Automotive and Transport Sector in India May 2013

7/28/2019 Automotive and Transport Sector in India May 2013

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Automotive and Transport

Sector in

India

Monthly Update

May 2013



Automotive and Transport – Monthly Update

Top Story

Despite slowdown in car sales, MNCs are optimistic about the Indian automobile

market

Indian auto sales have been declining drastically with the first ever drop in 12 years,down by 6.7% in FY2013. It is expected that there will be a meager growth of 3‐5% in

FY2014. However, the major auto players, such as Honda, Ford Motors, Nissan and

Toyota, have a positive outlook about the long term potential of the market.

This can be attributed to the shift in demand from the developed to the emergingmarkets. US and Europe account for ~50% of the world’s middle class population. It is

expected to reduce to 22% with Asia doubling its contribution from 30% at present to

64% by 2030. China has the world’s largest automobile market in terms of sales and it

is also the largest car producer in Asia. Low vehicle penetration in India and growing

young consumer base will drive the production of vehicles in the country, making it the second largest producer in Asia, beating Korea.

The current trend of developing vehicles on a global platform has resulted in reduced

pressure to build a manufacturing facility close to any one market. Auto MNCs are

using the same base globally to produce a range of vehicles. They are shifting theirproduction bases from developed countries, such as US, Japan and western European

countries, with high production costs to low cost countries, such as China and India in

order to gain efficiencies and scale. Regional or bilateral free‐trade agreements

(FTAs) are also boosting the auto trade amongst various countries. The US has signedone with Mexico and India has signed another with the Southeast Asian countries.Globally, consumer preference is shifting towards smaller, compact and fuel‐efficient

vehicles. Further, the differences in the environmental and efficiency norms for

different countries have reduced considerably. This has allowed the MNCs to choose

their production base from wide range of locations across the globe.

All these factors are influencing the big auto MNCs to shift towards the emerging

markets, which explains the dichotomy between sluggish sales in India and the strongfaith of auto MNCs in the country’s market potential.

Shipping Ministry to aid major ports in India with INR 6.5 bn

Indian Shipping Ministry will fund the major state‐owned ports of India with INR 6.5bn for maintenance dredging. This initiative by the government is a part of financial

year 2013‐14 budget plan. The government had allocated INR 2.45 bn in the previous

year.

Chennai, Ennore and Vishakapatnam ports have navigational channels with morethan 17‐meter drafts and are capable of handling bigger ships. Hence the fund will aid

these major ports for sustaining their dredging work.




Kolkata Port, which is a riverine port with a very long navigational channel is also

getting subsidy from Shipping Ministry to meet the cost of maintenance dredging.

News Update

General

Tata Motor’s new Vista D90 launched in Nepal

Tata Motors has launched its new Vista D90 in Nepal. It is a premium hatchback

available at ~ INR 1.7 mn. It is powered by a 1.3 litre quadrajet diesel engine with a

mileage of 21.12 kilometre per litre of fuel. The distributor for Tata Motors’commercial and passenger vehicles in Nepal is Sipradi Trading Pvt. Ltd. (STPL). STPL

is the only distributor of Tata Motors in Nepal since 1982.

Mercedes Benz has investment plans worth INR 2.5 bn in India

Mercedes Benz has plans of investing INR 2.5 bn, which will raise its cumulative

investment to INR 8.5 bn for the Indian market. The new investment will be used fordoubling its manufacturing capacity to 20,000 vehicles by Dec 2013. This will cater to

the rising demand for luxury sedans and SUVs in the domestic market.

Presently, the Pune plant churns out Mercedes C‐Class, E‐Class, S‐Class and the MLClass. By Sep 2013, company has plans of assembling the newly launched GL Class

from its Pune plant.

Indian Shipping Industry to witness cargo handling at Dhamra by Tata Steel

Adani Port, India’s largest private sector port and Special Economic Zone haveapproached Tata Steel regarding the terms of handling cargo at Dhamra Port in

Orissa. Indian Shipping Industry will thus get a project which would bear a cost of

about INR 36 bn.

The port is currently controlled by Tata’s arm TM International Logistics. Dhamraport is jointly owned by Tata Steel and Larsen and Toubro. This step indicates Indian

Shipping Industry will see a significant move towards acquiring a strategic control of the port. Cargo handling policy at the port in terms of warranties, damages and

liabilities are in favor of the Tata Group, hence they are likely to accept the deal soon.

BHEL derives benefit from Indian logistics sector

Bharat Heavy Electricals Ltd. (BHEL), Tiruchi, garners assistance from the Indian

logistics sector. BHEL can now save substantially on goods and wharf charges byexporting equipment through the Karaikal Port. The port which became operational

in 2009 is closer to BHEL at a distance of 132 km.




Karaikal port, a subsidiary of Chennai based MARG Group, was selected as the ‘Most admired emerging Infrastructure Company’ under ‘transport’ category at the ‘KPMG‐

Infrastructure Today Awards 2013.’ The port could attract major customers

benefitting Indian logistics sector by providing higher discharge rates, absence of pre‐berthing delays, faster turnaround times, and savings in the integrated logistics costs.

Indian Shipping industry to see new developments at Shell and Kakinada

Seaports

Shell and Kakinada Seaports (KSPL) plans to implement the Andhra Liquefied NaturalGas (LNG) import terminal project. The seaports have submitted the draft

environmental impact assessment report to the State Pollution Control Board in

Kakinada and signed the Port Services Contract. The project will be the 1st LNGimport terminal for the Indian Shipping industry on the East Coast. The terminal will

set in motion with an ability of up to 5 mtpa which can be extended to 10 mtpa.

Shell’s presence in several existing and planned LNG supply projects would benefit

this project ensuring diversity and security of supply to Andhra Pradesh. India being

an important market for LNG, and Gujarat and Andhra Pradesh being the key marketsfor gas in India, this development will be dually beneficial for the energy & utilities

market and Indian Shipping industry.

Transportation & logistics market to see more divestment by Gati

Gati Ltd, one of leading player in the transportation & logistics market has sold 40%

of its stake in Gati Ship to Riba Constructions. The deal was worth INR 80 mn which is

expected to be complete by June 2013.

The express distribution and supply chain solutions provider has plans to divest

further in the shipping division as it aims to hold minority stake. Gati is also talking

with others besides Riba for stake sale. The transportation & logistics market will seemore such divestment by Gati as it is suffering extensive losses in the shipping

division.

Indian Shipping sector to benefit from the new chartered ship between Kollam

and Kochi

Indian shipping sector is expected to witness a strong connectivity between coastal

and inland waterways in the State of Kerala. The state will get a 205 km Kollam‐

Kottapuram National Waterway III by Nov 2013.

This initiative will provide a tremendous boost to efforts being made to shift cargo

movement from congested and risky roads to waterways. Further to encouragecoastal shipping the State government will start operating a chartered ship between

Kollam and Kochi by end of May 2013.




Industry Expert Speak

Indian Shipping Industry to witness cargo handling at Dhamra by Tata Steel -

Mr. Anand

Sharma – Director, Mantrana Maritime Advisory "Dhamra Port has huge potential on the east coast as it caters to the eastern and

north‐eastern hinterland in a big way. Kolkata and Haldia Ports are facing depthproblems and capacity constraints. In this regard, Dhamra can provide better

economies of scale and become an alternate gateway."

Fiat to increase dealership network in India - Ravi Bhatia – Head (Sales & Network), Fiat Group Automobiles India “We will have about 125 partners by end of this calendar year (2013) but the facilities

active will be 100 and we will be covering 70 per cent of the market. We currentlyhave less than one per cent market share...but we have plans to raise it to 5 per cent in

next three years.”Pressure on diesel models -Mayank Pareek – COO marketing and sales , Maruti “his trend has more to do with availability of diesel versions in a year that saw a rapid

drive towards diesel cars. In the A2 + segment, for instance, we have Swift and Ritz in

diesel version so that segment showed growth. With petrol prices becoming more

supportive of late, the entry level segment has just about started looking up and dieselmodels are now under pressure. So there's just a hint of an improvement in Alto and

WagonR now as they move into the plus zone. Earlier SUVs and diesels were growingbut that too is getting neutralized. Last month, SUVs grew 4%, this month it is lower. We have clocked a 17% upside on rural sales last month. The market should pick up

in the second half of this year helping us close with 5‐7% growth if we're lucky.”

Automotive : Transactions (March 2013 – May 2013)

Date Buyer Target Deal Size

(INR mn) % stake Deal Status

Type of

Transaction

29th May

2013

Sumitomo

RubberIndustries Ltd.

Apollo Tyres South

Africa Pty Ltd. 3,350 ‐ Completed M&A

7th May2013

Global EdgeSoftware

Dearborn Electronics(India) Pvt. Ltd.

‐ 100% Completed M&A




25th Apr

2013

Denso

Corporation

Pricol Components

Ltd.51 51% Completed M&A

22nd Apr2013

MindaIndustries Ltd.

Clarton Horn S.A.U. 474 100% Completed M&A

15th Apr2013

Technocraft Industries

(India) Ltd.Swift Engineering Inc. ‐ 100% Completed M&A

12th Apr

2013

Metallurgica

Siderforge s.r.l.

AMW‐MGM Forgings

Pvt. Ltd.

1600 ‐ Completed M&A

11th Mar

2013

Amtek Auto

Ltd.

Neumayer Tekfor

Group27,170 ‐ Pending M&A

Transport : Transactions (March 2013 – May 2013)

Date Buyer Target Deal Size

(INR mn) % stake Deal Status

Type of

Transaction

31st May

2013TVS Logistics

Wainwright

Industries500 100% Completed M&A

10th May2013

RibaConstructions

Gati Ship 80 40% Completed M&A

29th Apr2013

DTDC Courier& Cargo Ltd.

Nikkos Logistics Pvt.Ltd.

N.A. 70% Completed JV




Automotive : Annual Financial Results – Revenue (INR mn)

Companies FY ’10 FY ’11 FY ’12 FY’ 13

Amtek Auto Ltd. 36,908.50 51,119.20 76,222.20 N.A.

Apollo Tyres Ltd. 81,207.40 88,677.20 121,532.90 127,946.30

Balkrishna Industries Ltd. 15,637.30 21,322.10 30,166.40 33,738.20

Bharat Forge Ltd. 33,271.60 50,869.50 62,790.60 56,401.40

Bosch Ltd. 66,817.50 80,616.00 85,801.00 N,A.

Ceat Ltd. 28,517.80 36,311.30 46,490.00 50,090.00

Electrotherm (India) Ltd.* 20,073.50 23,896.70 17,243.40 N,A.

Exide Industries Ltd. 39,788.50 47,660.80 53,186.70 63,658.90

JK Tyres Ltd. 45,846.80 59,787.70 69,471.00 69,488.50

Kesoram Industries Ltd. 47,615.30 54,384.30 59,485.00 57,976.80

Mahindra & Mahindra Ltd. 316,879.70 370,695.70 596,433.20 673,539.50

Mahindra Forgings Ltd. 13,325.30 19,245.20 24,402.50 20,967.90

Motherson Sumi Systems Ltd. 67,651.90 82,493.00 147,768.00 252,253.00

MRF Ltd. 74,750.80 97,645.50 119,803.00 N,A.

Rane Holdings Ltd. 11,802.30 16,111.30 18,752.80 N,A.

Rico Auto Industries Ltd. 10,034.30 13,149.80 15,107.30 N,A.

Sundram Fasteners Ltd. 17,187.40 22,944.70 27,884.80 25,926.30

Tata Motors Ltd. 925,192.50 1,221,279.20 1,656,544.90 1,876,528.40

TVS Srichakra Ltd. 7,032.40 10,908.90 14,534.90 16,467.70

Wheels India Ltd. 12,523.50 17,006.10 20,775.40 19,245.00




*Change in financial year

Automotive : Annual Financial Results – Income (INR mn)


Amtek Auto Ltd. 2,404.90 2,594.80 5,819.00 N,A.

Apollo Tyres Ltd. 6,533.50 4,401.60 4,099.00 6,126.10

Balkrishna Industries Ltd. 2,190.40 1,945.30 2,689.40 3,499.10

Bharat Forge Ltd. ‐633.8 2,901.60 4,130.50 2,475.70

Bosch Ltd. 8,589.10 11,227.00 9,583.00 N,A.

Ceat Ltd. 1,624.80 264.7 181.3 1,201.90

Electrotherm (India) Ltd.* 533.2 89.7 ‐5,210.90 N,A.

Exide Industries Ltd. 4,935.20 6,188.20 4,460.60 5,493.50

JK Tyres Ltd. 2,235.20 659.1 ‐319.9 2,033.00

Kesoram Industries Ltd. 2,373.40 ‐2,102.10 ‐3,797.40 ‐3,292.30


Mahindra Forgings Ltd. ‐1,844.90 37.6 511.7 ‐1,139.40


MRF Ltd. 3,575.00 6,187.70 5,794.00 N,A.

Rane Holdings Ltd. 416.4 940.3 1,014.10 N,A.

Rico Auto Industries Ltd. ‐49.1 133 224.6 N,A.

Sundram Fasteners Ltd. 471.5 1,127.20 995.7 929.4




Tata Motors Ltd. 25,710.60 92,736.20 135,165.00 98,926.10

TVS Srichakra Ltd. 298.2 391.4 391.9 271.9

Wheels India Ltd. 129.5 246.4 343.5 318.8


Automotive : Quarterly Financial Results – Revenue (INR mn)

Companies Apr-Jun

2012

Jul-Sep

2012

Oct -Dec

2012

Jan-Mar

2013

Amtek Auto Ltd. N.A. N.A. N.A. N.A.

Apollo Tyres Ltd. 31,647.0 33,748.3 32,173.5 30,377.6

Balkrishna Industries Ltd. N.A. N.A. N.A. N.A.

Bharat Forge Ltd. N.A. N.A. N.A. N.A.

Bosch Ltd. 21,738.6 NA 20,556.9 21,903.0

Ceat Ltd. 12,249.7 12,130.6 12,385.0 13,334.2

Electrotherm (India) Ltd. N.A. N.A. N.A. N.A.

Exide Industries Ltd. N.A. N.A. N.A. N.A.

JK Tyres Ltd. N.A. N.A. N.A. N.A.

Kesoram Industries Ltd. 15,041.1 14,161.0 12,983.1 15,791.6


Mahindra Forgings Ltd. N.A. N.A. N.A. N.A.


MRF Ltd. N.A. N.A. N.A. N.A.

Rane Holdings Ltd. 4,848.0 4,415.6 4,684.5 N.A.




Rico Auto Industries Ltd. 3,804.0 3,450.9 3,778.4 N.A.

Sundram Fasteners Ltd. N.A. N.A. N.A. N.A.

Tata Motors Ltd. 431,711.3 428,189.0 458,213.1 558,415.0

TVS Srichakra Ltd. N.A. N.A. N.A. N.A.

Wheels India Ltd. 4,724.1 4,479.6 4,038.1 4,674.3

Automotive : Quarterly Financial Results – Income (INR mn)

Companies Apr-Jun

2012

Jul-Sep

2012

Oct -Dec

2012

Jan-Mar

2013

Amtek Auto Ltd. N.A. N.A. N.A. N.A.

Apollo Tyres Ltd. 1,380.2 1,522.0 1,806.0 1,417.8

Balkrishna Industries Ltd. N.A. N.A. N.A. N.A.

Bharat Forge Ltd. N.A. N.A. N.A. N.A.

Bosch Ltd. 2,474.6 NA 1,720.5 2,597.7

Ceat Ltd. 290.1 38.0 224.3 649.0

Electrotherm (India) Ltd. N.A. N.A. N.A. N.A.

Exide Industries Ltd. N.A. N.A. N.A. N.A.

JK Tyres Ltd. N.A. N.A. N.A. N.A.

Kesoram Industries Ltd. (959.6) (540.3) (1,172.1) (620.4)


Mahindra Forgings Ltd. N.A. N.A. N.A. N.A.

Motherson Sumi Systems Ltd. 81.4 1,375.8 1,030.2 1,958.0




MRF Ltd. N.A. N.A. N.A. N.A.

Rane Holdings Ltd. 107.9 129.1 95.3 N.A.

Rico Auto Industries Ltd. 46.9 (14.1) (73.2) N.A.

Sundram Fasteners Ltd. N.A. N.A. N.A. N.A.

Tata Motors Ltd. 22,449.1 20,747.3 16,275.0 39,454.7

TVS Srichakra Ltd. N.A. N.A. N.A. N.A.

Wheels India Ltd. 89.3 86.0 90.0 53.5

Transport : Annual Financial Results – Revenue (INR mn)


ABC India Ltd. 1,466.10 2,103.20 2,582.00 N.A.

ABG Shipyard Ltd. 18,124.40 21,359.40 24,724.80 N.A.

Allcargo Logistics Ltd.* 28,613.40 33,963.00 35,435.60 N.A.

Aqua Logistics Ltd. 3,220.10 3,808.80 3,682.30 N.A.

Arshiya International Ltd. 5,258.90 8,215.20 10,573.30 N.A.

Bharati Shipyard Ltd. 13,480.00 16,090.00 17,184.30 N.A.

Blue Dart Express Ltd.* 11,499.00 14,922.70 N.A. 17,338.10

Brahmanand Himghar Ltd. 48.855 42.492 26.026 N.A.

Chartered Logistics Ltd. 1,235.43 1,841.89 2,569.20 N.A.

Chowgule Steamships Ltd. 910.927 839.649 856.97 865.1

Container Corporation of India Ltd. 37,306.00 38,992.00 41,008.50 44,448.10




Deutsche Post AG 3,089,543.00 3,659,847.70 4,034,898.70 N.A.

Essar Ports Ltd. 30,077.70 19,108.60 11,108.90 14,215.30

Four Soft Ltd. 1,329.60 1,219.06 1,280.58 N.A.

Gateway Distriparks Ltd. 5,180.40 6,024.60 8,214.50 9,540.70

Gati Ltd. 9,261.10 12,094.40 11,801.80 N.A.

Global Offshore Services Ltd. 2,124.12 1,968.17 2,296.40 N.A.

Great Eastern Shipping CompanyLtd.

30,755.10 25,850.30 29,554.90 29,820.50

Gujarat Pipavav Port Ltd. 2,839.30 3,958.90 4,160.30 N.A.

Mercator Ltd. 18,087.30 28,316.80 36,999.10 37,333.50

Seamec Ltd. 3,247.21 1,023.76 1,817.68 3,373.30

Shreyas Shipping and Logistics Ltd. 1,539.87 1,886.91 2,704.90 N.A.

Sical Logistics Ltd. 7,220.10 8,017.40 7,796.30 N.A.

SKS Logistics Ltd. 294.24 442.25 228.31 N.A.

The Shipping Corporation of India

Ltd.34,935.30 35,450.50 38,289.10 43,606.00

Transport Corporation of India Ltd. 15,225.10 18,530.20 19,537.50 21,290.70

Varun Shipping Co. Ltd.* 6,852.30 4,946.70 3,149.90 N.A.





Transport : Annual Financial Results – Income (INR mn)


ABC India Ltd. 8 54.9 N.A. N.A.

ABG Shipyard Ltd. 2,181.20 2,047.10 1,856.70 N.A.

Allcargo Logistics Ltd. 1,659.20 2,228.70 2,345.90 N.A.

Aqua Logistics Ltd. 205.4 223.9 38.6 N.A.

Arshiya International 983.1 820.1 1,208.00 N.A.

Bharati Shipyard Ltd. 1,303.50 885.00 ‐2.70 N.A.

Blue Dart Express Ltd.* 947 1,241.90 N.A. 1,546.20


Chartered Logistics Ltd. 40.26 77.4 57.4 N.A.

Chowgule Steamships Ltd. 766.64 276.93 ‐1,058.55 ‐1,384.56

Container Corporation India Ltd. 7,776.30 8,763.70 8,656.60 9,306.10

Deutsche Post AG 151,983.00 80,174.90 119,958.80 N.A.

Essar Ports Ltd. 937.7 701.5 639.5 3,315.50

Four Soft Ltd. 76.65 30.942 ‐426.38 N.A.

Gateway Distriparks Ltd. 791.4 967.5 1,320.30 1,266.90

Gati Ltd. 95 141 415.1 N.A.

Global Offshore Services 412.2 222.24 240.1 N.A.

Great Eastern Shipping Company

Ltd.5,127.60 4,687.00 3,165.50 5,377.60

Gujarat Pipavav Port Ltd. ‐547.2 571 739.6 N.A.




Mercator Ltd. 532.4 940 205.6 ‐3,720.90

Seamec Ltd. 1,419.55 ‐671.66 ‐131.9 404

Shreyas Shipping and Logistics Ltd. ‐157.05 127.77 56.3 N.A.

Sical Logistics Ltd. ‐356.3 ‐110.8 156.1 N.A.

SKS Logistics Ltd. ‐81.87 32.65 9.264 N.A.

The Shipping Corporation of IndiaLtd.

3,769.10 5,673.50 ‐4,282.10 ‐1,143.10

Transport Corporation of India Ltd. 412.7 501.3 595.10 695.1

Varun Shipping Co. Ltd.* ‐1,528.80 147.5 91.80 N.A.


Transport : Quarterly Financial Results – Revenue (INR mn)

Companies Apr

-Jun

2012

Jul-Sep

2012

Oct -Dec

2012

Jan-Mar

2013

ABC India Ltd. 475.0 N.A. N.A. N.A.

Allcargo Logistics Ltd. 9751.9 10136.6 9,726.30 N.A.


Arshiya International Ltd. 3418.4 3725.7 N.A. N.A.


Chartered Logistics Ltd. 708.2 655.3 550.3 N.A.

Deutsche Post AG 974856.6 939484.4 N.A. N.A.

Essar Ports Ltd. 3245.0 3439.8 3659.7 3,870.80




Four Soft Ltd. 325.0 352.6 346.3 N.A.

Gateway Distriparks Ltd. 2304.1 2158.9 2,340.10 2,663.40

Gati Ltd. N.A. 2980.3 3,268.90 3,112.20

Global Offshore Services Ltd. 693.7 528.2 606.1 N.A.

Great Eastern Shipping Company

Ltd.8024.2 6577.9 7,518.10 7,700.30

Gujarat Pipavav Port Ltd. 849.1 864.7 1520.7 1,141.00

Mercator Ltd. 10952.0 8222.6 8,093.50 10,065.40

Shreyas Shipping and Logistics Ltd. 860.2 873.0 N.A. N.A.

Sical Logistics Ltd. 1751.2 1955.3 1,959.60 N.A.

SKS Logistics Ltd. 53.9 53.8 N.A. N.A.

The Shipping Corporation India

Ltd.11549.5 10259.1 10,109.70 11,687.70


Allcargo Logistics Ltd. 9751.9 10136.6 9,726.30 N.A.

Transport : Quarterly Financial Results – Income (INR mn)

Companies Apr-Jun

2012

Jul-Sep

2012

Oct -Dec

2012

Jan-Mar

2013


Allcargo Logistics 556.0 592.1 360.8 N.A.


Arshiya International Ltd. 346.2 354.3 N.A. N.A.

Bharati Shipyard Ltd. N.A. N.A. N.A. N.A.




Brahmanand Himghar ‐2.3 3.3 4.244 N.A.

Chartered Logistics Ltd. 40.0 ‐12.9 17.5 N.A.

Deutsche Post AG 14173.3 25932.7 N.A. N.A.

Essar Ports Ltd. 685.2 805.3 904.2 920.7

Four Soft Ltd. 27.6 46.6 34.1 N.A.

Gateway Distriparks Ltd. 352.0 298.3 280.3 336.3

Gati Ltd. N.A. ‐77.9 50.6 56.7

Global Offshore Services Ltd. 397.9 39.8 96.3 N.A.

Great Eastern Shipping CompanyLtd.

1809.9 812.0 1,918.40 837.3

Gujarat Pipavav Port 157.3 81.7 359.9 353.8

Mercator Ltd. 170.7 53.1 ‐2,292.60 ‐1,652.00

Shreyas Shipping and Logistics Ltd. 67.4 7.1 N.A. N.A.

Sical Logistics Ltd. 13.7 2.2 5.8 N.A.

SKS Logistics Ltd. 3.9 0.9 N.A. N.A.

The Shipping Corporation IndiaLtd.

‐548.7 2972.6 ‐752.6 ‐2,814.40

Events Calendar

Cost Efficient

Management

in

Logistics

&

Transportation

Date: 13th – 14th June, 2013Venue: Hotel Le Meridien, Bangalore, IndiaWebsite: www.reedexpo.com

Automotive Engineering

Show

– Chennai

Date: 6th – 8th June, 2013Venue: CTC complex, NandambakkamOrganizer: Focussed Event Management Pvt.Ltd.Tel: +(91)‐(22)‐32019137 / 40201000




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Automotive and Transport Sector in India May 2013