The 5-year analysis of MM Forgings Ltd's performance infers:
We analysed the performance of MM Forgings Ltd share prices over the last 10 years. Here is what we found out:
The journey of MM Forgings started as Madras Motors Limited in year 1946 as dealers of â€œRoyal Enfield Motor Cycles, UKâ€ in India. 1960s and 70s witnessed a boom in the automotive industry in India and all over the world. With the foresight and vision of their founding Managing Director S EKrishnan, they forayed into the forging business with a forge shop in Singampunari (Plant 1), Tamilnadu in year 1974 with a capacity of 780 MT per Annum.
By the mid eighties, their
By the mid eighties, their forging business expanded steadily and their capacity reached 3000 MT per annum. Their dealership business was closed in theyear 1990. In year 1991, they have launched a new state of the art forging facility at Viralimalai, Tamil Nadu with a capacity of 3000 MT per annum.
They have rechristened their self as â€œMM Forgings Limitedâ€ in year 1993. MM as Madras Motors stands to show their roots. In year 1994, they had a major capacity addition at their Viralimalai plant(Plant 2) to 12000 MT per annum with funding from their initial public offering and financial participation from major financial institutions.
They consolidated their business during the period of 1994-2002. They have secured the confidence of major automobile manufacturers around the world. They took over Gears India Limited, Chennai, India in 1999 and established it as their Plant 3. This is a machining unit. They took over this company to cater to the demands of their customers to supply forgings in machined condition.
As the demand rose steadily over the years, they started a roll shop at Padappai (Plant 4) near Chennai in year 2002 to manufacture transmission shafts. In the same year the company commenced a wind farm near Panakudi, Tamil Nadu for generating power through non conventional methods to hedge burgeoning power costs.
To consolidate their operations, they have shifted their machine shop from Plant 3 to their Padappai facility. They have added forging capacity in this facility by adding 3 press lines in the year of 2004-2005. During these years, they have also invested heavily on their machine shop by adding CNC machines, Vertical machining centers, Horizontal Machining centers, Special purpose machines thereby developing into a full fledged machining facility.
MM Forgings has the expertise in forging wide variety of components. The company is flexible to volumes and we intend to provide one stop shop for our customers with value added services.
Product range of the company includes:
MM Forgings manufactures steel forgings in raw, semi-machined and fully machined stages in various grades of Carbon, Alloy, Micro-Alloy and Stainless Steels in the weight range of 0.20 Kg to 60 Kg.The company caters to the forging requirements of almost all sections of industry.