Shivam Autotech Limited, incorporated in 1999, was formerly known as Munjal Auto Components (MAC). It is an integral part of the Hero Group and commenced its independent operations in September 1999 as a full-fledged, autonomous wing. The company is a significant manufacturer of transmission gears and shafts in India, specializing in the production of near-net-shaped auto transmission components primarily for Original Equipment Manufacturers (OEMs). Shivam Autotech Limited operates as a subsidiary of Dayanand Munjal Investments Private Limited.
The company manufactures and sells a broad spectrum of auto transmission components. Its product range caters mainly to OEMs in both domestic and international markets, offering transmission gears and shafts, spline shafts, plungers, and components for power train, alternators, starter motors, tractors, e-rickshaws, EPS (Electric Power Steering), magnetos, and steering systems, alongside various precision engineering components and aluminium forging parts.
Shivam Autotech reported a market capitalization of ₹399 crores based on recent data. For the full financial year ended March 2025, the company registered a net loss of ₹48.04 crores, an improvement from the ₹50.19 crores net loss recorded in the previous year ended March 2024. Sales for FY25 declined by 3.34% to ₹453.98 crores, compared to ₹469.66 crores in FY24.
The quarterly performance for Q4 FY25 indicated ongoing challenges, with the net loss widening to ₹14.76 crores in the quarter ended March 2025, compared to a net loss of ₹7.82 crores in the corresponding quarter of the previous year. Sales also declined by 12.85% to ₹107.84 crores in Q4 FY25, from ₹123.74 crores in Q4 FY24.
The company has demonstrated poor sales growth of -5.04% over the past five years, with revenue growing at a yearly rate of -5.75% over the same period, contrasting with the industry average of 8.27%. The company's market share has decreased from 0.29% to 0.14% over the last five years. It also faces challenges with a low return on equity of -54.3% over the last three years and a low interest coverage ratio, indicating financial stress.
- Market Capitalization: ₹399 Crore (Latest Available Data)
- Revenue (FY25): ₹453.98 Crore
- Net Loss (FY25): ₹48.04 Crore
- Net Loss (Q4 FY25): ₹14.76 Crore
- Book Value per Share: ₹2.39
- Face Value: ₹2.00
- 52-week High/Low: ₹64.9 / ₹23.6 (approx.)
Shivam Autotech's product portfolio encompasses a wide range of auto components and accessories, primarily including:
- Transmission Gears
- Transmission Shafts
- Alternator Components
- Starter Motor Components
- Magneto Components
- Steering Components
- Spline Shafts
- Plungers
- Power Train Components
- Precision Engineering Components
- EPS Components
- Aluminium Forging Parts
The company employs sophisticated manufacturing processes such as cold, warm, and hot forging, utilizing near-net-shape technology to produce high-precision components. Shivam Autotech is certified with ISO/TS 16949, OHSAS 18001, and ISO 14001 standards, ensuring adherence to stringent quality and environmental management systems.
The company operates four state-of-the-art manufacturing facilities strategically located across India in Gurgaon, Haridwar, Bengaluru, and Rohtak. This pan-India presence optimizes logistics and enhances operational efficiency by enabling efficient customer service across different regions.
The manufacturing journey commenced with the production of Machined GEAR Blanks from Hot Forgings in 1999-2000. Subsequently, in 2000-01, production of SPLINE SHAFTS began using Cold Extrusion with imported tooling from Japan, followed by the initiation of WARM Forgings with imported tooling from Japan.
As of March 2025, promoter holding stands at 69.52%. This represents a decrease from 74.80% recorded in September 2024, with promoter holding having reduced by 5.28% over the last quarter. The company's leadership includes Yogesh Chander Munjal as Chairman and Shakti Kant Mahana as the Company Secretary.
- Preferential Issue Approval: The company recently received in-principle approval for the listing of 9.27 million preferential shares. These shares have a face value of ₹2 and were issued at a premium of ₹24.96, with trading expected to commence from June 13, 2025.
- GST Notice: Shivam Autotech received a GST Show Cause Notice amounting to ₹19.78 lakhs. The company intends to challenge this notice and the discrepancies in tax filings.
Despite facing significant headwinds, Shivam Autotech remains a player in the automotive components sector. The company serves established OEMs, leveraging its specialized forging capabilities and near-net-shape technology. Its diversified product portfolio and strategically located manufacturing facilities provide a foundational base. However, the company needs to navigate challenges including negative sales growth, low profitability metrics, and decreasing market share. As the automotive industry evolves towards new technologies and increased demand for precision-engineered components, Shivam Autotech has the potential for recovery, contingent on strategic business and financial reforms.
