Mahindra Sona Limited is an ISO/TS 16949 certified Tier 1 supplier of Propeller Shafts, Clutch Assemblies, Steering Column Components such as Steering Universal Joints and Spindle & Sleeve Assemblies.
The Company caters to the Utility Vehicle and Commercial Vehicle Segments. MSL exports about 20 percent of its production to OE customers in North America and Europe. The gross total income of Mahindra Sona Ltd. for the year 2014-15 (FY15) was Rs433.89 crore. It has been posting a strong double digit CAGR growth in last five years.
Of course, as Motwane rightly points out, the economic environment in India during the year gone by has been subdued which has caused a slowdown in the Automotive sector. "The GDP growth of the Country was at around 7 percent. The manufacturing sector also remained under pressure.
"In an economic environment, wherein growth in the automotive sector has slowed down, our Company has achieved a growth in sales. This growth has been achieved by winning additional business with existing customers, adding new customers in the domestic OEM market, developing products for the new segments and growing our export business," he informs.
MSL continues to invest aggressively into in-house R&D and testing which has resulted in creating a robust mechanism of generating and capturing IP within the Company. "Our customers appreciate the work we are doing to add various features to the products we supply which in contribute to making their vehicles more reliable and efficient. We are also in the midst of identifying new locations to set up additional capacity. We will have more clarity on this in the next few months," Motwane says.
Motwane believes that Indian automotive companies must invest aggressively in R&D and testing infrastructure. "Companies that have the capability to innovate will survive. Innovation and Quality with value for money is the only path forward for going to next level. While, the components industry has vast potential in and outside India, we need to understand customers' expectations, stated and implied. With the entrance of many MNCs in past 25 years, the vehicles manufactured in India have to be at par with global counterparts.
Motwane wants to build MSL into a Company that India is proud of. "We want to become a supplier of choice to domestic and global customers and align ourselves with the Government's ‘Make in India' campaign to demonstrate that world class quality products can be made in our Country and used by the customers worldwide. We already have a significant export business and my target is to grow this overseas business and supply to Global OEMs by selling cost effective quality parts in and outside India," he says.
END
