HARITHA SEATING SYSTEMS -BUY

Almost all well managed companies from auto

ancillary space are reaping the benefits of

the booming auto sales .Haritha Seating Systems

is such a company which is based in Chennai.

This company belongs to the well known TVS Group

and promoted by Sundaram Clayton Ltd. Harita makes

seats for two-wheelers, commercial vehicles, tractors

and buses.  It is also in the field of poly urethane

products businesses to different segments of the

auto industry . Harita Seating Systems has manufacturing

facilities in Hosur, Ranjangaon near Pune and at Nalagarh

in Himachal Pradesh. It was earlier known as Haritha

Grammer and had a joint venture with Grammer AG of

Germany till 2002.In 2002 company pulls out of joint

venture and its name changed to Haritha Seating Systems.

Company has another joint venture with German based

Fehrer for making two wheeler seats ,which is known as

Harita Fehrer Ltd.Company’s client list consists of auto

majors like Tata Motors, Ashok Leyland, Mahindra & Mahindra,

Tafe, John Deere, New Holland, TMTL, Escorts, Caterpillar,

BEML, Telcon, L & T Komatsu and  Volvo.Company also suppliers

seats to body builders Jaico, SM Kannappa, ACGL, Amar Coaches,

IRIZAR TVS, Veera Vahana, HNS Coaches, Damodar coach,

Bharat Coach etc. Last year company posted a turnover

of Rs.223 Cr and a net loss of Rs.71 lakhs . It is notable

that company posted decent result in last qtr of previous

financial year with a profit of 2.39 Cr. Belongs to TVS

group which has good pedigree in auto ancillary space

Harita is expected to post even better numbers in the

current year.Risk takers can BUY at CMP of Rs.99/-