Honda Cars India (HCIL) expects its components export to zoom up by over 62 per cent to around Rs 1,675 crores in the current fiscal as it adds new global operations of parent Honda where it supplies the manufactured parts. HCIL supplies different engine parts, forgings as well as transmissions along with others to Honda, produced at its Tapukara plant in the state Rajasthan.

According to Raman Kumar Sharma, the HCIL Senior Vice-President and Director the Company expects turnover from component exports to touch Rs 1,674.7 crores during this fiscal. The firm has seen constant growth in the business vertical over the past few years.

Honda Cars India Ltd (HCIL), which is a wholly-owned subsidiary of the Japanese auto major, had posted revenue of Rs 1,031.2 crores from exporting components during the last fiscal. Currently, the company exports components to Honda's operations in around 15 countries - Japan, Thailand, Malaysia, Indonesia, the Philippines, Mexico, Argentina, Canada, Taiwan, Vietnam, the UK, Brazil, China, Turkey and the USA.

Honda's exports of auto components from India have gradually increased over the last few years. During the period 2012-13, its component exports had a turnover of Rs 332 crores. It rose to Rs 420.6 crores in 2013-14 and to Rs 739.3 crores in 2014-15. The company also increased its global footprint during the period, starting from seven countries in 2012-13 to about 11 countries in 2014-15 which increased 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 further added.

The Tapukara plant was commissioned in the month of February of 2014. It integrates various functions like forging, casting, stamping, powertrain components production, welding, painting and engine and frame assembly.

Currently the Indian subsidiary of Honda Japan, Honda Siel made a 52 week high in today’s trading session.

Honda Siel share price is currently trading at Rs 1,670.00, up by 0.37 per cent.

Source: www.dynamiclevels.com