Sona Koyo Steering Systems Ltd.

Company Profile

■URL

http://sonakoyosteering.com/

■Address

38/6, Delhi-Jaipur Road, NH-8, Gurgaon 122002, India

Business Overview

-The Company is the flagship company of the Sona Group

-The Company is India's largest manufacturer of steering systems for passenger cars, utility vehicles, and light commercial vehicles.

-The Company has a technical and financial partnership with JTEKT Corporation in Japan. JTEKT has a 20.1% share in the Company. Other major shareholders include Sona Autocomp Holding with 25.12%, and Maruti Suzuki India with 6.94%.

-The Company's subsidiaries are listed in the table below:

Company Name Main Product
JTEKT Sona Automotive India Limited (JSAI) Column Type Electric Power Steering (C-EPS) systems
Sona Fuji Kiko Automotive Ltd. (SFAL) Steering columns


-During the fiscal year ended March 2014, the Company merged with Sona Stampings Ltd.

-As of March 2016, the Company has an approximately 50% market share in the Indian passenger vehicle steering system segment according to its calculations.

Shareholders

-Listed on Bombay Stock Exchange and National Stock Exchange of India. (As of Mar. 31, 2016)
Category Shareholding Ratio (%)
Promoters 52.34
Individual Investors 35.85
Bodies Corporate 6.53
Insurance Companies 0.60
Mutual Funds 0.48
Foreign Institutional & Foreign Portfolio Investors 0.37
Non-resident Indian 1.35
Others 2.48
Total 100.00

Products

Steering components
-Rack & pinion steering systems
-Recirculation ball screw steering gears
-Tilt steering columns
-Intermediate shafts for Column-type Electric Power Steering (CEPS)
-Telescopic shafts for steering column
-Telescopic I-shafts for CEPS
-Hydraulic power steering gears
-Steering gears for CEPS systems
-Electronically Controlled Power Steering systems (ECPS)
-Steering columns for HCVs
-Telescopic I-shafts for HCVs
-Steering columns
-Steer-by-wire systems
-Steering ECUs
-Electric Power Assist Modules (EPAM)
-Ball joints
-Intermediate shaft with vibration dampener for UV

Driveline components
-Front & rear axle shafts
-Rear axle assemblies
-Differential carriers
-Differential assemblies
-Propeller shafts
-Drive shafts
-Bevel gears
-Synchronizer rings
-Clutch disc assemblies
-Suspension arms and links

History

Jan. 1985 Technical Collaboration Agreement with Koyo Seiko (presently JTEKT), Japan for manufacturing.
Feb. 1986 Entered a JV agreement with Maruti Udyog Ltd. (presently Maruti Suzuki)
Oct. 1987 Commenced production of manual steering gear and manual steering column.
May 1988 Listed through an IPO.
Jul. 1992 Koyo Seiko (presently JTEKT) acquired 8% stake in the Company.
Aug. 1994 Certified as an approved vendor to Koyo Seiko (presently JTEKT).
Jul. 1996 Started production of hydraulic power steering gear.
May 1997 Koyo Seiko (presently JTEKT) increases stake to 20.5%.
Dec. 1998 Established plant in Chennai
Oct. 1998 Sona Steering name changed to Sona Koyo Steering Systems Ltd.
Oct. 2003 Established Export Oriented Unit (EOU) in Chennai.
Oct. 2004 Acquired 21% stake in Fuji Autotech France.
Mar. 2006 Started production of column-type electric power steering.
Feb. 2007 Established plant at Dharuhera, Haryana.
2011 Sold AAM Sona Axle Private Limited to American Axle & Manufacturing.
2012 Acquired remaining 30.08% stake of Sona Stampings Limited (SSL) from Arjan Auto Private Limited, making SSL a wholly-owned subsidiary of the Company.
Nov. 2013 Divested entire holding of joint venture Fuji Autotech Europe S.A.S. to its joint venture partner, Fuji Kiko Europe S.A.S. for EUR 7.75 million.

Supplemental Information 1