Accelerating
technology-led progress
Innovation is at the core of our business, as we maintain an unwavering dedication to driving progress and pushing the boundaries of what is possible. We are passionate about leveraging the latest and most cutting-edge technologies to drive our endeavours forward, whether we are developing new products or finding ways to optimise our operations for maximum efficiency.
As we have grown and evolved, we have embraced a series of transitions, moving from trading to processing to creating value-added products. We remain focussed on leveraging technology to fuel our continued growth and success. With a team of dedicated innovators and a deep commitment to excellence, we are excited to see what the future holds and to continue pushing the boundaries in our industry.
Mobility Segment – Product-Led Growth
We are a dynamic and innovative Automotive steel supply chain player, constantly pushing boundaries and adapting to changing market needs. Our journey began as a steel coil supplier, but we have evolved into a high-end component supplier by investing in product development, world-class machinery, operational efficiency and a robust distribution model.
Our pioneering spirit led us to set up India’s first merchant blanking line in Nashik, marking our entry into the steel blanking/profiling segment. Recently, we achieved a milestone of supplying 1 MT of cumulative steel products from the Nashik plant alone. With a focus on technological advancement and sensing the trend towards thinner and stronger high-strength steel, we established India’s first servo blanking line at Chakan, the western auto hub of India. This facility can process steel up to 1,200 MPa and provides a launchpad for us to diversify into multiple product lines and OEMs.
Investing in state-of-the-art Progressive Stampings with a new high strength 1,500 tonnes progressive press line at Chakan has helped us acquire new OEM customers and become a Tier-1 supplier to OEMs. Our latest plant for Automotive steel at Chennai has further increased our non-M&M customer base, with its innovative product mix and high tensile processing capability. Our machinery can process high-tensile steel, which is in demand in the market.
Our aim is to become a Tier 0.5 auto component player and to achieve this, we are investing in one of India’s first high-end tandem and transfer presses. These presses can supply skin panels and Class A/B critical components for both EVs and ICE four-wheelers. Our investment in these lines will help us gain more share of business from existing customers and gain entry into automotive OEMs. These lines can also process Aluminium, which makes us ready for the EV revolution.
We are a forward-thinking player in the industry, and as such, we are one of the first auto component players in India to develop fully automatic robotic laser welding lines with Automated Guided Vehicles (AGVs). With these welding lines, we can supply critical assemblies to Automotive OEMs for EVs and ICE.
We have invested significantly in product development to cater to the EV component industry in anticipation of the growing demand for EVs. One of our major breakthroughs in this journey is the development of EV battery enclosures. We have also expanded our capabilities beyond steel to supply EV battery enclosure components in Aluminium, which is crucial for light-weighting, a requirement for the EV industry. With tie-ups with global leaders in various Aluminium processing operations like Stamping, Forming, Welding, Deburring, Cleaning, and Inspection, we have successfully supplied prototypes for EV battery enclosures. All our upcoming stamping lines will be capable of processing Aluminium, demonstrating our commitment to fulfilling changing customer requirements.
Mobility Segment – CERO – Unique Growth Model
We established CERO as India’s first Government-authorised vehicle recycler, investing heavily in setting up our first recycling facility in Greater Noida with imported machinery. However, due to the delay in announcing and implementing the scrappage policy in India, we needed to implement an innovative growth model for CERO.
Through the indigenisation of equipment to reduce capital expenditure and leveraging the Mahindra Group synergy, we were able to expand CERO’s presence across the country, increasing its customer touchpoints from 22 locations to 41 locations in FY 2022-23. Today, we have 41 customer touchpoints and plan to expand to 75+ within the next couple of years.
With the recent announcement of the scrappage policy by the Government of India and our low-cost innovative expansion model, we anticipate exponential growth in the recycling business segment in the coming years.
Energy Segment – Power - Innovation-Led Geographical Expansion and Customer Acquisition
Our innovative product mix in the Electrical steel segment (CRGO) is helping us expand our market presence while minimising costs. We offer cut-to-size laminations and value-added products such as built-up cores and flux plates, which help us attract a wider range of customers, particularly transformer manufacturers, who can focus on their core business and save on inventory/storage costs. Our investment in high-speed lines that can cut complete transfer logs simultaneously has enabled us to enter new markets, particularly in Europe where there is high demand for our products. We have world-class machinery for electrical steel components that only a handful of companies in India possess, allowing us to process high-grade CRGO steel. As market leaders in this space with a total capacity to supply around 50,000 tonnes per year, we are well-positioned for growth. Furthermore, our latest state-of-the-art facility in Indonesia offers a wide array of products and will help us gain a stronghold in Southeast Asia.
Energy Segment - Electrical Stampings – Entering New Market Segments
Initially, we began our journey in the electrical stampings business by supplying stators and rotors for electrical motors used in the Home Appliances segment. However, our innovative thinking enabled us to leverage the same investments and machinery to enter the Electric Vehicle segment. Today, this segment is one of the most important growth drivers for MAL, with the ability to cater to the growing Home Appliances and Electric Vehicles industry.
Currently, we can supply motor cores and even completely built-up EV motors to our customers. We are continually expanding our product offerings and engaging in discussions with multiple global companies to move up the value chain in the Electric motors segment.
Our commitment to quality and value addition to our customers is demonstrated by our recent selection as a supplier of motor cores to one of the world’s largest EV motor manufacturers for domestic consumption and exports to European markets. At present, we supply motor cores and stampings to the electric three-wheelers and four-wheelers..
