Gabriel annual report

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  • 1. Board of DirectorsDeep C AnandChairmanK N SubramaniamManaging DirectorRussi Jal TaraporevalaC S PatelRavi K SinhaJaithirth RaoPadmini Khare KaickerM S SandhuArvind Walia - Wholetime DirectorManufacturing FacilitiesChander Nagar Indl. AreaDelhi-Jaipur HighwayGurgaon 122 001 (Haryana)B-2 MIDCAmbad Indl. AreaNashik 422 010 (Maharashtra)5, Industrial Area No. 3Agra-Mumbai RoadDewas 455 001(Madhya Pradesh)Plot No. 5, Sector II

2. Parwanoo 173 220(Himachal Pradesh)29th MilestonePune-Nashik HighwayVillage KuruliTaluka KhedPune 410 501 (Maharashtra)52-55, S.No. 102/3 -106 (PT)Sipcot, Phase - IIMoranapalli VillageHosur 635 109 (Tamil Nadu)B-193, Phase -IIDist. Gautam Budh NagarNoida 201 305 (Uttar Pradesh)Corporate Offices1 Sri Aurobindo MargNew Delhi 110 016Magnet HouseN M MargBallard EstateMumbai 400 038Registered office29th MilestonePune-Nashik HighwayVillage Kuruli 3. Taluka KhedPune 410 501(Maharashtra)Tel: 02135-261091/098/012Fax: 02135-561935mail: India LimitedFinancial Controller &Company SecretaryManoj TulsianBankersStandard Chartered BankBank of IndiaICICI BankPunjab National BankIndusInd BankCiti BankAuditorsPrice Waterhouse & Co.SolicitorsUdwadia & Udeshi2 ANNUAL REPORT 2007FinancialHighlights 4. 2006-07 2005-06Domestic Sales (Rs Million) 5941.8 5461.2Export Sales (Rs Million) 69.4 156.2Total Sales (Rs Million) 6011.2 5617.4Profit Before Tax (Rs Million) 981.5 152.9PBT as a % to Sales 16.3 2.7Profit After Tax (Rs Million) 731.1 88.4PAT as a % to Sales 12.2 1.6Return on Net Worth (%) 55.9 8.9Net Worth per Share (Rs) 18.2 13.9Earning per Share (Rs) - Basic & Diluted 10.2 1.2Dividend per Shares (Rs) 0.7 0.7Dividend Cover (Times) 4.8 2.7Return on Total Assets (%) 24.4 2.83 GABRIEL INDIA LIMITEDCompanyHighlightsTS 16949: 2002 certification for Gurgaon facilityGurgaon facility commences Strut supplies to Marutis new Sedan modelSX4 under Technical Assistance of KYB Corporation, JapanGurgaon Plant bags order for YC5 business for supply of ShockAbsorbers and Struts for the new Suzuki export model with TechnicalAssistance from KYB Corporation, JapanChakan Plant receives order for Tata Motors X3, Renault Logan domesticand global requirements, Tata Motors Panel Van and Tata Motors New 5. Safari (X2)Capacity expansion at Chakan Plant to meet increasing demand fromPassenger vehicle segmentHosur Plant receives order from TVSM for the Indonesia projectHosur Plant receives order from Suzuki for Scooters & MotorcyclesOrder also received from Yamaha for its advanced mobikesStrategic Sourcing - Component procurement from China for 2-wheelersegmentParwanoo Plant for Shock absorbers ready for Commercial production4 ANNUAL REPORT 2007Gabriel a name synonymous withRide Control Products is the leadingmanufacturer of Shock Absorbers,Struts and Front Forks. The world-classquality of Gabriels Ride Controlproducts has helped establish a strongpresence both in domestic OE as wellas overseas markets.Beginning with a single plant in Mulund,Mumbai, set-up in 1961, the Companyhas seen phenomenal growth and nowboasts of seven manufacturing facilitiesfor Ride Control Products. The Mulundproperty of Gabriel India was recentlysold. 6. CompanyProfileNashik, Chakan, Dewas, Noida, Hosurand Parwanoo are all QS 9000certified; Hosur, Dewas and Chakanplants have ISO 14001 and OHSAS18001; Mulund ISO 9000; Hosur,Dewas, Noida, Nashik, Gurgaon andChakan facilities have TS 16949: 2002Certification.Today, Gabriel India is uniquelypositioned to meet the growingdemand for high performanceproducts because of its timelyinvestments in capacity expansionand upgradation of assets andtechnology, coupled with over fourdecades of experience.Ride ControlProductsPlant. With a combined manufacturingcapacity of well over 15 million ShockAbsorbers, Struts and Front Forks,these plants cater to the requirementsof all markets - OE, Replacement and 7. Exports - for application in four, threeand two-wheelers, as well as the IndianRailways. To enable JIT supplies to itsOE customers, Gabriel has strategicallylocated most of its facilities close to itscustomers.BOTTOM RIGHT: Limb Assembly cell at Gabriel-Noidabeing inaugurated by Mr A Dhawan,GM-QA, YamahaMotors IndiaTOP: Mr Ryuichi Okashito, Manager-Engineering Dept.,Toyota Technical Centre, Asia Pacific, Toyota MotorCompany and the delegation from KYB Corp., Japanwith Gabriel India team, on their visit to Gabriel-ChakanCENTRE: Mr Horonori Iguchi, Director (Board Member),and Mr Izumi Shibuya, Dy. GM-QC, Suzuki MotorcycleIndia on a visit to the Hosur plantThe Dewas facility set-up in 1992,recorded its highest production level of1.99 million Shock Absorbers this year.The plant manufactures hydraulic, gas-pressurised and spring seat ShockThe Ride Control facilities of GabrielIndia are located in Dewas, Gurgaon,Hosur, Nashik, Noida, Chakan nearPune and Parwanoo, an upcomingBOTTUM LEFT: L-R: Mr Sandeep Padmam, 8. Executive-QA and Mr Vikas Lakhanpal, Sr. Executive-Procurement, Honda Motorcycles and ScootersIndiaon a visit to Gabriel-Noida5 GABRIEL INDIA LIMITEDAbsorbers as well as Cartridges forpassenger cars and commercialvehicles. The plant is a single sourcesupplier to Tata Motors, Lucknow andthe newly launched Tata Ace vehicle.Gabriel has 80% share of the ShockAbsorber business with Ashok Leylandsupplied by Dewas plant. The plant isalso a major supplier to other OEMcustomers like Eicher Motors, SwarajMazda, Hindustan Motors, ForceMotors and Mahindra & Mahindra. Theplant has also initiated MaynordOperations Sequence Technique(MOST) and Anand Production System(APS) initiatives for better performanceof Quality, Cost & Delivery.Gabriel Indias first Strut plant was setup in Gurgaon primarily to cater to therequirement of Maruti. Today, thisfacility is also manufacturing Struts withtechnological assistance from KYB 9. Corp., Japan, giving Gabriel India anedge over other manufacturers inoffering a wider range of products fornew passenger car models. The facilitycommenced Strut supplies to Maruti forSX4 and has recently bagged an orderfor supply of Shock Absorbers andStruts for the new Suzuki YC5 modeltargeted at Global markets.After a fresh round of capacityexpansion for Front Forks for two-wheelers, the Hosur facility of Gabrielcan now produce 0.6 Million FrontForks and 2.34 millions ShockAbsorbers per annum. Its majorcustomer for JIT supplies are TVSMotor Company at Hosur and Mysore,Honda Motorcycle and Scooters Indiaat Manesar, Gurgaon and Royal Enfieldat Chennai. Owing to the commitmentto its customers, the facility has initiatedAPS and MOST for continuousimprovement on productivity, quality,cost and delivery. Exports to itstechnical collaborators SOQIHydraulic Systems Inc., Japan 10. continued, during the year.BOTTOM: Mr K Kamaraj - Engineer, Product Engineeringof Toyota Kirloskar Motors (2nd from right), Mr K Miyahara,Project Manager, Overseas Project Group, Toyota MotorCorporation (centre), Mr S Yamaguchi, DGM, ProductDesign & Development Div., Toyota Kirloskar Motors ona visit to Gabriel Chakan plantTOP: Gabriel Dewas team with the TS16949 certificationCENTRE: Mr T Shimizu-Vice President, Mr T Yoneda-Director and Mr Haruo Tatsumi, Yamaha Motors,Surajpur, on a visit to Gabriel Hosur plantBOTTOM: Fanuc Robo Weld installed atGabriel-Chakan performs robotic welding operationsTOP : Team from Yamaha Motors and KYB Corp.,Japan on a visit to Gabriel-Hosur with the Gabriel IndiateamCENTRE: New Grinding Line installed atGabriel-Chakan during the year6 ANNUAL REPORT 2007The plant has also received orders fromSuzuki for Motorcycle and Scootersand also from Yamaha for its newadvanced mobikes proposed to belaunched in 2008.The Nashik plant, has achieved aturnover of Rs 1 billion this year. 11. Technical assistance from SOQIHydraulic Systems Inc., Japan hashelped to increase capacity formanufacturing of telescopic Front Forksto about 50,000 per month and ofShock Absorber to about 200,000 permonth. Gabriel-Nashik team has alsodeveloped and installed highproductivity Front Fork outer tube cell(termed Muda Reduction Cell)independently. The plant has baggedorders from Kinetic Motors for thesupply of Front Forks and ShockAbsorbers for its M-92, CK-100 andBlaze models.The Noida facility manufactures ShockAbsorbers and Front Forks, catering tothe requirement of Yamaha Motorcyclesand a wide range of products for theAftermarket.The Chakan facility, located near Pune,manufactures Shock Absorbers andStruts for new generation cars withTechnical Assistance from KYB Corp,Japan, KYBSE, Spain, a wholly owned 12. subsidiary of KYB Corporation, Japanand Arvin Ride Control Products, USA.The plant maintains its position as asingle source supplier for FordIkon,and Fiesta, Hyundai-Santro, Toyota-Innova, Maruti-Alto, Tata Motors-Indica,General Motors-Tavera and has startedsupplies to Mahindra Renault-Logan,Tata Motors-Indigo, General MotorsAveo-UVA and Piaggio. The Companyis also pursuing supply of ShockAbsorbers for the new generationbattery operated two-wheeler models,namely, E-Coupe, Yo-Bike and Matrix.Owing to the increase in demand of thepassenger vehicle segment, the Planthas undergone capacity expansionincluding a new Grindline importedfrom France. The Shock Absorbermanufacturing line for Railways atBOTTOM LEFT: Mr P Arul Kumar, GM, Gabriel Indiawelcoming Mr Kiyonori Yamauchi, Sr. GMPurchasePlanning and Mr Maruyama, Yamaha Motor AsianCentre Co. Ltd., Bangkok on a visit to the Hosur plantto study its capability for supply of parts to Asiancountries 13. TOP: Mr Malcolm Madeley, purchasing Manager, SearsManufacturing Co. (Europe) (2ndfrom left), Mr SRSrinath, ArvinMeritor India (behind Mr Madeley)examining the processes and the products at theGabriel-Dewas facilityCENTRE: Dr. D Sabita, MD, Tamil Nadu IndustrialCorporation of India Limited, Chennai (left) taking around of the Hosur facility with Col Satya Bhargava,GM-HR, Anand Automotive and Mr P A