Worst over for auto ancillary companies: Sona Koyo Steering

Harish Sheth, CMD, Setco Automotive is of the view that scenario in the commercial vehicle (CV) sector has also improved considerably.

Expect M&M to unveil new products and see good growth

Surinder Kapur

CMD

Sona Koyo

India's automobile sector seems on a road to recovery. For August sales, the numbers reported were much better than expected across the board . Surinder Kapur, chairman,  Sona Koyo Steering Systems believes that worst is over for auto ancillary companies.

Sona Koyo, largest manufacturer of steering systems for PVs and UVs in India, has been focusing on domestic OEMs, he said. Speaking about the latest happenings in the company, Kapur said its FY revenue growth will not be more than 11 percent, but its margins are likely to improve.

He further added that Maruti Suzuki , which holds 6.9 percent stake in the company, contributes 45 percent to its revenues.

Meanwhile, Harish Sheth, CMD,  Setco Automotive is also of the view that scenario in the commercial vehicle (CV) sector has also improved considerably. He foresees 30 percent growth in CV sector in second half as against first half of CY14. Setco Automotive is largest maker of clutch assemblies for CV sector.

More to follow
 

Sona Koyo Stee stock price

On September 02, 2014, at 11:09 hrs Sona Koyo Steering Systems was quoting at Rs 46.70, up Rs 2.40, or 5.42 percent. The 52-week high of the share was Rs 47.00 and the 52-week low was Rs 9.00.

The company's trailing 12-month (TTM) EPS was at Rs 2.83 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 16.5. The latest book value of the company is Rs 14.83 per share. At current value, the price-to-book value of the company is 3.15.

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