ANAND Group to Invest in their Manufacturing Capabilities to Cater EVs

The ANAND Group, a major player in the auto component industry, is investing Rs 600 crore in the current financial year to bolster its capabilities, with a focus on introducing advanced and emerging technologies to the Indian market, particularly for electric vehicles (EVs) and sports utility vehicles (SUVs). This investment is part of a larger Rs 3600 crore plan that spans five years, set to conclude by FY25, aimed at strengthening the Group's development and manufacturing of advanced auto parts.

Gabriel India, the Group’s listed arm, holds a 35% market share in the rapidly growing SUV segment, in comparison to its 23% overall share in the passenger vehicle (PV) market. According to Mahendra Goyal, CEO of ANAND Group, most of their companies are now supplying components tailored for SUVs. These include high-end electronic power steering systems and electronic stability control systems for braking, supplied by Mando ANAND India, as well as shock absorbers for SUVs manufactured by Gabriel.

Additionally, Dana Anand has witnessed increased sales of drive shafts and axles, both essential for SUVs, while MAHLE ANAND Thermal Systems is providing e-compressors and PTC heaters designed specifically for the new generation of e-SUVs and other electric platforms.

As a result of these developments, the Group has seen a notable rise in revenues from the SUV sector, which now contributes 35% to its total revenues, up from 20% five years ago. Furthermore, 6% of ANAND’s revenues are currently generated from its electric vehicle parts manufacturing, which caters to both electric four-wheelers and two-wheelers.