Automotive Stampings & Assemblies Ltd

(ASAL)

Automotive Stampings and Assemblies Ltd (ASA Ltd) is an Indian TACO group company that manufactures sheet metal stampings, welded assemblies, and modules for the automotive industry. The company has 4 facilities located across India (Bhosari, Maharashtra; Chakan, Maharashtra; Halol, Gujarat; and Pantngar, Uttarakhand). ASA Ltd provides an expansive product mix that can be classified into three categories: structural panels and skin panels for the vehicle body, BIW modules, and aggregates, which includes chassis subassemblies, under body, and oil sump and fuel tanks.

ASA Ltd began as JBM Tools Ltd in March 1990 and was promoted by the SK Arya group and Haryana State Industrial Infrastructure Development Corporation. In October 1990, JBM Tools began operations in Faridabad to develop dies, moulds, and tools for OEMs. In January 1994, they started manufacturing sheet metal components, and in March 1994 their shares were listed on the Bombay Stock Exchange. In December 1995 they set up a new manufacturing plant in Bhosari and, in February 1997, started another manufacturing operation in Halol.

In July 1997, TACO and TIL entered a 50-50 joint venture with the then promoter SKA. In August 1997, they entered a joint venture with South Korea's Sung Woo Metal Co Ltd and Japan's Mitsubishi Corporation, followed by a joint venture with the UK's Krupp Camford Ltd in December 1997. In January 1998, they set up a new plant in Chakan and began commercial operations.

In February 2007, ASA Ltd entered into a share purchase agreement with Gestamp Servicios S.L., and Gestamp Servicios S.L. became a joint promoter by acquiring a 37.49% stake. In December 2010, TACO acquired the entire stake of Gestamp and the company became a subsidiary of TACO. At present, ASA Ltd has 3 expansion projects underway, which are expected to be completed by the end of 2011 and March 2012, respectively. The company sells its products to prestigious customers like Tata Motors Ltd, General Motors, India Pvt Ltd, Fiat India Automobiles Ltd, John Deere Equipment Pvt Ltd, and also exports its products to Ford Motor Company Ltd UK.

Share Price: ₹620.55 per share as on 21 Nov, 2024 04:01 PM
Market Capitalisation: ₹1,005.84Cr as of today
Listing date: 18 Feb, 1998