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BSE Code : | NSE Symbol : | ISIN:| SECTOR: - |

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Volume 280564

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Key Stats

MARKET CAP (RS CR) 1.58
P/E 0
BOOK VALUE (RS) 40.7518297
DIV (%) 0
MARKET LOT 1
EPS (TTM) 0
PRICE/BOOK 0.0257657142692663
DIV YIELD.(%) 0
FACE VALUE (RS) 10
DELIVERABLES (%)
4

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Peers Comparsion

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Autocomps India Ltd 522056
Autoline Industries Ltd 532797 AUTOIND
Autolite (India) Ltd 500029 AUTOLITIND
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Automotive Axles Ltd 505010 AUTOAXLES
Automotive Stampings & Assemblies Ltd 520119 ASAL
Autopal Industries Ltd 517286 AUTOPALIND
Axles India Ltd 40001
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Bharat Seats Ltd 523229
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Bosch Ltd 500530 BOSCHLTD
Brite Automotive & Plastics Ltd (Merged) 507782 BRITEAUTO
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Clutch Auto Ltd 505052 CLUTCHAUTO
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Design Auto Systems Ltd 520125
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Endurance Technologies Ltd 540153 ENDURANCE
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Enkei Wheels India Ltd 533477
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Ultra Wiring Connectivity Systems Ltd 535124 UWCSL
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Z F Steering Gear (India) Ltd 505163 ZFSTEERING

Share Holding

Category No. of shares Percentage
Total Foreign 283854 1.89
Total Institutions 0 0.00
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 4134862 27.50
Total Promoters 1158199 7.70
Total Public & others 9456716 62.91
Total 15033631 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About K E W Industries Ltd

K E W Industries Ltd is one of the established manufacturers of Automobile Components. The company is engaged in the automobile components and railways components. They are also producing Hi-Tech & sophisticated stores for country's defence production. Their products include shell body, auto components and other shell items. The company has well established their name for product range in the domestic and export market. The company's main product lines include automotive components, defense and railways. Thecompany manufactures components of alloys steels, spheroidal graphite (SG) iron and cast iron for both domestic and export markets. Their client portfolio includes Ashok Leyland Ltd, Tata Motors, Punjab Tractors Ltd, Indian Ordinance Factories under Ministry of Defence of India, Rail Coach Factory and Kapurthala. K E W Industries Ltd was incorporated on September 23, 1996. Originally, the company was formed as a proprietary concern in 1963 under the name and style of 'Krishna Engineering Works'. With effect from April 1, 1995, the proprietary concern was converted into a partnership concern with six other partners. The company was converted into a limited Company with effect from September 23, 1996 and thus formally incorporated. Initially, in the year 1963, the proprietary concern started their operations as manufacturer of Diesel Engine parts and components. In the year 1972, they launched Mono Block Pumps for agriculture and general applications. In the year 1980, their engineering facilities got recognition from Ministry of Defence, Government of India. In the year 1990, they diversified into manufacturing of tractor parts. In the year 1996, the company commenced development work in large size bombshell bodies. In the year 1998, they set up unit at Focal point Jalandhar. In the year 1999, they were chosen as the first private supplier for manufacture and supply of 155 mm bomb shells for Bofors Gun. In the year 2001, the company expanded their automotive component manufacturing unit. In the year 2003, they became OEM supplier to TATA Motors Ltd and Ashok Leyland Ltd. In the year 2004, they commenced exports of automotive components. In May 2010, the company received orders from Ministry of Defence of more than Rs 80 crore and another tender enquiry of Rs 50 crore are in pipeline. Also, the company got a development order from Ministry of Defence for supply of Track Assembly for Tanks The company decided to expand their capacity in order to execute the above orders. The cost of expansion plan will be met by way of issue of right equity shares.

K E W Industries Ltd Chairman Speech

K E W Industries Ltd Company History

K E W Industries Ltd is one of the established manufacturers of Automobile Components. The company is engaged in the automobile components and railways components. They are also producing Hi-Tech & sophisticated stores for country's defence production. Their products include shell body, auto components and other shell items. The company has well established their name for product range in the domestic and export market. The company's main product lines include automotive components, defense and railways. Thecompany manufactures components of alloys steels, spheroidal graphite (SG) iron and cast iron for both domestic and export markets. Their client portfolio includes Ashok Leyland Ltd, Tata Motors, Punjab Tractors Ltd, Indian Ordinance Factories under Ministry of Defence of India, Rail Coach Factory and Kapurthala. K E W Industries Ltd was incorporated on September 23, 1996. Originally, the company was formed as a proprietary concern in 1963 under the name and style of 'Krishna Engineering Works'. With effect from April 1, 1995, the proprietary concern was converted into a partnership concern with six other partners. The company was converted into a limited Company with effect from September 23, 1996 and thus formally incorporated. Initially, in the year 1963, the proprietary concern started their operations as manufacturer of Diesel Engine parts and components. In the year 1972, they launched Mono Block Pumps for agriculture and general applications. In the year 1980, their engineering facilities got recognition from Ministry of Defence, Government of India. In the year 1990, they diversified into manufacturing of tractor parts. In the year 1996, the company commenced development work in large size bombshell bodies. In the year 1998, they set up unit at Focal point Jalandhar. In the year 1999, they were chosen as the first private supplier for manufacture and supply of 155 mm bomb shells for Bofors Gun. In the year 2001, the company expanded their automotive component manufacturing unit. In the year 2003, they became OEM supplier to TATA Motors Ltd and Ashok Leyland Ltd. In the year 2004, they commenced exports of automotive components. In May 2010, the company received orders from Ministry of Defence of more than Rs 80 crore and another tender enquiry of Rs 50 crore are in pipeline. Also, the company got a development order from Ministry of Defence for supply of Track Assembly for Tanks The company decided to expand their capacity in order to execute the above orders. The cost of expansion plan will be met by way of issue of right equity shares.

K E W Industries Ltd Directors Reports

DIRECTORS

Your Directors have pleasure in presenting the Seventeenth Annual Report together with the Audited Accounts of the Company for the year ended 31st March, 2013.

FINANCIAL & OPERATIONAL REVIEW

The year under review passed through the recessionary period and the overall industry could not perform well. Your Company also could not deliver the expected performance in the year under report due to recession prevailed in the economy especially in the auto segment. The OEM's have not off taken their material as per their delivery schedule. The Sales of the company have declined from Rs. 5082.44 Lacs to Rs. 3586.87 Lacs as compared to the previous year which has further affected the profitability as well as financial parameters. Further pleased to mention that the company has been able to procure good orders from Ministry of Defence for the current financial year and your directors are quite confident to give you better performance in the current financial year.

Your directors are concentrating on the other sectors also to explore the business opportunities.

(In Rs. Lacs)

Particulars Year Ended 31.03.2013 Year Ended 31.03.2012
Total Income 3586.87 5082.44
Profit before Depreciation 738.69 806.33
& Interest
Depreciation 357.57 346.53
Interest 363.96 423.24
Profit before tax 17.16 36.56
Profit after tax 13.81 25.32

DIVIDEND

As is evident from the financial results, the company needs to conserve its resources for future working. Hence, your directors do not recommend any dividend on equity shares for the year ended 31st March, 2013.

DIRECTORS

Group Captain M.K.Labroo (Retd.), Director of the Company retires by rotation at the ensuing Annual General Meeting. Meanwhile, he does not offer himself for re-appointment.

The Company has received confirmation from all the Directors that none of the directors is disqualified for being appointed as director, pursuant to the provisions of section 274(1) (g) of the companies Act 1956.

Further, there has been a change in the Board of Directors during the year under review. There is an appointment of additional director named Sh. Varun Bahri on 8th February, 2013 and he holds office as such upto the date of Annual General Meeting. The approval of Members is required for his appointment as a Director of the Company.

Therefore, the Board recommends the appointment of Sh. Varun Bahri as Director of the Company and places this resolution before the members for their approval.

PUBLIC DEPOSITS

The Company has not accepted any deposits during the year under review.

AUDITORS

The auditors of the Company, M/s Brij Aggarwal & Associates, Chartered Accountants, Jalandhar, retire at the conclusion of this Annual General Meeting and are eligible for reappointment. They have furnished a certificate to the effect that the re-appointment if made shall be in accordance with Section 224(1 B) of the Companies Act, 1956.

The Audit Committee has recommended their re-appointment.

AUDITOR'S REPORT

As regards Auditor's observation, the relevant notes on the accounts are self- explanatory and therefore do not call for any further comments.

LISTING OF SHARES

The Company's shares are presently listed on the Bombay Stock Exchange Limited, Mumbai (BSE).

ORPORATE GOVERNANCE

In terms of Clause 49 of the Listing Agreement with the Stock Exchanges, a Corporate Governance Report is made part of this Annual Report. In compliance with Section 292A of the Companies Act, 1956 and with the Listing Agreement, an Audit Committee consisting of three independent directors has been constituted. The Company has also a Shareholder's Grievance Committee consisting of three independent directors.

A Certificate from Statutory Auditors of the Company regarding compliance of the conditions stipulated for Corporate Governance under Clause 49 of the Listing Agreement is attached to this report.

IRECTORS RESPONSIBILTY STATEMENT

Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956 the Directors confirm:

i. That in preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures.

ii. That the Board of Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31s1 March, 2013 and other Statements of Accounts of the Company for the year ended 31st March, 2013.

iii. That the Board of Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 in safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. That the Directors have prepared the annual accounts on going concern basis.

Regarding Auditor's qualification in respect of default in repayment of dues to Punjab Financial Corporation, correspndence are being exchanged with the PFC to settle the dues under OTS. We inform that PFC has charged higher rate of interest during the past years. Now as per the OTS policy of the Corporation, the Company expects to get waiver/benefit of higher interest already paid. The Company is following up with PFC in this regard.

CONSERVATION OF ENERGY. TECHNO-LOGY ABSORPTION. FOREIGN EXCHANGE EARNING AND OUTGO

Information as per Section 217(1) (e), read with Companies (Disclosure of Particulars in the report of Board of Directors) Rules, 1988 have been given, as it is applicable to the Company. The foreign exchange earnings and outgo during the year under review is NIL.

PARTICULARS OF EMPLOYEES U/S 217(2A1 OF THE COMPANIES ACT. 1956

There was no employee who falls under Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) (Amendment) Rules, 2002.

PERSONNEL

The Management-Employees relations remained very cordial throughout the year. Your Directors wish to place on record their appreciation of sincere and devoted services rendered by all the workers and staff at all levels.

ACKNOWLEDGEMENTS

Your Directors acknowledge with gratitude, the continuing co-operation and assistance rendered by Financial Institutions, Banks, Government Agencies, Suppliers and other organization in the working of the Company.

BY ORDER OF THE BOARD
DATED: 27.05.2013 (MUKESH JUNEJA)
PLACE: JALANDHAR (Chairman-Cum-
Managing Director)
   

K E W Industries Ltd Company Background

Mukesh Juneja
Incorporation Year1996
Registered OfficeB-3 Focal Point,
Jalandhar,Punjab-144001
Telephone91-181-2455171-2225715,Managing Director
Fax91-181-2225715
Company SecretaryMegha Gandhi
AuditorBrij Aggarwal & Associates
Face Value10
Market Lot1
ListingNot Listed,
RegistrarKarvy Computershare Pvt Ltd
Karvy House 46,Road No 4 Street No1,Banjara Hills,Hyderabad - 500034

K E W Industries Ltd Company Management

Director NameDirector DesignationYear
Mukesh Juneja Managing Director 2013
M K Labroo Director 2013
Sushil Kumar Sharma Director 2013
Megha Gandhi Company Secretary 2013
Harbhajan Singh Director 2013
Varun Bahri Additional Director 2013

K E W Industries Ltd Listing Information

K E W Industries Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sales NA 00035.56
Job Work NA 0000
Shell Body Pcs00724680
Steel Items-Others MT 004210.830
Auto components Pcs00265850

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