IBEF Research: Rico Auto Industries Limited

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IBEF Research: Rico Auto Industries Limited

Rico Auto Industries, is amongst the large auto components companies in India and leading supplier to Indian and global automotive OEM. It commenced operations in 1983 at Dharuhera (Haryana) with activities in aluminium high-pressure die-casting and machined components and, assemblies.

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Rico Auto is one of the largest full service suppliers of auto components and assembly.

Background:

Rico Auto Industries, is amongst the large auto components companies in India and leading supplier to Indian and global automotive OEM. It commenced operations in 1983 at Dharuhera (Haryana) with activities in aluminium high-pressure die-casting and machined components and, assemblies. In 1992 it added ferrous casting and machining capabilities at its Gurgaon (Haryana) facilities by adding a high speed moulding line. In 1996 the company entered into a 50:50 joint venture with FCC Co Ltd (Japan) to manufacture clutch and fly wheel assemblies for two wheelers and passenger cars at its plants in Manesar (Haryana).

In 2001 the company also entered in the field of Itenabled services with the formation of its wholly owned subsidiary, Rico Softech, which was subsequently amalgamated with the parent company in 2004. Consequent to the merger, Rico now offers engineering services to customers by focusing on CAD (computer aided designing), CAM (computer aided manufacturing), CAE (computer aided engineering) and tool and product design. It undertakes full-service product design and development projects including concept design, simulation, tool design, and rototyping, including development of robust manufacturing solution.

Rico is headquartered in Gurgaon. All its manufacturing facilities are ISO-14001 and OHSAS-18001 certified. As part of its capacity expansion plans, the company is in the process of setting up manufacturing facilities in Bangalore (Karnataka) and Manesar (Haryana), for which land has already been acquired. While the Manesar facility would manufacture aluminium die-casting and machining, the Bangalore facility would be used for machining and assembly, aluminium casting and ferrous casting.

Given its strong products and services range, the company is in a position to supply to prestigious automotive OEM like Hero Honda, Honda Motorcycle and Scooters India, Maruti and Tata Cummins in the domestic market. To establish a global footprint the company has chosen the route of exports. Globally it is a supplier-of-choice to companies like Ford, General Motors, Jaguar, Land Rover, Volvo, Cummins, Caterpillar, Detroit Diesel and Honeywell.

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