The Hindu Business Line : Mando India looks to double turnover this year

Chennai, June 10 The Chennai-based Mando India Ltd, part of the Rs 2,500-crore Anand Group headquartered in Delhi, expects to double its turnover to Rs 380 crore this year. The company is in talks with four OEMs (original equipment manufacturers) to supply braking systems, shock absorbers and struts.

The Deputy Managing Director of Mando India, Mr V. Madhavan, told Business Line, “We are in the advanced level of negotiations with four MNC passenger car manufacturers in India and once the deal is finalised, we will set up satellite assembly plants close to their facility.” The deals have been estimated to fetch fresh orders for about five lakh vehicle sets of braking system, shock absorbers and struts, he said.

The objective of setting up satellite assembly operations was to minimise investment while maintaining ‘just in time’ supplies, he said. Based on the model and the volumes, Mando India will expand capacity at its present manufacturing facility in Irrungattukottai (near Hyundai Motor India Ltd facility), he said. Accordingly the investments will be decided, he added.

It may be noted that Mando India, the 67:33 joint venture between Mando Machinery Corporation and Anand Group, has recently completed a Rs 140-crore expansion at its plant, which made it to churn out eight lakh vehicle sets of braking systems and six lakh vehicle sets of shock absorbers and struts. The expansion was primarily to cater to HMIL, which recently commissioned its second plant, taking the total capacity to six lakh cars. Besides supplying to HMIL, it has also been catering to the requirements of Ford India (Fusion and Fiesta) and Mahindra Renault (Logan). Towards this, the company entered into a technical licence agreement with Continental Teves of Germany.

Mando India, which received a five-star award from HMIL, is developing low cost braking system for ultra low cost cars. “Higher technologies are required for developing low cost braking systems and so engineers from Korea and China have joined us in the project. We are also considering developing complete module for anti-lock braking system,” he said. In order to give a fillip Mando India is setting up R&D facility at its plant to pursue new product development besides focussing on value engineering and testing.

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