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Honda Cars India Eyes Rs 1,675 Crore Revenue From Parts Exports
2016 Honda Accord. (Image: News18.com)
Auto major Honda Cars India (HCIL) expects its components export to jump by over 62 percent to around Rs 1,675 crore in the current fiscal as it adds new global operations of parent Honda where it supplies the parts.
HCIL supplies different engine parts, forgings and transmissions along with others to Honda, produced at its Tapukara plant in Rajasthan.
"We expect turnover from component exports to touch Rs 1,674.7 crore during this fiscal. We have seen constant growth in the business vertical over the past few years," HCIL Senior Vice-President and Director Raman Kumar Sharma told PTI.
Honda Cars India Ltd (HCIL), a wholly-owned subsidiary of the Japanese auto major, had posted revenue of Rs 1,031.2 crore from exporting components last fiscal. Currently, the company exports components to Honda's operations in 15 countries -- Japan, Thailand, Malaysia, Indonesia, the Philippines, Taiwan, Vietnam, the UK, Brazil, Mexico, Argentina, Canada, China, Turkey and the USA.
Honda's exports of auto components from India have been gradually increasing.
In 2012-13, its component exports had a turnover of Rs 332 crore. It rose to Rs 420.6 crore in 2013-14 and to Rs 739.3 crore in 2014-15. The company also increased its global footprint during the period, starting from seven countries in 2012-13 to 11 countries in 2014-15 and to 14 countries in 2015-16. Honda India has also been playing a key role in supplying diesel engine parts to its Japanese parent's operations, Sharma said.
The Tapukara plant was commissioned in February 2014. It integrates various functions like forging, casting, stamping, powertrain components production, welding, painting and engine and frame assembly.