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Harita Seating Systems Ltd share price today (on 3 December 2023).

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BSE: 590043 | NSE: HARITASEAT | ISIN: INE939D01015 Market Cap: [Rs.Cr.] 80 | Face Value: [Rs.] 10 Industry: Auto Ancillaries

The company was incorporated in 1996, it belongs to the T V S Iyengar Group. It manufactures seats for cars, tractors, deluxe seat cushions for two wheelers and four wheelers . The plants are located at Dharmapuri in Tamilnadu and Pune in Maharashtra.
Incorporated on 21 Feb.'86, Harita Grammer (HGL) is a joint venture between the Harita group of the TVS family and Grammer Sitzsystene, Germany. It manufactures automobile seats for cars, jeeps and trucks and is an Original Equipment Supplier to TELCO for its Estate and Sierra models. In the tractor segment, it supplies to tractors and farm equipments manufacturers like Escorts, Escorts Tractors and HMT. Apart from this, bus body builders also source their requirements of seats from HGL. The company set up an assembly unit at Pune. This will ensure timely supplies of car seats to TELCO. This plant manufactures only foam cushions with reclining mechanism being supplied from the main plant.
This unit is expected to go on stream in 1996. In the year 1996-97, As per the scheme of Amalgamation all assets and liabilities and reserves of transferor companies viz. erstwhile Harita-Grammer Ltd and Roloforms Polymer Ltd, transferred and vested with effect from 24th April 1996. A new variety of metro seat for the bus passenger and also driver seats for commercial vehical was developed during 2000-2001.One of its future plan of action is likely to introduce cost effective bus passenger seat variants and developing new models of two-wheeler seats. Due to the termination of Joint Venture agreement with Grammer AG,the name of the company was changed to Harita Seating Systems Ltd with prior approval from the shareholders and the Central Government. The effective date was September 27,2002.
According to the Consolidated - Audited financial statement for the Year of 2012, total net operating revenues increased with 30.14%, from INR 441.55 tens of millions to INR 574.64 tens of millions. Operating result increased from INR 16.35 tens of millions to INR 45.3 tens of millions which means 177.06% change. The results of the period reached INR 20.76 tens of millions at the end of the period against INR -2.9 tens of millions last year. Return on equity (Net income/Total equity) went from -5.98% to 33.83%, the Return On Asset (Net income / Total Asset) went from -0.92% to 7.72% and the Net Profit Margin (Net Income/Net Sales) went from -0.66% to 3.61% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 390.32% compared to 555.64% of last year.
Harita is a part of $5 billion TVS group. Harita commenced operations in 1988. Since it's inception, Harita has various milestones to it's credit in all the segments where it operates.
Harita has four manufacturing locations in India :
. Hosur, Tamilnadu
. Ranjangaon, Maharashtra
. Nalagarh, Himachal Pradesh
. Jamshedpur, Jharkhand
Harita has a subsidiary company, Harita Fehrer Limited which is a joint venture between Harita Seating Systems Limited , and F.S Fehrer Automotive GmbH , one of the market leaders in automotive foam business in Germany, Europe.

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