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Transcript of keic.mica-apps. Report/384 MIL-AR-2016-17.pdf nurturing ideas for toMorrow, deveLoping futuristiC...

  • Ideas to technologIes C o n n e C t i n g

    of UNo MINDA GRoUP

    Minda industries Ltd. 25th annual report 2016-17

  • nurturing ideas for toMorrow, deveLoping futuristiC teChnoLogies.

    Forward looking Statement We have exercised utmost care in the preparation of this report. It contains forecasts and/ or information relating to forecasts. Forecasts are based on facts, expectations, and/or past figures. As with all forward looking statements, forecasts are connected with known and unknown uncertainties, which may mean the actual result deviate significantly from the forecast. Forecasts prepared by the third parties, or data or evaluations used by third parties and mentioned in this communication, may be inappropriate, incomplete, or falsified. We cannot assess whether information in this report has been taken from third parties, or these provide the basis of our own evaluations, such use is made known in this report. As a result of the above mentioned circumstances, we can provide no warranty regarding the correctness, completeness, and upto-date nature of information taken, and declared as being taken, from third parties, as well as for forward looking statements, irrespective of whether these derive from third parties or ourselves. Readers should keep this in mind. We undertake no obligation to publicly update any forward- looking statements, whether as a result of new information, future events or otherwise.

    What’s InsIde

    Statutory Reports25 25 Corporate Information 26 Board’s Report

    Corporate Overview02 02 MIL consolidated

    (MINDA) in figures 03 Company Profile 04 MIL’s Organisational

    Structure 05 Innovating future-ready

    Products 10 Chairman’s Message 12 Financial Highlights 14 In Conversation with

    the Group CFO 16 Our Esteemed Customers 17 Looking back at 2016-17 18 What sets MIL apart? 20 Growing International

    Presence 21 Strategic Manufacturing

    Locations 22 Profile of Board of

    Directors 24 The Leadership Team

    Financial Statements77 77 Standalone

    Financial Statements 129 Consolidated

    Financial Statements

  • We see ideas in technology that may positively impact our World tomorroW. the seed of every such idea deserves to be nurtured by infusing technologies that Will sustain and endure.

    fired by this belief, uno minda ventured into neW areas of technology that Will help create better mobility solutions including advanced systems for driver assistance and developing future automotive systems.

    uno minda has nurtured ideas for tomorroW to develop advanced technologies that Will improve driving experience—providing solutions for the automotive industry and remain ahead of the curve.

    To change The way Tomorrow’s vehicles are driven we are driving in Technologies of fuTure.

  • MIL consoLIdated (MInda) In fIgures

    minda is present in 4 continents and more than 7 countries

    minda, a supplier of choice to 4W, 3W and 2W as well as off-road vehicles

    minda invests in 4 R&D and 21 design centres across the globe

    minda collaborates with 12 distinguished global technology leaders

    minda reaches out to its customers through 10,000+ touch points

    minda has a 15,000+ strong & diversified workforce including 70% women (on shop floor)

    minda holds 145+ product patents and 165+ design registrations

    minda has created a strong supplier base of more than 1000

    minda offers a bouquet of products to over 50 OEMs

    minda owns 43 manufacturing facilities globally

    Minda Industries Limited Annual Report 2016-17


  • coMpany profILe

    Identity and heritage

    established in 1958, by late shri s. l. minda, the organisation has acquired rich industry experience growing both organically and by strategic acquisitions. currently headed by nirmal K minda, the company has 12 direct subsidiaries and 7 step-down subsidiaries, 3 joint venture companies and 5 associate entities with their headquarters in manesar, gurgaon (haryana), india.

    from just one product in 1958 to more than 20 products in 2017, uno minda has emerged as one of the leading suppliers of proprietary automotive solutions to oems over more than six decades. With a consolidated turnover of over H3,505 crore reported on 31 march, 2017, the company has established an entrenched presence in the automotive replacements market with a revenue share of 13%. as a b2b company we have forged strong bonds with our global business partners providing them top-of-the-line technology products.

    Portfolio (MIL Consolidated)

    switching systems

    acoustic systems

    lighting systems

    alternate fuel systems

    sensors, actuators & controllers

    fuel caps

    blow molding systems

    aluminum casting

    alloy Wheels



    air filtration systems & canisters


    pcbs and box build assemblies

    rpas & daps

    We are

    a trusted partner for leading oems across the globe

    a global player with a strong domestic and international presence

    a component player engaged in design, development and manufacturing of world-class products

    Our Core Values

    treat customer as supreme

    live the quality you deliver

    encourage creativity & innovation to drive the 3ps (people, processes & products)

    respect each human being

    maintain ethics at workplace


    Corporate Overview 02-24

    Statutory Reports 25-76

    Financial Statements 77-185

    MINDA INDustrIes LtD (MIL) IN fIgures CoMpANy profILe

  • MIL’s organIsatIonaL structure


    Our business verticals

    switches Lamps Horns CNg/Lpg kits fuel caps


    associaTesJoinT venTuresoverseas subsidiariesdomesTic subsidiaries

    GLOssary PrOduCts MIL: minda industries limited switch, horn, lamp MKL: minda Kyoraku limited blow molding MACL: minda auto components limited handle bar assembly MDsL: minda distribution and services limited after market MKAWL: minda Kosei aluminum Wheel private limited alloy Wheel rIpL: rinder india private limited lamps MsBpL: minda storage batteries private limited batteries ptMA: pt minda asean automotive, indonesia switch & lamp MIVCL: minda industries vietnam company limited switch ptMt: pt minda trading, indonesia switch LstC: light & systems technical centre s. l spain r&d roKI: roki minda co. pvt. ltd. filter & canisters MetL: minda emer technologies limited cng & lpg kits riduco: rinder riduco, s. a. s., columbia lamps MNgtL: minda nexgentech ltd projects MrpL: mindarika private limited 4W switch KMAC: Kosei minda aluminum company pvt. ltd. alloy Wheel

    MKL MNgtLMetL

    MDsL Auto Component (firm)

    Minda tg rubber

    MJ Casting MrpLriduco (via LstC)

    MKAWL yogendra (firm)




    yA Auto (firm)

    sam global




    global Mazinkert

    Clarton Horn, Morocco


    Clarton Horn, spain

    Clarton Horn, Mexico

    CH, signalkoustic

    Minda Industries Limited Annual Report 2016-17


  • InnovatIng future-ready products

    Handle Bar switches using 1 dome technology

    uno minda – switch div has for the first time developed 2-Wheeler low ampere switch using dome technology. the dome technology ensures an extremely reliable contact system that can withstand even the most rugged system. it is lightweight and low profile design, helping meet the low ampere switching requirement.

    2 acceleration Position sensor

    uno minda – sensor, actuator & controllers div. introduced a new mechanism of cruise control cancellation with ‘accelerator position sensor’ used in automotive applications for 2-Wheelers.

    electronic throttle control system is used in motorcycles to improve drivability and improve safety by addition of adaptive cruise control function.

    3 LEd Head Lamps

    rinder india, an uno minda group company, introduced led head lamps for motorcycles and scooters in india. this helped substantially enhance the night visibility and therefore increase the road safety.

    led technology opens a new path for intelligent motorcycle and scooter head lamps that will adapt the light to the user requirements enabling new features that the new digital environment can offer.

    4 Electronic Horns

    clarton horn, an uno minda group company designed and developed a 79mm diameter electronic horn with extensive durability of more than 2,000,000 cycles 1on-4off. it is inbuilt with an intelligent adaptation of adequate control of battery voltage and protected against extreme temperatures. each horn is programmed with an optimal frequency with electronics shielded from coil and protected by encapsulation. the overall components in the horns are reduced with an optimum membrane designed to prevent temperature induced variations of resonance.





    Corporate Overview 02-24

    Statutory Reports 25-76

    Financial Statements 77-185


    MIL’s orgANIsAtIoNAL struCture INNoVAtINg future-reADy proDuCts

  • Transforming mobility...

    With each pas