Moneycontrol
Get App
SENSEX NIFTY
you are here:

The Hi-Tech Gears Ltd.

BSE: 522073 | NSE: HITECHGEAR |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE127B01011 | SECTOR: Auto Ancillaries

Success
Alert
Please select a Day.
Info

BSE Live

Feb 20, 16:00
162.70 0.35 (0.22%)
Volume
AVERAGE VOLUME
5-Day
1,693
10-Day
1,011
30-Day
972
275
  • Prev. Close

    162.35

  • Open Price

    164.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Feb 20, 15:55
162.75 1.20 (0.74%)
Volume
AVERAGE VOLUME
5-Day
4,838
10-Day
4,111
30-Day
7,032
5,917
  • Prev. Close

    161.55

  • Open Price

    160.50

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    162.75 (80)

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Chairman's Speech

Dear Shareholders, Economic State of Affairs of India The last financial year has been eventful and challenging. It marked a turnaround in performance and sentiments as we witnessed an all round deceleration in the pace of growth across all sectors. This has been a global phenomenon triggered by the fairly widespread sub prime crises of the USA. Oil and commodity prices continue to soar and economies are in the grip of a cost push inflation inevitably leading to a slow down and near recessionary conditions. This spiraling trend is likely to shift and change the geo- political equations significantly. The scenario is quite grim and calls for hasty introspection, recasting of plans and innovative thinking to preempt and counter negative impacts to stay unscathed. The Indian economy being well integrated with the global markets could not be insulated from the same and experienced a slow down in its growth rates and expects further moderation going forward. The turbulence and high volatility in the currency and financial markets coupled with tight liquidity have only exacerbated the crisis and arrested the high growth rates seen in the early part of the last five years. The stock markets are now in the grip of the bears and in a short span the market cap of companies have eroded by over 50 percent. Indian industry continues to grapple with the new reality and ventures ahead with cautiously bold plans with marginal scale down. In my view, cost and availability of capital will be a major challenge to sustainable growth in the coming year. The high inflationary trends in the domestic economy also do not augur well and will lead to firmer measures from the regulatory agencies. The silver lining in all of this is the reversal in trend of the appreciating Indian Rupee which was adversely affecting exports and rendering many businesses uncompetitive while squeezing margins already under pressure from increasing commodity and oil prices. The export sector should boost its output and encash on this opportunity. The small relaxation of ECB norms by the RBI is a step in the right direction and needs to be eased further to improve accessibility of funds for continuing growth investments. Industry in India and Hi-Tech strategy for the future The automobile industry in India is the tenth largest in the world with an annual production of over 2 million units and shall keep up the growth levels in mid & long term. The automotive industry is the undisputed engine of growth for the industrial sector in India. The country continues to be a major hub attracting additional major investments from all leading automakers who have set up or in the process of setting up manufacturing units to exploit the cost and engineering skill advantages. The automotive industry directly and indirectly employs 13 million individuals in India. The industry is valued at about US$ 35 billion contributing a little over 3 % of our GDP. Indias cost- competitive auto components industry is the second largest in the world. In addition, Indias motorcycle market is also the second largest in the world with annual sales of about 6.5 million units. The first wave of growth was fuelled by the major urban centres and this is now likely to be reinforced with the burgeoning small towns and rural centres being linked through the rapidly developing transport network of the golden quadrilateral and the north- south , east-west corridors, making us the 2nd largest two wheeler market, the fourth largest commercial vehicle market and the 11th largest passenger car market of the world. During the financial year under review the passenger car segment had a healthy growth rate of 14% while the overall four wheeler segment registered a growth of nearly 12% with the MCV / HCV segment going negative by 1%. The two wheeler segment of vehicles also registered a negative growth of 5% with the motorcycle segment being the bigger loser at 8.5%. It is unclear as to how the things will shape up in the coming year at the industry level, but we remain hopeful that despite such decelerations your Company will be able to grow by penetrating into new markets and acquiring new customers. You would have noticed that our Hi-Tech Group has evolved a new design and a graphical look. The three words Passion, Innovation and Technology reflect our avowed beliefs and these are bonded by the disciplined approach that we adopt in our work culture. The seven icons are symbolic representations of our deep seated philosophies and value drivers viz. technology, people, management, commitment , partnership, global perspective and products. In keeping with our commitment to being a good and proactive corporate citizen, your Company has embarked on a program towards a healthy clean and green environment which entails reducing energy consumption by over five percent, water conservation through recycling and effluent treatment, stricter norms for pollution control over and above the statutory prescription and all round waste reduction of resources through efficient processes and recycling. These initiatives would not only contribute to social engineering but also help improve our bottomlines. Company Performance Despite all the adverse built up during the financial year 2007-2008, your Company has been able to buck the trend and register a positive growth. Your Company achieved a turnover of Rs. 31622 Lac (Previous year 29,987 Lac), recording a marginal increase of 6%. Exports too registered an increase despite the INR appreciation confirming our global competitiveness, which is quite encouraging. The many operational efficiency initiatives enabled the Company to improve its EBITDA margins by 1 %. The Net Profit (After tax) of the Company correspondingly increased from Rs. 833.08 Lac to Rs. 980.65 Lac, an increase of 18 % as compared to the previous year. It is indeed heartening to see that with focused efforts and unflagging spirits, we are moving in the right direction and now only need to gather momentum. In keeping with our philosophy of sharing the gains with our stakeholders, I am quite pleased to report that the Directors have enhanced the recommendation for final dividend to 30% i.e. Rs.3.00 per equity share as compared to 25% paid last year i.e. Rs.2.50 per equity share. We at HGL have demonstrated a Passion to Succeed, and is being reflected in the leadership position that we continue to enjoy as an independent and reputed transmission manufacturing company of the country, this is largely due to the unstinting and relentless dedication of all members of the Hi-Tech family and am confident that this will only be surpassed in the years to come. Before I conclude, I would like to thank all our business partners, associates and employees for their continuing belief and faith in Hi-Techs principles, philosophy and endeavors, and being a part of Hi- Techs growth story. I would like to assure you all that the journey will continue to be equally exciting and rewarding as we move ahead. Deep Kapuria Chairman & Managing Director