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22-Mar-2012 Business Profile
Swaraj Mazda was promoted in the year 1984 in technical and financial collaboration with Mazda Motor Corporation and Sumitomo Corporation, Japan. The registered office of the company is situated at Punjab, India.
The company was promoted for the manufacture of light commercial vehicles (LCVs). Swaraj Mazda represents two powerful brands, such as, Swaraj, which symbolizes best Indian technology and engineering and Mazda, which symbolizes R&D and innovation edge on global scale.
At present, the company manufactures vehicles for goods and passenger applications. Swaraj Mazda Vehicle population today stands over 100,000.
The company has inked a technical assistance agreement with Isuzu Motors, Japan on Jun. 30, 2006. The agreement is for the expansion of vehicle production capacity, new assembly line for Isuzu vehicles and also setting up of in-house facilities for the manufacture of luxury buses based on existing Mazda chassis as also on Isuzu chassis for which the company has already procured relevant designs from overseas parties.
Swaraj Mazda has recently concluded a technical assistance agreement with Isuzu Motors, Japan. Sumitomo Corporation, Japan, having equity holding of 41% in the company has played a key role in facilitating the successful conclusion of technical alliance between the company and Isuzu Motors.
The company disclosed rise of 21.96% in standalone net profit on y-o-y basis to Rs 118.30 million, while total income climbed 11.35% y-o-y basis to Rs 2.46 billion for the quarter ended December 2011.
Firstcall has recommended `Buy` on Swaraj Mazda with a price target of Rs 380 as against the current market price (CMP) of Rs 315 in its report dated Jun. 10, 2010. The broking house gave the following investment rationale:
With reference to the news item appearing in a leading financial daily titled `Tatas eye Actis pie in Swaraj`, Swaraj Mazda has clarified that the company is totally unaware of the contents of the news item.