Comstar has earmarked a capex of around Rs 6 billion for the current fiscal as
it remains positive about sustaining its growth trends in the current fiscal
and beyond, as per a top company official.
Gurugram-based firm invested about Rs. 2.19 billion in the 2020-21 fiscal. The
company is engaged in the business of manufacturing and assembly of starter
motors, controllers, alternators and starter kits forming part of automobiles
and EVs in the domestic and global market.
Vivek Vikram Singh, MD and
Group CEO, Sona Comstar said that, a large share of this capex will be spent in
the Gurgaon plant to further build the capacity to expand their electric
vehicle business. The remaining part will be spent in the differential assembly
plant as it is already running at full capacity and they need to expand this to
cater the growing demand.
also said that, the electric share of order is further split into passenger
vehicles, two-wheeler, three-wheeler and commercial vehicles and on the non-EV
side there are 69 programmes spread across 31 customers.
has 9 manufacturing and assembly facilities of which 6 are located in India and
one each in China, Mexico and the US. Also, it has eight warehouses across
India, USA, Germany and Belgium. Its newest Chakan plant, which will
manufacture both gears and differential assemblies, will be operational by the
end of this year. Earlier this month,
the auto component maker reported its first earnings as a listed entity.