Talbros Group, the component manufacturer of gaskets and heat Shields, forgings, suspension systems and modules, anti vibration components and hoses, released its Annual Report for FY 2016-17, reporting revenue of Rs 428 crores an increase of 9 percent (FY 2015-16: Rs 392 crore).

The component maker’s profit after tax for FY 2016-17, came at Rs 15.72 crore (on consolidation basis) a whooping increase of 62 percent (FY 2015-16: Rs 9.71 crore). The company’s gasket division contributed Rs 258 crore in revenues along with a commanding market share of 38 percent, while the forging business contributed Rs 71 crores.

India which is seen as the emerging global hub for automobiles and automotive components, Talbros has been successful in leveraging the opportunity and is successful in being a global supplier, that includes Europe as its one of the most prominent market (36%), Asia (25%), North America (25%), Africa (6%), among many others.

In its annual report the company is optimistic that the Indian market will grow along the lines of the thrust by government on infrastructure development, GST, Make in India. Along with the Automotive Mission Plan 2006-2016 (AMP) that has forecasted 60 million additional jobs to increase along with 3 times increase of current output by 2026.

Talbros foresees possible threats in terms of global competition mainly with China being a strong competitor for frugal engineering solutions, the slowdown in European markets that has led to slowdown in demand for auto components. The report also highlights that with the rapid pace in technology advancement, Indian auto-component markers will need to catch-up with implementation of advance technology innovations.