CONTENTS 01 an Insight
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Appeasing Past CONTENTS 01 an Insight Corporate Financial Corporate 04 Information 06 Highlights 08 Profile Facilities Our Strength & Process Aspirations our Employees 10 13 16 Capabilities Our product Technology Industry categories at Cell & Commercial Segments 18 Tool Room 19 19 a glance Message from 22 Customers 24 Managing Director 27 Notice Management Corporate Directors’ Report Discussion Governance 37 42 and Analysis 49 Profit & Loss Auditors’ Report 66 69 Balance Sheet 71 Statement Notes forming Cash Flow Consolidated part of the Statement Auditors’ Report 72 73 Financial Statements 94 Consolidated Consolidated Consolidated Profit Cash Flow Balance Sheet & Loss Statement 95 97 98 Statement Notes forming part Statement under section 212 of of the Consolidated Companies Act, 1956 relating to 99Financial Statements 121 Subsidiary Company Appeasing PAST An Insight Omax Autos Limited has successfully completed 31 years of its journey giving us an opportunity to review the milestones achieved during the span. The biggest achievement is the trust of the giants of the industry that now motivates us to work with more enthusiasm. This also enables us to mark new goals and aspire for bigger objectives. 01 Annual Report 2013-2014 OMAX AUTOS LIMITED APPEASING PAST AN INSIGHT 1999 Established its third unit- Speedomax in Sidhrawali. Tied up with Honda- Siel Cars India Ltd. and New Holland Tractors Ltd. for supply of Body and Axle parts. 1988 1985 1997 Established The first unit started in its second Dharuhera as an ancillary unit Automax Bagged ISO 9002 Supplier to Hero MotoCorp. in Gurgaon. Certificate from for Sheet Metal and TUV of Germany. Tubular Welded Components. 1983 1986 1989 Omax Autos Diversified its customer Limited The year marked the base by roping in went public beginning of the name Carrier Aircon Ltd. with more “Omax Autos Limited”. in Air Conditioning than 7500 Components. shareholders. 02 2014 Seperation of Railway Division from Binola Plant 2008 2013 Merged Railway Established its Ninth Components Division Plant at Lucknow with Binola Plant to manufacture (Automax) to use chassis for commercial vehicles the available for Tata Motors. Established new Resources in Corporate Office in Gurgaon. better way. 2003 2007 2012 Established its Fifth Setup Eleventh Plant Plant- Sprocket division (Pant Nagar Plant) in Dharuhera. Automax, Gurgaon- at Udham Singh Nagar (Uttrakhand) Bagged ISO/TS- 16949, Plant merged with to supply the manufactured ISO 14001 & OHSAS- Binola Plant. products to Ashok Leyland and 18001 Certification Setup 2.5 MW Wind from UL India for all Plants. Power Project in Jaisalmer, Rajasthan. 2002 2006 2011 Established its Fourth Plant Started using Pipe Natural Gas at Manesar with a capital (2 0,000 SCM per day) from GAIL outlay of Rs. 200 million India at Dharuhera and Manesar equipped with modern Tool SAP rolled out Plants. A major step for power Room, R&D Centre with in all Eight plants and fuel cost reduction and state of the art machinery across India. contributing to began production. Greener Environment. 2001 2005 2010 Commercial production A new phase of started at Lucknow plant. Kaizen activity - Established its Set up tenth plant at Bawal to Various Training Eighth Plant at Manufacture Home Furnishing & HR activities Binola, Gurgaon Products. Installed started in for catering 100 KWP Solar PV System all plants. export clients. at Dharuhera & Manesar plant for captive use. 2000 2004 2009 Established its Sixth Plant at Bangalore Tied up with IKEA for supply Set up the ultra having machining & sheet metal of Metal Houseware Products. modern Paint Shop manufacturing facilities. Established Recognition granted for In-house R&D with latest technology its Seventh Plant-Indital at Dharuhera. unit at Manesar by DSIR. Rolled out from ABB India Ltd. Started Exports to North America 10th dedicated facility at Gurgaon for at Speedomax Plant. and Europe with clients such as manufacturing various parts and Delphi, Tenneco, Cummins, Piaggio etc. components for Indian Railways. 03 Annual Report 2013-2014 OMAX AUTOS LIMITED CORPORATE INFORMATION Chairman Emeritus: Dr. Brijmohan Lall Munjal Board of Directors Mr. Suresh Chand Mathur Chairman Dr. Ramesh Chandra Vaish Director Dr. Triloki Nath Kapoor Director Mr. Salil Bhandari Director Mr. Verinder Kumar Chhabra Director Mr. Atul Raheja Director Dr. Lalit Bhasin Director Mr. Jagdish Chandra Jhuraney Whole-time Director Mrs. Sakshi Kaura Whole-time Director Mr. Jatender Kumar Mehta Managing Director Mr. Ravinder Mehta Managing Director Audit Committee Dr. Ramesh Chandra Vaish Chairman Dr. Triloki Nath Kapoor Member Mr. Atul Raheja Member Mr. Verinder Kumar Chhabra Member Mr. Salil Bhandari Member Mr. Jatender Kumar Mehta Member Company Secretary & Compliance Officer Mr. Sanjeev Kumar Statutory Auditors Internal Auditors M/s A. Kumar Gupta & Co. M/s KRA & Associates Chartered Accountants M/s Singhi Chugh & Kumar M/s Doogar & Associates Chartered Accountants Cost Auditors Secretarial Auditors M/s Ravi Sahni & Co. M/s Chandrasekaran Associates, Cost Accountants Company Secretaries Senior Management Executives Mr. Naresh Chand Kaushik President & CEO (Two/Three Wheeler) Mr. Kishor Karnatki President & CEO(PC & CV) Mr. Pushpendra Kumar Bansal Chief Financial Officer Mr. Devashish Mehta Head- Marketing 04 Corporate Office: Manesar Plant Registered Office & Plot No. B-26, Institutional Area, Sector 32, Omax Autos Limited Dharuhera Plant: Gurgaon (Haryana)- 122001 Plot No. 6, Sector- 3, IMT Manesar, Omax Autos Limited Gurgaon (Haryana)- 122050 69 K. M. Stone, Delhi Jaipur Highway, Dharuhera, Distt. Rewari (Haryana)-123106 Sidhrawali Plant Bangalore Plant Lucknow Plant Speedomax (A unit of Omax Autos Limited) Omax Autos Limited Omax Autos Limited 64 K.M.Stone, Delhi- Jaipur Highway, Village Plot No. 6, Bomassandra- Jigani Link Road, Tata Motors Vendor Park, Chinhat Industrial Sidhrawali, Gurgaon (Haryana)-123413 Bomassandra, Banglore (Karnataka)- 560099 Area, Deva Road, Lucknow (U.P.)-226019 Binola Plant Bawal Plant Dharuhera Plant III Automax (A unit of Omax Autos Limited) Omax Autos Limited Sprocket (A unit of Omax Autos Limited) Delhi- Jaipur Highway, Village & P.O Binola (Home Furnishing Division) Plot No. 2, Sector-5, 69 K.M.Stone, Delhi Jaipur Highway, Gurgaon (Haryana)- 123413 Bawal, Distt. Rewari(Haryana)-123501 Dharuhera, Distt. Rewari (Haryana)- 123106 Pant Nagar Plant Omax Autos Limited Vill.& P.O. Lalpur, Rudrpur-Kichha Road Khasra No.180A,181,183,175 Distt.U.S.Nagar Uttrakand-263153 Registrar & Share Transfer Agent Bankers M/s Link Intime India Private Limited ‹ Canara Bank (Formerly M/s Intime Spectrum Registry Limited) ‹ Citi Bank ‘N.A’. 44 Community Center, 2nd Floor, ‹ Kotak Mahendra Bank Limited Naraina Industrial Area, Phase I, ‹Tata Capital Financial Services Limited Near PVR, Naraina, ‹ HDFC Bank Limited New Delhi - 110028 ‹ ICICI Bank Limited Tel: 011-41410592/93/94 ‹ The Hongkong & Shanghai Banking Corporation Ltd Telefax: 011-41410591 ‹ Standard Chartered Bank Email: [email protected] ‹ IndusInd Bank Limited 05 Annual Report 2013-2014 OMAX AUTOS LIMITED FINANCIAL HIGHLIGHTS Financial Performance (As per Revised Schedule VI) ` in Lac Year ended Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Gross Sales & Other Income 97495 132901 142526 123859 111831 Net Sale and other Income 87558 117222 129775 110685 98500 Export Sales 8500 10711 9672 6588 1895 Gross Profit (PBIT) 7789 8943 9813 7945 5006 Net Worth 16139 17878 20193 21495 20869 Capital Employed 28329 32826 32196 32971 28659 Net Profit (PAT) 1430 2143 2813 1551 -626 Fixed Assets (Net Block) 31619 30173 32028 31277 31317 Key Indicators Year ended Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Gross Profit Margin (%) 8.90 7.63 7.56 7.18 5.08 Net Profit Margin (%) 1.63 1.83 2.17 1.40 -0.64 Export Sales/Net Sales (%) 9.71 9.14 7.51 6.00 1.94 Long Term Debt/Equity (%) 0.90 0.96 0.71 0.64 0.48 Earning per Share (` ) 6.64 9.95 13.15 7.25 -2.93 Dividend pers Share (` ) 1.50 2.00 2.00 1.00 Nil Book value per share (` ) 75.46 83.59 94.41 100.50 97.57 06 Gross Sale & Other Income (` in lac) Export Sales (` in lac) 10711 9672 142526 132901 123859 8500 6588 111831 97495 1895 20102011 2012 2013 2014 20102011 2012 2013 2014 Net Profit (` in lac) Net Worth (` in lac) 21495 2813 20869 20193 2143 17878 1551 16139 1430 2014 2010 2011 2012 2013 20102011 2012 2013 2014 -626 Gross Proft (PBIT) (` in lac) Book Value/Share (`) 100.5 97.57 94.41 9813 83.59 8943 75.46 7945 7789 5006 20102011 2012 2013 2014 20102011 2012 2013 2014 Earning Per Share (`) Gross Profit Margin (%) 13.15 8.90 7.63 7.56 9.95 7.18 5.08 7.25 6.64 2014 2010 2011 2012 2013 20102011 2012 2013 2014 -2.93 07 Annual Report 2013-2014 OMAX AUTOS LIMITED CORPORATE PROFILE A Vision Driven Mission & A Mission To Excel O max Autos Ltd. is a world class auto/non auto boasting a comprehensive range of modern component & assembly manufacturer in India. With machines and a production facility designed to give a turnover INR 976 crore in financial Year 2013-14 optimum output as per a customer's specifications. , strong work force and several international We are a front-running OEM Supplier (Parts & accreditations, we feature in the list of the top 10 Assembly) and leading Auto Component automotive component manufacturers in India. Manufacture. OMAX saga began in 1985 & today Omax is proud Our Stronghold extends to a sweeping range of to run and manage 9 fully-functional manufacturing industries, including Automotive ( 2W, 3W, PC & CV), plants pan India. OMAX Autos has a robust