SAL Automotive Ltd

(539353)

Swaraj Automotives Limited (SAL) was incorporated in 1974, and is an important emerging supplier to India's automotive industry. They manufacture diverse automotive components including tractor seats, LCV Light Commercial Vehicles seats, and agricultural implements such as Rotavators, Tractor Trolleys and Planters. Initially, the company was inaugurated by the Honble President of India as Punjab Scooters Limited, and began manufacturing scooters. The Company diversified into manufacturing seats in 1986 and seat mechanisms in 1994 with a technological tieup with Japan's Fuji Kiko company. In 2016, the company began a restructuring supported by Mahindra & Mahindra Ltd, who sold their equity stake worth 71.19%, to B4S Solutions Private Ltd; who then made an open offer to acquire 25.82% of the total equity stake. After completion of the process, B4S Solutions Private Ltd became the promoter of the company with 88.28% total equity shareholding. In 2017, they divested a total of 158359 equity shares to comply with minimum shareholding regulations; and in 2018 the remaining 6.68% shareholding was divested. To expand their manufacturing abilities, the company set up a new seat and seat frame manufacturing facility in Dharwad, Karnataka, which began operations in January 2018. Furthermore, an additional manufacturing facility was under construction in Rudrapur, Uttrakhand from 2021, at a cost of Rs. 15.37 lakhs which is accounted for in CWIP and revenues.

Share Price: ₹579.95 per share as on 21 Nov, 2024 04:01 PM
Market Capitalisation: ₹134.94Cr as of today
Chairperson Name: Rajiv Sharma.