Metalman Auto rec’d Sebi nod

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What is the business of Metalman Auto?

Metalman Auto is one stop shop for sheet metal, tubular fabrication, metal finishing and assembly of components for original equipment manufacturers in the automotive and non-automotive sectors. Incorporated in 1986, it is one of the first metal fabrication, metal finishing and assembly companies in India along with the manufacturing processes. It is primarily focused on manufacturing metal components for: (i) two-wheeler (“2Ws”) (including electric vehicles (“EVs”) and internal combustion engine (“ICE”)), (ii) three wheelers (“3Ws”), (iii) passenger vehicles (“PVs”), (iv) commercial vehicles (“CVs”), (v) agri-vehicles (“AVs”) and (vi) off-highway vehicles (“OHVs”). It also undertakes fabrication and manufacturing of aesthetic focused components for white body goods (such as front and rear panels and rear covers of washing machines) and contract manufacturing for 2W EV OEMs.

Its portfolio of offerings of automotive and non-automotive components caters to a diversified customer base across 2W, 3W, PV, CV, AV and OHV categories. Further, it has also recently extended its offerings to EVs in the 2W category in Financial Year 2020. A significant portion of its offerings in automotive sector for 2W category are powertrain agnostic catering to EV as well as ICE OEMs and encompass a range of automotive components designed to meet diverse customer needs across powertrain options. Its ability to cater to both EV and ICE offerings by automotive OEMs insulate it to an extent against transition in industry trends towards any particular sector, and positions us to leverage growth in the CV category. Further, the OHV category is expected to grow at 10% to 12% by Financial Year 2029. It entered the OHV category in Financial Year 2007 and has continued to have a presence in this growing category, which it intends to leverage as part of its strategies for business growth.

In Financial Year 2024, Hero, Bajaj, Honda and TVS were the top four 2W OEMs in India and contributed to over 80% of the annual sales. Further, Bajaj is also the largest 3W OEM in India, in terms of production volume as of Financial Year 2024. It supplied its products to each of the top 4 2W OEMs and to the largest 3W OEM in India, Bajaj, in Financial Year 2024. In Financial year 2024, one out of every four high speed EV scooters sold in the India, one out of every five 2W motorcycles exported from the country and one out of every 10 2W sold in the India was fitted with frames/chassis manufactured by it thereby, establishing its position as a supplier in the 2W segment.

In addition to its customers in India, the Company also caters to customers overseas in USA, Canada, Brazil, Chile, Germany, Italy, Sri Lanka, Thailand, Finland, Romania, France and Taiwan, in the 2W, PV and OHV categories through export of components such as main stand, side stand, handle bars, foot brake levers for 2Ws and connecting link rods for PVs and tensioner assemblies and agri-pads for OHVs. It has entered into three third party warehousing arrangements on a vendor managed inventory (“VMI”) basis to service our customers in Romania, Germany and USA.

For more information, click www. metalmanauto.com 

Metalman Auto IPO GMP grey market premium, review, Subscription, allotment, listing estimate

Metalman Auto IPO Review bu Paresh Gordhandas, CA & Research Analyst.

We will update our Review & Guidance, once the price band and other details are announced by the company.

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Metalman Auto IPO GMP grey market premium, review, Subscription, allotment, listing estimate