Bawal, City in India

ICRA has reaffirmed credit ratings for the bank facilities availed by JTEKT India Ltd (JIL), the largest manufacturer of steering systems for passenger car and utility vehicle market in the country.The rating reaffirmation continues to factor in JIL's position as a leading supplier of steering systems to passenger vehicle original equipment manufacturers in India, strong business and technical support from its parent company JTEKT Corporation Japan as well as its well diversified product offerings.ICRA said JIL enjoys a leading position in the steering system segment in India with strong presence in manual steering gears, electronic power steering and hydraulic power steering systems.It continues to maintain healthy share of business with some of the leading passenger vehicle original equipment manufacturers including Maruti Suzuki India, Mahindra & Mahindra, Honda Cars India and Toyota Kirloskar Motor which further strengthens its business profile.The ratings also continue to factor in the strong business and technical support from its parent company JTEKT Corporation. JTEKT supports JIL with its marketing efforts, new customer acquisition and technical support.Being part of the Toyota Group, JIL also maintains almost 100 per cent share of business with Toyota Kirloskar Motor in India.Further, the presence of a Japanese parent has also helped the company acquire healthy share of business from subsidiaries of other Japanese original equipment manufacturers in India.In addition to the favourable business linkages, the Japanese parentage has also helped the company in tying up unsecured lines of credit from Japanese banks on JTEKT's corporate guarantee at competitive interest rates.The company has operations across the country through its eight plants -- two in Gurugram, three in Dharuhera, one in Bawal, one in Chennai and one in Sanand.( With inputs from ANI )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

BawalFOLLOW

Bawal, Latest News

Politics :Gadkari lays foundation for infra projects worth Rs 1,407cr

Gurugram, March 9 Union Minister for Road Transport and National Highways, Nitin Gadkari laid the foundation stone of ... ...

Business :NCLT approves JSW Steel arm's bid for Asian Colour Coated Ispat

New Delhi, Oct 19 The National Company Law Tribunal (NCLT) has approved the resolution plan of JSW Steel Coated ... ...

Business :Carrier Midea India appoints Sanjay Mahajan as Managing Director

Carrier Midea India (CMI), a joint venture between airconditioning major Carrier and Midea Group, has appointed Sanjay Mahajan as the new Managing Director. ...

Business :ICRA reaffirms credit ratings for bank facilities availed by JTEKT India

ICRA has reaffirmed credit ratings for the bank facilities availed by JTEKT India Ltd (JIL), the largest manufacturer of steering systems for passenger car and utility vehicle market in the country. ...