MENON PISTONS Share price

The Company was incorporated on 25.08.1977 as a privatelimited Company in the name of Menon Pistons PrivateLimited in the state of Maharashtra. Due to the increase inturnover of the Company the Company became a deemed publiccompany on 15.06.1988 and the name of the Company waschanged to Menon Pistons Ltd on 25th June 1988 and on10/11/1994 the Company was converted into a full fledgedpublic company vide Special Resolution passed on 10thNovember 1994.The Company promoted by Mr.Ram Menon and Late Mr.ChandranMenon was incorporated in 1977 and has been manufacturingpistons for more than 13 years and has been consistentlymaking profits. The Company initially catered to the needof small diesel engine manufacturers. Subsequently thecompany started supplying the high value added pistonsrequired by the automobile industry and diesel enginesector but selected segment of heavy duty industrialpistons since the existing big piston manufacturers werenot interested in this field due to a small number ofpistons required. Later on the company added to itsproduction lines pistons required for cars LCVs/HCVs. Nowmajor customers include Kirloskar Cummins Ltd. TELCO Ltd.Bharat Earth Movers Ltd.. Maruti Udyog Ltd. Mahindra &Mahindra Ltd. Escorts Ltd. Eicher Tractors Ltd. etc.Besides aluminium alloy pistons it manufactures pistonrings and pins for various automobile and industrial engineapplications.The Company has got ISO 9002 certification and also theSHIP-TO USE Certification from Kirloskar Cummins Ltd. forwhom Menon Pistons is the sole supplier. This vouches forthe quality capability of Menon Pistons.Menon Pistons is the only Company among the top leadingpiston manufacturers in India who has developedindigenously the piston making technology and it hasdeveloped its own inherent strengths in the design andmanufacture of any kind of pistons. This enables thecompany to face any kind of problems that may arise in theprocess of piston making and to tackle it confidently. Thereputation the Company enjoys in the market and the list ofprestigious customers it caters to is an ample indicationof its technological capabilities and quality standards.The Company has over the years developed a countrywidemarket divided into four zones headed by the RegionalManagers located in the four metropolitan cities under thesupervision of Associate Vice President-Marketing based inNew Delhi.Further the Company has its representatives in each of thestates and a wide Dealer Net Work. Among its dealers arereputed business houses such as T.V. Sundaram Iyengar &Sons Sundaram Motors Chandok Auto Industries etc.The Company has got a pre-eminent position in the heavyduty segment and it has got 100% supply arrangement to suchmarket leaders as Kirloskar Cummins Ltd. and Bharat EarthMovers Ltd. Moreover it is having an increasing presencein the car piston segment. The market share in the carsegment is continuously increasing. Moreover the carsegment is slated to be the fastest growing segment in thenear future. The Company has an annual average cumulativegrowth rate of 22% during the last ten years.The Company through Menon Exports a group firm isalready in the export business for the last 8 years. Theyexport their piston assembly and other engineering goods toerstwhile U.S.S.R. U.K. Germany Greece Arabian GulfMiddle East Australia South East Asia and othercountries. They had become the pioneer suppliers forAutolada vehicle in erstwhile U.S.S.R. and supplied 4.0million pistons for LADA Cars in different types and sizes.MAIN OBJECTS OF THE COMPANY:The Main Objects of the Company as set out in theMemorandum of Association include:To design develop make manufacture produce processfabricate assemble alter repair manipulate prepare formarket trade export import purchase re-purchase sellre-sell hire let on hire exchange contract formortgage or otherwise deal in or carry on business inpistons piston rings piston pins piston parts pistonaccessories and components equipments and articles thereofand thereto.