NDR Auto Components Ltd Share Price

Description

• NDR Auto Components Limited was incorporated as a Public Limited Company in India on March 19, 2019. The Company operates in the auto components industry and is engaged in production and manufacturing of seat frames and seat trims for four-wheeler and two-wheeler vehicles and other accessories relating to car seats. The Company has manufacturing plant currently located at Gurugram. The Company is currently a dedicated supplier to Bharat Seats Limited and is engaged in the production and manufacturing of seat frames and seat trims for passenger and utility vehicles manufactured and sold by Maruti Suzuki India Limited. The Company has a complete set up of robotic welding cells, CNC tube bending machines, power presses to make critical press parts in various steel grades, CNC fabric and leather cutting machines, stitching machines to meet increased quality requirements of the customer. Recently, the Company also started producing stamping and welded BIW (Body in White) parts for a Tier-1 automotive customer ultimately for use on vehicles produced by Maruti Suzuki India Limited. The Company is also in the process of setting up a manufacturing plant at Harohalli, in Bengaluru for manufacturing seat frames and seat trims for supply to Toyota Boshoku Automotive India Private Limited. The Company had filed a Scheme of Arrangement before the Hon`ble National Company Law Tribunal (NCLT), Delhi. Pursuant to the Scheme of Arrangement between Sharda Motor Industries Limited (SMIL) and NDR Auto Components Limited, the "Automobile Seating Undertaking" was demerged and transferred to NDR Auto Components Limited on a going concern basis along with all assets and liabilities pertaining to "Automobile Seating Undertaking". The Scheme was sanctioned by NCLT vide Order dated February 20, 2020 (Certified Copy received on March 11, 2020) and is effective from March 16, 2020 i.e. the date on which Order of NCL was filed with ROC. The Appointed Date being end of day of December 31, 2018. Pursuant to the Scheme, the Automobile Seating Business of Sharda Motor Industries Limited stood demerged in the Company. Further, the investments made by SMIL in Bharat Seats Limited, Toyota Boshoku Relan India Private Limited and Toyo Sharda India Private Limited also stood transferred in the name of the Company. Consequently, these Companies became associates/joint venture of the Company as per the provisions of Companies Act, 2013. The Company has incorporated latest manufacturing technology in house such as robotic welding, CNC tube bending machines, stamping of steel parts with different tensile strengths, CNC cutting of fabric and leather, stitching of seat covers. In addition, the manufacturing system design is continuously reviewed to realize improvement in product quality and thereby meet increasing customer requirements for quality and productivity. During the year 2021, the Company extended product development and manufacturing to BIW (Body in White) automotive parts. To maintain and enhance the product quality to meet international standards, the employees are put through a rigorous training program at dojo centres so that their skill matches the desired output.

• NDR Auto Components Limited was incorporated as a Public Limited Company in India on March 19, 2019. The Company operates in the auto components industry and is engaged in production and manufacturing of seat frames and seat trims for four-wheeler and two-wheeler vehicles and other accessories relating to car seats. The Company has manufacturing plant currently located at Gurugram. The Company is currently a dedicated supplier to Bharat Seats Limited and is engaged in the production and manufacturing of seat frames and seat trims for passenger and utility vehicles manufactured and sold by Maruti Suzuki India Limited. The Company has a complete set up of robotic welding cells, CNC tube bending machines, power presses to make critical press parts in various steel grades, CNC fabric and leather cutting machines, stitching machines to meet increased quality requirements of the customer. Recently, the Company also started producing stamping and welded BIW (Body in White) parts for a Tier-1 automotive customer ultimately for use on vehicles produced by Maruti Suzuki India Limited. The Company is also in the process of setting up a manufacturing plant at Harohalli, in Bengaluru for manufacturing seat frames and seat trims for supply to Toyota Boshoku Automotive India Private Limited. The Company had filed a Scheme of Arrangement before the Hon`ble National Company Law Tribunal (NCLT), Delhi. Pursuant to the Scheme of Arrangement between Sharda Motor Industries Limited (SMIL) and NDR Auto Components Limited, the "Automobile Seating Undertaking" was demerged and transferred to NDR Auto Components Limited on a going concern basis along with all assets and liabilities pertaining to "Automobile Seating Undertaking". The Scheme was sanctioned by NCLT vide Order dated February 20, 2020 (Certified Copy received on March 11, 2020) and is effective from March 16, 2020 i.e. the date on which Order of NCL was filed with ROC. The Appointed Date being end of day of December 31, 2018. Pursuant to the Scheme, the Automobile Seating Business of Sharda Motor Industries Limited stood demerged in the Company. Further, the investments made by SMIL in Bharat Seats Limited, Toyota Boshoku Relan India Private Limited and Toyo Sharda India Private Limited also stood transferred in the name of the Company. Consequently, these Companies became associates/joint venture of the Company as per the provisions of Companies Act, 2013. The Company has incorporated latest manufacturing technology in house such as robotic welding, CNC tube bending machines, stamping of steel parts with different tensile strengths, CNC cutting of fabric and leather, stitching of seat covers. In addition, the manufacturing system design is continuously reviewed to realize improvement in product quality and thereby meet increasing customer requirements for quality and productivity. During the year 2021, the Company extended product development and manufacturing to BIW (Body in White) automotive parts. To maintain and enhance the product quality to meet international standards, the employees are put through a rigorous training program at dojo centres so that their skill matches the desired output.