Polyplastics Auto Components has opened a new facility in Chennai at an investment of Rs 20 crore.
06 Nov 2014 | 23574 Views | By Kiran Bajad
Polyplastics Auto Components has opened a new facility in Chennai at an investment of Rs 20 crore. The plant is located in the Nissan supplier park, near Oragadam. In the first phase, the plant will produce injection moulded parts including wheel rims covers for both Renault and Nissan.
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Polyplastics Auto Components has opened a new facility in Chennai at an investment of Rs 20 crore. The plant is located in the Nissan supplier park, near Oragadam. In the first phase, the plant will produce injection moulded parts including wheel rims covers for both Renault and Nissan.
Polyplastics is one of the biggest suppliers of car decorative parts including emblem monograms, grills, garnishes, wheel rim covers and wheel caps, fog lamps, door handles and ash trays, body side mouldings and moulded parts.
Kapil Gupta, joint managing director, said, “In the first phase, the plant will make wheel covers, injection moulded parts and other decorative parts for the cars for Renault and Nissan. We can expand the plant three times the current size and subsequently will add more products and customers.”
In the current year, the plant will contribute Rs 30 crore to the company’s turnover and expected to increase 20-25 percent next year. The company’s turnover in 2013-14 was Rs 280 crore.
Despite the slowdown in the auto industry, Polyplastics has managed to record double-digit growth largely due to its diversified business. It caters to a wide range of customers including the two-wheeler, passenger car, commercial vehicle and farm equipment segments. Maruti Suzuki is its single largest customer for the company with a 28 percent share of its business followed by Honda, Hero MotoCorp, Renault-Nissan and others.
‘We foresee a lot of growth in the automotive industry and are confident to come up with the second and third phases quickly at the Chennai plant and will transfer some products from Pune plant,” said Gupta.
Polypastics has four plants in Haryana, two each at Yamunanagar and Bawal, one plant in Bhiwadi, Rajasthan and one in Pune, Maharashtra.