The company was incorporated as ‘Precision Camshafts Private Limited’ on June 8, 1992 under the Companies Act, 1956 (“Companies Act 1956”), with the Registrar of Companies, Maharashtra at Mumbai. Pursuant to conversion of the company into a public limited company, its name was changed to ‘Precision Camshafts Limited’ and a fresh certificate of incorporation consequent upon change of name on conversion to public limited company was issued by the Registrar of Companies, Maharashtra at Mumbai on August 1, 1997. Pursuant to a resolution of the board of directors of the company dated January 10, 2001, the registered office of the company was shifted from 51, Sarvodaya Housing Society, Hotgi Road, Solapur, 413 003, Maharashtra, India.

A majority of the company’s revenue comes from export of camshafts to various OEMs directly and indirectly. It has long term relationships with several marquee global OEMs, such as General Motors, Ford Motors, Hyundai, Maruti Suzuki, Tata Motors and Mahindra and Mahindra. The company currently has two state-of-the-art manufacturing facilities -- an EOU unit and a domestic unit -- both situated at Solapur, Maharashtra. The EOU unit consists of four foundries and two machine shops and products manufactured at the EOU unit are primarily exported to its overseas customers. The domestic unit consists of one foundry and one machine shop and it caters to its domestic customers from this manufacturing facility.

In order to strengthen its business operations in Asia, the company has entered into two joint ventures with NSPCL, the first, Ningbo Shenglong PCL Camshafts Company, for machining of camshafts and the second, PCL Shenglong (Huzhou) Specialised Casting Company, for setting up a foundry in China. Further, the company continues to invest in technologies, designing capabilities and research and development activities. The company uses different technologies in its engineering and manufacturing operations including shell sand molding process technology, special (AI203/ ceramic sand care) technology and GBQII process technology which the company provides it a cost competitive advantage among its competitors. The company also has a dedicated design and development team of nine engineers along with a well-equipped inspection laboratory and a calibration laboratory. The company has also entered into an exclusive agreement with EMAG, a German machining and tooling process company, for transfer of certain know-how and technology in order to strengthen its foray into assembled camshafts and expand its business operations in the European market.

Business area of the company

The company is one of the world’s leading manufacturers and supplier of camshafts, a critical engine component, in the passenger vehicle segment based on its estimated global market share by volume. The company supplies over 150 varieties of camshafts for passenger vehicles, tractors, light commercial vehicles and locomotive engine applications from its manufacturing facilities in Solapur, Maharashtra.

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Market Cap	2,215 Cr	ROE	6.6%
P/E Ratio(TTM)	53.4	EPS(TTM)	0.0
P/B Ratio	3.1	Dividend Yield	0.4%
Industry P/E	52.8	Book Value	75.8
		Face Value	10.0

Fundamentals