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Home arrow News arrow Auto component arrow Sona Koyo Steering Systems Ltd registers 45.9 % increase in Export sales
Sona Koyo Steering Systems Ltd registers 45.9 % increase in Export sales Print E-mail
Written by Viswanath   
Saturday, 30 April 2011
New Delhi: Steering System manufacturer, Sona Koyo Steering Systems Ltd, has registered a 45.9 percent increase export sales from Rs. 317.4 million last year to Rs 463 million for the year ended 31st March, 2011.

On a standalone basis, the company's net sales have grown 21.33%. to Rs.1031.69 Crores from Rs. 850.29 Crores during the same period last year. PAT is at Rs. 37.41 crores against Rs. 21.64 Crores during the same period last year. Domestic sales increased 20.4 % on a YOY basis from Rs. 8,185.6 million to Rs 9,854 million.

This year, the company has commenced production for Ford's Fiesta & Figo, Maruti Suzuki's Alto K-series, Tata's Ace 1 ton, Sonalika's Rhino, EZGO (LSV) and Toyota (EFC). In FY 12, the company will commence supplies for Mahindra & Mahindra (W408), Tata Ace (0.5 ton) and Maruti (YP8).

On consolidated basis there was a strong growth in revenue from subsidiaries including JTEKT SONA Automotive India, Sona Fuji Kiko Automotive and Sona Stampings. For the year ended 31st March 2011, Net sales have grown 41% to RS.1203 crores from Rs. 853 Crores during the same period last year, and. the PAT is at Rs. 44.63 crores against Rs. 16.95 Crores of the previous year, a growth of 163%.

In FY 11 drivelines contributed 15.8 % to the sales while steering and coloumn contributed 84.2 % to the sales. In FY 10 drivelines contributed 12.8 % to the sales while steering and coloumn contributed 87.2 % to the sales.

In FY 11 exports contributed 4.5% to the sales compared to 3.7% in FY 10.

The company's overall capacity utilization has increased from approximately 70 percent in FY 10 to approximately 74 percent in FY 11 driven by improved utilization in steering products.

Keeping with the growth trends in the last three Quarters, F11 Q4 sales of Rs.291.74 crores were 6,94% higher than F11 Q3 sales of Rs. 272.80 Crores. The Profit After Tax (PAT) for F11 Q4 stands at Rs 11.79 Crores against Rs 12.56 crores in F11 Q3.

In a Quarter to Quarter comparison for the same period last year, Net Sales have grown 20.74% to Rs.291.7 crores in Q4 F11 v/s Rs 241.63 crores in Q4 F10. The Profit After Tax (PAT) for Q4 F11 stands at a profit of Rs. 11.79 crores, in comparison to Rs. 10.16 .crores during the corresponding period of the previous year.

The Board of directors have declared a dividend of 65%.

The SONA Group comprises Soria Okegawa Precision Forgings Ltd., Sona BLW Prazisionsschmiede Gmbh, Sona Somic Lemforder Components Ltd., Mahindra Sona Ltd, Sona Mobility and Sona e-Qesign Ltd. SONA KOYO Steering Systems Ltd has over 45% domestic market share, supplying steering gears, columns and RPS assemblies to almost all Indian passenger car and utility vehicle manufacturers.

 
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