Rico Auto Industries, after a year of successful journey in the two-wheeler aftermarket, has entered the four-wheeler components aftermarket segment. The company has already established a network of 40 channel partners across India and marked a strong presence in Nepal and Sri Lanka. Last year Rico Auto started the aftermarket vertical with 28 products, and added 250 more to its product line-up. It will have over 400 products in the two and four-wheeler components segment by the end of 2018-19.
Mr. Arvind Kapur, Chairman, CEO and MD, Rico Auto Industries, said, “with the success of over 35 years in manufacturing components and the success in the two-wheeler component space it gives me great pleasure to announce our foray into the four-heeler aftermarket segment. We are highly optimistic and foresee a remarkable performance in this sector. I would like to thank all our supporters, associates, dealers and other stakeholders who have been our support system over the years and look forward to developing a close-knit and mutually sustainable relationship to add another chapter to the remarkable growth story of Rico Auto.”
Mr. Surendra Singh, President and COO, Rico Auto Industries, said, “Rico Auto carries a legacy of Excellence, Commitment, Integrity, Teamwork and Entrepreneurship; with this perfect combination we have managed to pass significant milestones. Rico Auto has witnessed continuous growth since its inception with immense focus on R&D and network development. The focused approach has resulted in phenomenal growth for Rico Auto Industries in the financial market, a testimony of our credibility and the increasing trust of our investors”.
Mr. Abhishek Kulshrestha, Vice President, Corporate Materials and After Market Business Rico Auto Industries, said, “our success is based on the unflinching commitment that Rico Auto has exhibited over the years. The success in achieving the target of Rs 10 crore in nine months in the two-wheeler segment has been a phenomenal journey for us in 2017-18. We are spreading our network in the Indian and overseas markets. We will cover uncharted territories with special focus on the SAARC countries. We will be launching new aftermarket products range for the two-wheeler segment during the approaching festive season. Our aftermarket product range will set a new benchmark in terms of quality and will include an entire range of products in the two and four-wheeler aftermarket segment. Going forward we see tremendous growth opportunity in the aftermarket, which would help us reach our projected revenue of over Rs 100 crore by 2020.”
The aftermarket will have a range of international quality standard products like Clutch Plates, Clutch Assembly, Brake Shoes, Disk Brake Pads, Brake Drum, Alloy Wheels, and other aluminium parts in two-wheeler segment, and Brake Drum, Brake Pad, Brake Shoe & Brake Disc etc. in the four-wheeler segment.
About Rico Auto Industries Limited
Rico Auto Industries Limited is a world-class engineering company supplying a wide range of high precision fully machined Aluminium and Ferrous components and assemblies like Engines, Transmission, Chassis Suspension & Braking system, to automotive OEM’s across the globe. It has 14 manufacturing facilities in India and warehouses in India and oversees. The company has strong in-house R&D capabilities and its integrated services include design, development, tooling, casting, machining and assembly across commodities. With a strong focus on New Product Development we aim to touch 2000 Cr by 2020.
The IATF 16949, ISO 14001, OHSAS 18001 company clientele includes four wheelers, system suppliers and two wheelers OEMs like Hero, Bajaj, Honda, Maruti, Renault Nissan, Toyata, BMW and instills a strong focus on non-automotive component business, especially for manufacturing and supplying of technical and engineering equipment required for Defense, Aerospace and Homeland security. Rico has over 60 licenses across various software’s, with in-house designing, prototyping & product optimization.