehicle segment will reach the levels of FY 2019 only in FY 2023-24. ICRA, a rating agency, expects domestic auto component industry revenue to grow by 16-18% in FY 2020. The outlook for auto component industry has changed from Negative to Stable backed by increase in demand across Original Equipment manufacturers, replacements and exports.

 

PROFIT & LOSS STATEMENT OF MOHINDRA FASTENERS LIMITED (In Rs. Lakhs)

 

Particulars

2020

2019

2018

2017

Revenue from Operations

10,147.79

13,483.37

11,394.20

10,645.89

EBITDA

1,349.10

1,657.13

1,212.85

1,039.74

EBITDA margin

13.29%

12.29%

10.64%

9.77%

Finance Cost

55.45

127.36

157.10

126.38

Depreciation

354.07

395.29

300.60

283.52

Other Income

269.60

68.88

155.33

153.26

Profit Before exceptional items and tax

1,209.17

1,203.36

910.48

783.11

Exceptional items

-

-

-

-

Total Tax

272.40

292.97

307.39

272.17

Profit After Tax (PAT)

936.77

910.39

603.09

510.93

PAT margin

9.23%

6.75%

5.29%

4.80%

EPS

17.49

17.00

11.26

9.54



BALANCE SHEET OF MOHINDRA FASTENERS LIMITED (In Rs. Lakhs)

Particulars

31st March 2020

31st March 2019

ASSETS



NON CURRENT ASSETS



Tangible assets

2,929.04

3,133.93

Intangible assets

8.77

9.14

Financial assets

26.00

12.55

Other financial assets

101.91

99.17

Other non-current assets

106.13

53.97

TOTAL NON CURRENT ASSETS

3,171.85

3,308.76

CURRENT ASSETS



Inventories

2,080.83

2,123.01

Financial assets

86.85

13.88

Trade receivables

1,362.33

2,617.50

Cash and Cash equivalents

2,056.14

533.80

Tax assets

0.31

-

other current assets

752.61

1,091.38

TOTAL CURRENT ASSETS

6,339.07

6,379.57

TOTAL ASSETS

9,510.92

9,688.33

EQUITY AND LIABILITIES



EQUITY



Equity share capital

535.68

535.68

Other equity

5,354.53

4,664.99

TOTAL EQUITY

5,890.21

5,200.67

LIABILITIES



NON CURRENT LIABILITIES



Financial liabilities

24.89

-

Provisions

39.98

-

Tax liabilities

157.43

251.10

TOTAL NON CURRENT LIABILITIES

222.30

251.10

CURRENT LIABILITIES



Financial liabilities

26.37

35.26

Borrowings

1,289.28

1,780.45

Trade payables

1,733.37

2,104.18

Provisions

134.98

107.52

Tax liabilities

-

15.68

Other current liabilities

214.41

193.48

TOTAL CURRENT LIABILITIES

3,398.41

4,236.57

TOTAL LIABILITIES

3,620.71

4,487.67

TOTAL EQUITY AND LIABILITIES

9,510.92

9,688.33

 

DIVIDEND HISTORY

Particulars

2020

2019

2018

Dividend (final + interim) (In Rs.)

3.50

3.00

2.50

 

PERFORMANCE OF THE COMPANY

Revenue from Operations of the company in FY 2020 was Rs.10,148 Lakhs, as against Rs.13,483 Lakhs in FY 2019. Revenue from Operations of the company decreased by Rs. 3,335 Lakhs, which is about 24.73% decrease.


EBITDA of the company also decreased by 18.58% from Rs. 1,657 Lakhs in FY 2019 to Rs. 1,349 Lakhs in FY 2020. EBITDA margins improved from 12.29% in FY 2019 to 13.29% in FY 2020.


In FY 2019, the company incurred a profit of Rs.910 Lakhs. In FY 2020 the company made a profit of Rs.937 Lakhs, i.e. an increase of 2.96%.


Current Ratio of the company as on 31st March 2020 was 1.87.


Book value per share of the company as on 31st March 2020 stood at Rs.109.96.
















 

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