TVS Group Business Report FY ended Mar. 2017
Recent Years
Financial Overview (FY ended Mar. 2017)
Axles India Limited
-In FY ended Mar. 2017, Axles India Limited revenue down by 14.8% to INR 4135.9 million against INR 4858.8 million in years previous. Its sale of Housings to domestic market increased marginally in 2016-17 compared to previous year, but export sales to Dana USA dropped to 42,500 numbers from 100,000 numbers in 2015-16.
Harita Seating Systems Limited
-In FY ended Mar. 2017, Harita Seating Systems revenue grew 12.5% to INR 3,573.6 million against INR 3,175.5 million sales from the previous year. The Company's sales grew in the commercial vehicle segment and in the bus passenger seats better than the market growth.
India Nippon Electricals Limited
-In FY ended Mar. 2017, India Nippon Electricals Limited grew 5% to INR 4,079.2 million against INR 3,884.7 million sales from the previous year. The Company's sales grew because of increased level of sales and cost reduction in material cost despite increase in employee cost.
Sundaram Brake Linings Limited
-Revenue in FY ended Mar. 2017 remains flat to INR 2,465.2 million against INR 2,462.7 million in years previous. It registered a growth of 6.5% in Domestic OE & Domestic After market segment, and a drop of 6% in the Export segment.
Sundram Fasteners Limited
-In FY ended Mar. 2017, the company increased its revenue by 11.9% year-on-year to INR 29,488.5 million against INR 26,355.6 million in FY ended Mar. 2016. The company hot forging, power train component and wind energy fasteners product lines contributed significantly to the growth in sales.
Sundaram-Clayton Limited
-Revenue in FY ended March 2017 decreased by 4.4% to INR 15896.7 million.
Wheels India Limited
-Revenue in FY ended March 2017 increased to INR 21760.6 million, 9.4% higher than previous year. It registered a strong growth in the air suspension business, and good growth in the windmill parts business and tractor wheel business
Financial Overview (FY ended Mar. 2015)
Harita Seating Systems Limited
-In FY ended Mar. 2015, Harita Seating Systems grew 9.4% in sales from the previous year. The company's sales increased in the commercial vehicle segment and bus passenger seats by 17% and 7% respectively.
Sundaram Brake Linings Limited
-Sales in FY ended Mar. 2015 decreased by 3.6% from the previous year to INR 2,349.3 million.
Sundram Fasteners Limited
-In FY ended Mar. 2015, the company increased its sales by 18.0% year-on-year to INR 23,857.7 million.
- Domestic sales: Sales increased by 17% due to the increase in sales of heavy and medium commercial vehicles, passenger vehicles and two/three wheelers.
- Exports: Export sales grew by 18% from the previous year. The US market recovered modestly though not uniformly across all customers of the company. And European markets continued to be hit by recession and negative sentiments. However, the company achieved sales growth. Export sales remained around 38% of the overall sales revenue.
Sundaram-Clayton Limited
-Sales in FY ended March 2015 increased by 12.5% to INR 13,461.1 million. Export sales accounted for approximately 40% of its overall sales.
Turbo Energy Limited
-In FY ended March 2015, sales increased by 11.5% from previous year to INR 8,700 million.
Wheels India Limited
-Sales in FY ended March 2015 increased to INR 19,798.7 million, 8.6% higher than previous year. Export sales accounted for 20.3% of its overall sales.
Financial Overview (FY ended Mar. 2014)
Harita Seating Systems Limited
-In the FY ended March 31, 2014, Harita Seating Systems' profits before tax dropped from INR 131.4 million the previous year to INR 58.9 million. This was due to decreased sales stemming from a decline in demand in all of the company's markets except for the Indian tractor market.
Sundaram Brake Linings Limited
-Sundaram Brake Linings' sales grew 7.1% to INR 2,491.3 million in the FY ended March 31, 2014. The growth in sales was carried by a 27% growth in exports and was partially offset by year-over-year sales decreases of 12% in domestic OEMs and 5% in aftermarket sales.
-Approximately 35% of Sundaram Brake Lining's total sales are exported to over 54 countries across the world.
Sundram Fasteners Limited
-Sundram Fasteners' sales for the FY ended March 31, 2014 dropped 2.3% to INR 20,222.8 million from the previous year. The company's domestic sales declined 9.4% from INR 13,470 million to INR 12,200 million, though its exports increased by 12.2% from INR 6,780 million to INR 7,610 million.
Turbo Energy Limited
-Turbo Energy had a sales turnover of INR 7,800 million in the FY ended March 31, 2014.
Technological Alliance
Brakes India Limited
-In July 2010, TRW Automotive announced a technology partnership with Brakes India Limited (BI). TRW intends to license slip control systems (SCS) technology to BI to enable them to manufacture and provide development capabilities in India. At present TRW exports complete ABS and electronic stability control (ESC or VSC) units to India. BI was formed as a joint venture between TRW and the TVS Sundram Group in 1962. (From a press release on July 13, 2010)
Lucas-TVS Limited
-Usui Kokusai Sangyo signed a Technical Assistance Agreement for fan drives with Indian automotive supplier Lucas-TVS Limited in March 2010. Lucas-TVS is headquartered in Chennai and manufactures motors, alternators, engine cooling fans and ignitions. (From a press release on June 11, 2010)
Business Partnership
In July 2017, Topy Industries, Ltd. (Topy Industries) announced that it will establish a joint venture with Wheels India Limited (WIL) in India to manufacture and sell steel wheels for passenger cars. WIL will split off its passenger car steel wheel business from the Bawal Plant in Haryana, northern India, and the Padi Plant in Tamil Nadu, southern India, and establish the new company WIL Car Wheels Ltd. (WCWL). Topy Industries will acquire a 26% stake in WCWL.
ZF Electronics TVS
-In August 2009, US-based CTS Corporation and ZF Electronics TVS (India) Private Limited - ZF Electronics TVS - entered into a marketing agreement. Under the agreement CTS will sell its products including rotary and linear position sensors and other electronic components in India, with an initial focus on 4- and 2-wheeler automotive markets. ZF Electronics TVS, a joint venture between the Group and ZF Electronics Corporation of Germany, manufactures switches, sensors and other components for several segments, such as automotive, in India. (From a press release on August 19, 2009)
Awards
Sundaram Auto Components Limited (SACL)
-During FY ended March 2017, the company was recognized and rewarded by the following customers:
- Takata
- Daimler India
- Hannon Automotive
Wheels India Limited
-During FY ended March 2017, the company was recognized and rewarded by the following customers:
- Ford
- Hyundai
- Maruti Suzuki
- Volvo Eicher
Sundaram-Clayton Limited
-During FY ended March 2015, the company was recognized and rewarded by the following customers:
- Cummins: Superior quality award
- Hyundai: "4+ Star" quality rating
- Visteon: Appreciation for VAVE in new product development
Wheels India Limited
-In January, 2014, Wheels India won the CV Auto Component of the Year sponsored by Apollo for its forged aluminum tube type wheel. (From a press release on January 15, 2014)
-In 2013, the company awarded Regional Contribution Award from Toyota.
Harita Seating Systems Limited
-In 2013, Harita Seating Systems received the CV Component of the Year award for its 3-point Emergency Locking Retractor (ELR) type seat belt assembly for bus seats.
R&D Activities for FY ended March 31, 2017
Harita Seating Systems Limited
-In the FY ended March 31, 2017, Harita Seating Systems had an R&D expenditure of INR 132.6 million.
-The following are specific R&D activities that Harita Seating Systems carried out in the FY ended March 31, 2017:
- Instructor seat proto development completed for exports market.
- New product tooling for mechanical and pnuematic suspension seat (currently developed as platform for global OEM customers)
- Deluxe Seats developed for Indian bus passenger seat market.
- Auto folding co driver seat developed for deluxe buses.
- School Bus Seats developed under platform concept.
- Single Pan Seat productionised and commenced supplies.
- Rear suspension tractor seat developed under platform concept.
India Nippon electrical Limited
-R&D expenditure for FY ended March 2017 was INR 58.3 million. The company conducts R&D activities at Padi, Velappanchavadi and Hosur facilities.
-The following are specific R&D activities that India Nippon electrical Limited carried out in the FY ended March 31, 2017:
- Successful introduction of Patent pending Integrated Ignition controller, over 1.9 million pieces have been shipped within a year of launch.
- Mass production of EGR controller cum Regulator, a unique product to aid meeting Bharat IV norm has started
Sundaram Brake Lining Limited
-In the FY ended March 31, 2017, Sundaram Brake Lining Limited had an R&D expenditure of INR 76.9 million.
-The following are specific R&D activities that Sundaram Brake Lining Limited carried out in the FY ended March 31, 2017:
- Developed and obtained OEM approval for Drum Brake Linings for Heavy Truck and Bus applications.
- Developed and obtained OEM approval for Drum Brake Lining for Light commercial vehicle applications.
- Developed and obtained OEM approval for New grade Woven clutch facings for Commercial vehicle application.
- Developed & improved an affordable vehicle data acquisition system - DEFCON (Driver's Experience of Friction Conditions) and collected actual field duty cycle data for understanding and improving our new and existing product performance.
Sundram Fasteners Limited
-R&D expenditure for FY ended March 2017 was INR 154.5 million. The company conducts R&D activities at Padi, Velappanchavadi and Hosur facilities.
-The following are specific R&D activities that Sundram Fasteners Limited Limited carried out in the FY ended March 31, 2017:
- FEA and modeling software AMC are utilized for upgradations and deriving benefits therefrom. Development of light weight fasteners
- Ultrasonic cleaning machine introduced to supply contamination free parts. Heat treated bars procured for production of studs of length greater than 150mm
- Change of process for higher size nuts - Hot forging route adopted from Cold forging route.
- Development of new pre-alloyed medium hardenable alloy iron powder with nickel and lead.
- Development of high compressibility hybrid alloy iron powder variant for manufacture of sintered parts along with development of high density sintered rotors
- Development of low speed synchro hubs, sintered aluminium gerotors, rotors for variable displacement oil pumps
Sundaram-Clayton Limited
-In FY ended March 2017, the company invested INR 136.1 million as R&D expenditure.
-The following are R&D activities that Sundaram-Clayton completed during the FY ended March 31, 2017:
Developed 47 new aluminium die cast products for automotive applications.
- Developed Abrasive Flow Machining (AFM) process to improve surface finish on a specific product - product preceding technology for the customer.
- Improved material yield in die casting through design optimization. (v) Established semi-solid casting.
- During the year the Company filed a patent for a new technology viz., surface finish and efficiency improvement and published the same at the international bureau in March 2017.
- The Company is also actively working on filing patents for unique processes, like distortion correction technique for heat treated components.
- So far the Company has filed four patents in total.
- Establish thermal design for High Pressure Die Casting (HPDC) and Gravity Die Casting (GDC) dies to control thermodynamics and kinetics during solidification.
- Development of semisolid casting for identified parts to improve casting quality.
- Establish water free die lubrication in one die casting cell.
Wheels India Limited
-In the FY ended March 31, 2017, Wheels India spent a total of INR 128.8 million on research and development.
R&D Activities for FY ended March 31, 2015
Harita Seating Systems Limited
-In the FY ended March 31, 2015, Harita Seating Systems had an R&D expenditure of INR 58.4 million.
-The following are specific R&D activities that Harita Seating Systems carried out in the FY ended March 31, 2015:
- Development of deluxe seats under the platform concept for passenger buses
- Development of plastic molded, semi deluxe and school bus seats under the platform concept
- Completed designing and testing of single pan seats and sliding seats
- Completed development of mechanical suspension system for commercial vehicles and tractor seats
Sundram Fasteners Limited
-R&D expenditure for FY ended March 2015 was INR 120.3 million. The company conducts R&D activities at Padi, Velappanchavadi and Hosur facilities.
Sundaram-Clayton Limited
-In FY ended March 2015, the company invested INR 44.6 million as R&D expenditure.
-The following are R&D activities that Sundaram-Clayton completed during the FY ended March 31, 2015:
- Establishment of heat treatment process for structural High Pressure Die-Casting parts
- Establishment of surface coating process for aluminum die cast parts to withstand stringent requirements for automotive exterior applications
- Development of 25 new aluminum die cast products for automotive applications
Wheels India Limited
-In the FY ended March 31, 2015, Wheels India spent a total of INR 165.3 million on research and development.
-Wheels India filed 3 patent applications and developed 242 new products in the FY ended March 31, 2015.
-The following are R&D activities that Wheels India was engaged in during the FY ended March 31, 2015:
- Development of lightweight wheels and air suspension products to meet OEM customer requirements in quality and durability
- Development of new generation light weighting wheels to meet emerging OEM customer requirements
- Development of electronically controlled air suspension systems in the van segment
- Introduction of air suspension system for the Intermediate Commercial Vehicles segment with GVW of 8 to 10 ton and lift axle systems for trailers
R&D Activities for FY ended March 31, 2014
Harita Seating Systems Limited
-In the FY ended March 31, 2014, Harita Seating Systems had an R&D expenditure of INR 46.1 million.
-The following are specific R&D activities that Harita Seating Systems carried out in the FY ended March 31, 2014:
- Development of deluxe seats under the platform concept for passenger buses
- Development of plastic molded, semi deluxe and school bus seats under the platform concept
- Design and testing of single pan seats and sliding seats
- Development of mechanical suspension system for CV and tractor seats
Wheels India Limited
-In the FY ended March 31, 2014, Wheels India spent a total of INR 155.9 million on research and development.
-Wheels India filed 10 patent applications and developed 216 new products in the FY ended March 31, 2014.
-The following are R&D activities that Wheels India was engaged in during the FY ended March 31, 2014:
- Development of a new generation of lightweight wheels to meet OEM customer requirements in quality and durability
- Development of alternate manufacturing processes with improved yields
- Development of air suspension systems for new vehicle segments such as vans
Sundaram Brake Linings Limited
-Total R&D expenditure for Sundaram Brake Linings in the FY ended March 31, 2014 was INR 78.9 million.
-The following are R&D activities that Sundaram Brake Linings was engaged in during the FY ended March 31, 2014:
- Development of MCV disc pads for domestic OEMs
- Development of hydraulic brake linings for next generation light commercial vehicles
- Development of new grade commercial vehicle linings for the North American market
-In the future, Sundaram Brake Linings plans to continue development of disc pads and linings for various new vehicle applications for domestic OEMs and the Export market.
Sundaram-Clayton Limited
-In the FY ended March 31, 2014, Sundaram Clayton spent a total of INR 61.4 million on research and development.
-The following are R&D activities that Sundaram-Clayton completed during the FY ended March 31, 2014:
- Development of product redesign capabilities for magnesium pressure die cast parts
- Establishment of a crack detection process for structural high pressure die casting parts
- Development of magnesium transmission housing prototype parts for passenger cars
- Performed technical evaluations of high ductile pressure die cast alloys for automotive structural parts
- Development of 30 new aluminum die cast products
Sundram Fasteners Limited
-For the FY ended March 31, 2014, Sundram Fasteners had a total R&D expenditure of INR 145.1 million.
-The following are R&D activities that Sundram Fasteners had accomplished in the FY ended March 31, 2014:
- Development of heat resistant steel fasteners for exhaust applications
- Development of lightweight steel bolts
- Development of a steam oxidation process for chromium components
R&D Activities for FY ended March 31, 2013
Harita Seating Systems Limited
-The following are specific R&D activities that Harita Seating Systems carried out in the FY ended March 31, 2013:
- Developed three point seat belt for bus seats to improve passenger safety
- Started development for high-backed seats for LCV and MCV buses
Sundaram Brake Linings Limited
-Sundaram Brake Linings developed and started production of brake linings for heavy commercial vehicles for domestic markets in the FY ended March 31, 2013.
Sundaram-Clayton Limited
-The following are specific R&D activities that Sundaram-Clayton carried out in the FY ended March 31, 2013:
- Developed surface coating processes for magnesium casting
- Developed surface treatment capabilities for magnesium die cast parts
- Developed machining processes for magnesium die cast parts
- Developed one prototype aluminum part through investment casting
- Developed 44 new aluminum die cast parts
Sundram Fasteners Limited
-Sundram Fasteners continued development of fasteners with cold worked super alloys in the FY ended March 31, 2013.
Investment in India for FY ended March 31, 2017
Sundaram-Clayton Limited
Sundaram-Clayton Limited (SCL), announced to invest INR 4 billion over next three years to expand its facilities in India to cater the increasing demand in the Indian market. The investment will help its capacity to increase from 60,000 MT to 70,000 MT through its four-manufacturing plant in India. SCL already invested INR 4.1 billion in the last five years in India.
Sundaram Fastener Limited
Sundaram Fastener Limited has incurred INR 2004.4 million towards capital expenditure on existing and new projects. Capital investments were incurred to dovetail production plans to those of key customers.
Investment in India for FY ended March 31, 2015
Sundram Fasteners Limited
-Capital expenditure for FY ended March 2015 was INR 1,180 million.
Investment in India for FY ended March 31, 2014
Sundram Fasteners Limited
-Sundram Fasteners had capital expenditures of INR 1,508.2 million in the FY ended March 31, 2014.
-Sundram Fasteners opened a new factory at Mahindra World City to develop and manufacture various types of shafts. Operations at the plant began in early 2014.
India Japan Lighting Private Limited
-In 2013, the company established the second plant in Chennai in order to meet