Issue No. 21 7, Dated 21 st February , 2017 · • Basic Metallurgy of Grey & SG Iron • Basic...

Foundry Informatics Centre, 67 TughlakabaTel: +91 11 29960601, Email: fic@indianfo

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THE INSTITUTE OF INDIAN FOUNDRYMENTHE INSTITUTE OF INDIAN FOUNDRYMENTHE INSTITUTE OF INDIAN FOUNDRYMENTHE INSTITUTE OF INDIAN FOUNDRYMEN

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abad Institutional Area, New Delhi – 110062 foundry.org, Web: http://foundryinfo-india.org/


Issue No. 217, Dated 21st February, 2017

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Foundry Informatics Centre, 67 Tughlakabad Institutional Area, New Delhi – 110062 Tel: +91 11 29960601, Email: [email protected], Web: http://foundryinfo-india.org/

IIF Chennai chapter is organizing "Aluminium Conclave" during 27th to 29th April 2017

With its vision of “Dissemination of Knowledge”, constantly pursued by conducting various technical programs, seminars, competitions and works visit, IIF Chennai Chapter is organizing the VII Aluminum Conclave with the Theme “Green Metal for the Future” from 27th to 29th April 2017 at Chennai. This event takes place in multiple locations of Chennai, for three consecutive days. Eminent speakers, technologists, industrial leaders, big players from equipment & service providers of the industry are converging on a common platform to give their insight, share their knowledge & experience, to take the industry into the future. For details & registration, please contact at: Email: [email protected] Tel: +91 9840211245, 9840372522 044 42187119, 26220196 IIF Vadodara Chapter organizing Technical Workshop on “Methoding & Pattern Making" on 22nd Feb., 2017 The IIF Vadodara Chapter is organizing One-Day Technical Workshop on “Methoding & Pattern Making” as per details given below:- Date: 22nd February, 2017 (Wednesday) Time: 10.00 am to 5.00 pm Venue: Hotel Surya Palace, Sayjigunj, Vadodara Registration Fee: Rs. 300/- (for IIF Members) & Rs. 700/- (for Non-IIF Members) The workshop is aimed at upgrading the knowledge and skills of Methoding & Pattern Making for CI, SGI and steel castings by studying the drawing of the castings. The programme will give an overview of deciding on Gating, Running and Feeding system design and basic guidelines for deciding on the pattern making process with examples and case studies from global foundries based on common castings produced by the local industry. Limited Seats, Registration of First Come First Serve Basis; For registrations, please contact : Mr. Prayut Bhamawat – Mob: +91 9727790911 Email: [email protected]

IIF In-plant Training Programme "Yogyata Vikas" Salient features of the training programme launched by The Institute of Indian Foundrymen (IIF) are :- 1. Training to be given on 10 modules as listed below • Basic Metallurgy of Grey & SG Iron • Basic Metallurgy of Steel Castings • Casting Defects in Grey Iron, SG Iron and

their Remedies • Casting Defects in Steel Castings and their

Remedies • No-bake Resin, CO2 Sand System and

Coatings • Melting Grey Iron, SG Iron & Steel in Cupola

and Induction Furnace • Sand Quality & Testing • Cupola and its Operation • Mould-making Processes • Pattern-making and Methoding of Castings 2. In-plant training to foundry workers/ operators all over India by experienced trainers, with audio-visual training material prepared by IIF 3. Training to be conducted in local languages 4. Training Options & FEE Option I: Basic Training - The trainer shall carry out classroom training based on the module selected by the foundry. Fee For Members: Rs 10,000 per day of training plus service tax For Non-Members – Rs. 15,000 per day of training plus service tax Option II: Customised Training - The trainer shall visit your foundry a day prior to the scheduled date of training, discuss and understand your requirements and customize the training module to suit your needs. Fee For Members: Rs 20,000 per 2 days of training plus service tax For Non-Members – Rs. 30,000 per 2 days of training plus service tax Foundries are encouraged to come forward and take maximum advantage of this initiative of IIF.

For details you may kindly contact Mr. V. Ravindran, National Coordinator for IIF- In Plant Training Programme at Mob:- +91 7358384578.


Approx Major Raw Material Prices

News Headlines..

• Indian ferrosilicon prices up • India Nickel Scrap prices climb; Nickel

Futures up 1.54 percent • India Brass, Copper Scrap prices stay flat;

Copper Futures finish down • India bulk alloys: Manganese alloy prices

stabilise • India noble alloys: FeV prices rise • Pig iron offers increase, Italy fails to follow • Chinese magnesium ingot prices stop falling • European ferromolybdenum prices rise • European ferrotitanium market continues to

be buoyant • European ferrovanadium prices start to dip

In the News..

TReDS can boost MSMEs' liquidity, with some tweaks The TReDS proposed by the RBI is expected to provide much-needed liquidity to MSMEs The Trade Receivables Discounting System (TReDS) proposed by the RBI is expected to provide much-needed liquidity to micro, small and medium enterprises (MSMEs). Lack of adequate working capital has been a major issue for MSMEs. Institutional lenders are typically obsessed with immovable collateral and credit history, which these units lack. On the other hand, the large and medium-sized corporates that these units supply tend to delay payments, often inordinately. CRISIL’s analysis of about 10,000 MSMEs shows their average trade receivable position at about 75 days, which impedes their working capital

cycle and crimps growth. One reason for this is that factoring hasn’t taken off in India, given inefficient recovery mechanism, fraud and excessive documentation involved. TReDS aims to provide instant liquidity through a transparent and competitive bidding system, initially to MSMEs supplying to large corporates. These MSMEs can discount their supply bills on TReDS with no recourse to them, and large corporates will have to make payments to the lenders who discount the MSMEs’ purchase order bill. This way, the buyer’s credibility will enable MSMEs to obtain cost-efficient and collateral-free finance. The assumption, of course, is that large corporate buyers would be comfortable on ‘without recourse’, which is an untested hypothesis. RBI has granted in-principle sanction for TReDS to Axis Bank, Mynd Solutions and the Receivables Exchange of India Limited, expected to be launched soon. CRISIL believes TReDS can take off, given a strong framework of debt-recovery mechanism, credit insurance and enablement of partial recourse or full recourse models. The current TReDS design should be enhanced to include supply-side financing, which can happen with third-party credit-assessment of MSMEs that gives lenders some comfort for discounting. Rane Brake Linings Q3 net up 26% at Rs 10 cr Auto-component manufacturer Rane Brake Linings, part of the Rane Group, has recorded a 26.3 per cent rise in net profit for the third quarter ending December 31, 2016 to Rs 9.98 crore. The Chennai-based company had registered net profits at Rs 7.90 crore in the corresponding period of previous year. For the half-year ending September 30, 2016 net profits surged to Rs 30.30 crore from Rs 16.62 crore registered during the year ago period. Total income from operations for the Oct-December 31 2016 period stood at Rs 119.50 crore as against Rs 111.67 crore registered during the same period of last year. For the April-September 30, 2016 period, total income from operations grew to Rs 354.02 crore from Rs 324.63 crore registered during the corresponding period of last fiscal.

ITEMS

Price

10.02.2017

Rs./Kg (Incl.

Excise)

Price

17.02.2017

Rs./Kg (Incl.

Excise)

Pig Iron (Mumbai) 31.6 31.6 Melting Steel Scrap 26.5 26.5 CRCA Scrap 26.4 26.7 Copper Ingot 415 400 Aluminum Ingot 144 144


"The third quarter was an eventful quarter, given the macro economic issues facing the industry. Despite headwinds, Rane Brake

Linings clocked a steady performance on the

back of robust demand from Indian OEMs in Passenger vehicle segment coupled with our ongoing cost reduction initiatives", Rane Group Chairman L Ganesh said. Stating that there was strong demand from domestic OEM customers in passenger and commercial vehicle segment, the company said the aftermarket business was affected due to demonetisation. Disc pads maintained its growth momentum and the overseas market witnessed a flat performance, the release said. An interim dividend of Rs six per equity share has been declared by the Board of Directors on the paid-up capital of 79,14,980 of Rs 10 each. The record date for payment of interim dividend is February two, 2017. Honda Buys 380 acres for its 3rd plant in Gujarat for Rs 1,000 crore Honda Motor spent an estimated 1,000 crore to acquire 380 acres in Gujarat to set up a manufacturing unit, as the Japanese automaker bets on the long-term potential of the Indian market despite its factories now producing fewer cars than what they are designed for. The new site is at Vithalapur, about 80 km north-west of Ahmedabad, where Honda last year opened a facility for two-wheelers. Honda Cars India bought land from individuals and completed transactions this month. The land acquisition comes as a surprise, as the company's current facilities - at Greater Noida and Tapukura, Rajasthan - utilise just 60-70% of their combined production capacity of 2,40,000 vehicles. But with challenges of land acquisition and rising relty prices, it wants to derisk itself from future volatilities, people in the know said. "We have finished the land acquisition recently," Honda Cars India chief executive Yoichiro Ueno told ET. "Honda is confident of long-term potential growth of India and is

committed to the region. At GDP growth of 7% per annum, it is among the fastest growing markets and Honda would want to participate in its future growth." Honda expanded capacity in India to more than 2,00,000 units from 60,000 in a short span of time. Part of it was in diesel vehicles, seen as a must-have until a couple of years ago for automakers to succeed here. But customer preference is shifting back to petrol as the price difference has narrowed. Automakers like Honda are sitting on underutilised diesel capacities as a result. Honda Cars India's sales fell 20% in the April-January period of fiscal 2017 to 1.24 lakh units, even as the market grew 9%. There was an overstocking of 24,000 vehicles at its showrooms and correcting of that during the period resulted in the volume drop, Honda said. Having the land ready will allow the company to respond quickly to improvement in demand as and when required. "The per capita in India is set to cross $4,000 in coming years and when that happens, it brings more people in an income bracket where they can afford to buy a car and Honda wants to be ready when that happens," Ueno said. The company is working to reinforce premium image, he said. The relaunch of the Accord sedan is a first step in that direction and it plans to bring back the Civic in the next few years. The launch of the new City, the company hopes, will help it regain the leadership position in the mid-size sedan segment - it already has bookings for 7,500 units of the City. It will shortly enter the fast-growing crossover and SUV space with the WRV. With the focus shifting from high-volume-low-margin cars to high-margin-modest-volume products, the company, though, is unlikely to meet a goal it set in 2015, of selling 3,00,000 lakh cars in India in 2017. Ueno said he will be happy if it can utilise the existing capacity of 2.40 lakh units in the next two to three years.


Polaris reviews its JV with Eicher, may look at local assembly for ATVs and Indian motorcycles US based all-terrain vehicle specialist Polaris, which entered into a joint venture with Eicher Motors for a personal vehicle Multix, is relooking at its India strategy with the venture failing to take off as planned. Pankaj Dubey, who currently heads the Polaris all-terrain vehicle business and Indian motorcycles brand, has been given the additional responsibility to lead the joint venture and put it back on track. Multix, a multi-utility vehicle, is a unique offering from the Eicher Polaris JV aimed at small traders and farmers who can use this vehicle for both personal and business purposes. “The board members at both Eicher and Polaris are surprised at the business results from the JV so far. The concept holds a great potential -- while the business has not got off to the start expected, we have re-looked at our internal expectations,” Dubey, CEO of Eicher Polaris, told ET. Multix as a product, lacked visibility and since the concept was new, it needed to be marketed aggressively, according to people in the know. Amongst the series of measures planned to revive the initiative, Eicher Polaris has upgraded the product by packing more power with the BS IV offering. For bigger visibility, the company will be more than doubling the network to 150 within just six months. It is also exploring the possibility of assembling its ATV at the JV’s Jaipur facility for a quicker breakeven. The company has a manufacturing facility at Jaipur in Rajasthan with an annual capacity of 60,000 units and has so far invested Rs 350 crore. It has re-engaged consultant Francis Xavier Kanoi Institute to identify areas where the strategy didn’t work out as planned, and has appointed third party marketing experts to engage with prospective buyers on ground zero, starting with Karnataka, and eventually expand to other states. Under the new gameplan, Eicher Polaris has set a clear breakeven plan for the venture by 2020,

which is at least 18-24 months later than the earlier plan. For Polaris, the ATV business is already growing and the company has started getting more traction from the army. With the company pitching for several hundred vehicle orders from the army, and with the Indian base taking responsibility of surrounding countries, the possibility of local assembly has been strongly considered. On the Indian motorcycle front, the company is likely to scout for a land for the factory later in the year and is likely to start assembling motorcycles a few years from now. Sonalika registers 8% growth in sales in January Home-grown tractor manufacturer Sonalika International Tractors Ltd registers a growth of 8 percent growth in sales in the first month of 2017. The company sold 5074 units in January compared to 4699 units in the same month last year. The tractor major has sold 4172 units in the domestic market and 902 units in the international markets during January 2017 as compared to 3864 & 826 units in January 2016. The company has strengthened its domestic presence by growing more than 17% and has also grown by 21% by shipping 10,084 tractors from April’16 to January’17. Raman Mittal, Executive Director - Sonalika ITL said, “The brand initiatives, strategies and after sale services have helped Sonalika ITL earn a well-deserved success in this month’s sales. Our month on month growth is a testimony to our continued efforts to provide the best available experience to our customers through products and services with a holistic approach. Our commitment to providing products that are specific to the farmer's needs has allowed us to gain a lead over our competitors.” He also added; “We are proud of our achievements throughout this year, this also strengthens the bond among our stakeholders. The Union Budget’17 this time is a pro-farmer one, focused on the overall development of the agriculture industry, brightened our hopes of maintaining a steady growth.”


Sonalika ITL is marketing its products in over 80 countries, including 24 European countries, its products range from 20HP to 120HP, which are manufactured in India. Sonalika ITL has established one of the world’s largest integrated tractor manufacturing plants equipped with world-class technologies in Hoshiarpur, Punjab. The new plant will provide a complete agricultural solution to cater to the need of the global and domestic markets, matching international standards in quality. Mahindra aims to double market share in CV; to invest Rs 700 cr in ICV Mahindra Trucks and Buses aims to double its market share in heavy commercial vehicle segment in India in the next two years with introduction of new intermediary commercial vehicle range and new set of small commercial vehicles, informed Nalin Mehta, MD & CEO at Mahindra Bus & Trucks in a telephonic interview with ETAuto. The company will invest about Rs 700 crore in the new intermediary segment products. Currently, Mahindra has about 3.5 percent market share at 500-600 units of HCVs sold every month. It sells similar number of LCVs every month. The company is soon going to enter intermediary - 8 tonne to 16 tonne vehicle category where Volvo Eicher Commercial Vehicles has been quite successful. Mahindra will also create a new segment by launching vehicles in 3.5 tonne to 7.5 tonne category. Talking about the overall market condition in short term, Nalin Mehta said that in the first quarter of the next financial year production and sale of commercial vehicle may go down as people will go for a pre-buying in the fourth quarter of this fiscal due to upcoming BS-IV norm. India is going to adopt BS-IV norm across country from April 1, 2017. "In general also fourth quarter always sees pressure in terms of sales," Nalin Mehta said. While admitting that the forthcoming GST and Scrappage policy will change the market scenario, however, he refrained from commenting on it whether it will result in creating demand or not.

Mahindra currently sells about 12,000 units of commercial vehicles annually in India through its 80 dealerships. Mahindra has opened 7 parts plaza and aims to open 40 such centres in the coming few years, while it already has 120 authorised service stations.

International News..

Dynacast Buying Signicast, Expanding into Investment Casting Specialty diecaster Dynacast International has agreed to acquire Signicast LLC in a “definitive share purchase agreement,” the terms of which have not been released. According to a statement by Charlotte-based Dynacast, the transaction will close in March, following regulatory approvals and customary closing conditions. The significance of the deal is that it combines multiples diescasting and other capabilities with an organization that describes itself as “the largest commercial investment casting manufacturer in the world.” In addition to diecasting for aluminum, magnesium, and zinc products, manufactured by hot- and cold-chamber diecasting processes, Dynacast has metal-injection molding capability. Signicast produces investment castings in low-carbon steel, stainless steels, tool steels, and nickel- and cobalt-based alloys, for various industrial markets at two vertically integrated plants in Milwaukee and Harford, WI, both of which employ a high degree of process automation. It calls itself “the largest strictly commercial investment casting company in the world,” and its customers include engine, valve, and power tool manufacturers. The buyer noted that combining the companies would offer Dynacast customers more design freedom, and more choices of material, part complexity, and volume. “Given Signicast’s complementary manufacturing technology, this acquisition will expand our existing customer offerings and accelerate our strategic vision of growth,” Simon Newman, chairman and CEO commented.

Foundry Informatics Centre, 67 TughlakabaTel: +91 11 29960601, Email: fic@indianfo

Government Schemes

Bank Credit Facilitation Scheme

To meet the credit requirements of MSME units NSIC has entered into a Memorandum of Understanding with various Nationalized and Private Sector Banks. Through syndicationthese banks, NSIC arranges for credit support (fund or non fund based limits) from banks without any cost to MSMEs. Furthermore the MSMEs can upgrade their competence in terms of business and technologies by getting rated through independent, renowned and professional rating agencies empanelled with NSIC. The empanelled rating agencies are CRISIL,ONICRA, SMERA-D&B, CARE, India Ratings, BRICKWORK and ICRA. The MSE’s which get rated under NSIC-Performance and Credit Rating Scheme not only has a liberty to get rated from any one of rating agencies of its preference but it also invariably increases their creditability in business and help them in getting timely credit from banks at liberalof interest. All documentations pertaining to completion and submission of a credit proposal to banks shall be undertaken by NSIC thereby saving cost and time to MSME. To send in your loan enquiries, please contact at the below given [email protected]

For more details please click on the link http://www.nsic.co.in/bankfaci.asp

Notifications/ Circulars

Ministry of Finance, Dept. of Revenue, CBEC Instruction File Ref F. NO. 206/01/2017Periodicity of CAS-4 certificates http://www.cbec.gov.in/resources//htdocs

cbec/excise/cx-instructions/cx-instructions

2017/cx-ins-cas-4cert.pdf

Ministry of Finance, Dept. of Revenue, CBEC Notification No.12/2017 - Customs (N.T.), dt. 16.02.2017 Rate of exchange of conversion of the forcurrency with effect from 17th Februaryhttp://www.cbec.gov.in/resources//htdocs

cbec/customs/cs-act/notifications/notfns

2017/cs-nt2017/csnt12-2017.pdf

abad Institutional Area, New Delhi – 110062 foundry.org, Web: http://foundryinfo-india.org/

Bank Credit Facilitation Scheme - NSIC

To meet the credit requirements of MSME units NSIC has entered into a Memorandum of

rious Nationalized and Through syndication with

these banks, NSIC arranges for credit support (fund or non fund based limits) from banks

Furthermore the upgrade their competence in terms

business and technologies by getting rated through independent, renowned and professional rating agencies empanelled with

The empanelled rating agencies are CRISIL, CARE, India Ratings,

BRICKWORK and ICRA. The MSE’s which get Performance and Credit

Rating Scheme not only has a liberty to get any one of rating agencies of its

invariably increases their help them in at liberal rates

All documentations pertaining to completion and submission of a credit proposal to banks shall be undertaken by NSIC thereby saving cost and

loan enquiries, please contact at the below given addresses

For more details please click on the link http://www.nsic.co.in/bankfaci.asp

F. NO. 206/01/2017-CX 6

http://www.cbec.gov.in/resources//htdocs-

instructions-

Customs (N.T.), dt.

Rate of exchange of conversion of the foreign February, 2017

http://www.cbec.gov.in/resources//htdocs-

act/notifications/notfns-

Upcoming Indian Events

Upcoming International Events

Disclaimer: Although every care has been taken to ensure that

information provided is correct, The Institute of Indian

Foundrymen will not be responsible for any error or omission

and it does not necessarily represent official

Institute of Indian Foundrymen.

g/

dian Events

Upcoming International Events

er: Although every care has been taken to ensure that

information provided is correct, The Institute of Indian

Foundrymen will not be responsible for any error or omission

and it does not necessarily represent official opinion of the

Institute of Indian Foundrymen.

3rd International

Exhibition & Conference

On Steel Industry

20th - 22nd April, 2017

Mumbai Exhibition

Center, Mumbai, India

http://www.indiasteelex

po.in/

ALUCAST-2018

06 - 08 Dec., 2018

Delhi/ NCR, India

http://www.alucast2016

.com/

66th

Indian Foundry

Congress

10-12 January 2018

Gandhinagar, Gujarat

CHINA DIECASTING

2017

From.: 19th

to 21st

July, 2017

Venue: SHANGHAI

URL: HTTP://WWW.DIECASTEXPO.CN/EN/

THE 73RD WORLD

FOUNDRY CONGRES

From.: 23rd to 27th

Sept., 2017

Venue: Poland

URL: HTTP://WWW.73WFC.COM/

Issue No. 21 7, Dated 21 st February , 2017 · • Basic Metallurgy of Grey & SG Iron • Basic...

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