Incorporated in 1986, Hi-Tech Gears Limited (HTGL) manufactures automotive gears and shafts at Bhiwadi, Rajasthan, mainly for Hero Honda Motors (HHML). The Company is an auto component manufacturer (a Tier 1 supplier). Over a period of time, it acquired additional equipments to cater to the requirement of gears and shafts for HHML and other original equipment manufacturers. The Company is engaged in the business of gears and transmission components.
HTGL has tied up with Kyushu Musashi, a subsidiary of Honda Motors, Japan, to manufacture closed-die forgings in India. This particular product is a raw material for transmission gears and shafts. These forgings are at present imported by HHML. With the implementation of the forgings project, the company will stand to benefit as in-house forgings manufacture will result in value-added and cost-effective products. The technology thus acquired will be unique which imparts greater strength to forgings and will not be restricted to the automobile sector. This is the first time this technology is being transferred outside the Honda group.
Company commenced supply to M/s Cummins world wide. Besides this the company is developing markets in Germany and increasing its business in U.K. Company also confident about the healthy segment of its business due to company's largest customer M/s Hero Honds Motors Ltd. Company formed a small group named Hi-tech Soft which is utilising software from original equipment (OE) customers to undertak ...e projects on assembly, modelling, computer aided machining (CAM), drawing and other engineering services.
During the year 2003-04, Hi-Tech Robotic Systemz Inc. was incorporated as a 100% subsidiary of the Company. In 2005, the Company set up Manufacturing plant at Manesar.
During 2017-18, the Company incorporated a Wholly Owned Subsidiary Company in US in the name of 'Neo-Tech Auto Systemz Inc.' and subscribed 10,00,000 common shares of CAD $ 0.01 each. Similarly during the year 2018-19, it incorporated a Wholly Owned Subsidiary in Canada in the name of 'Neo-Tech Smart Solutions Inc.' and subscribed 2,50,000 common shares of CAD $ 1 each.
As on March 31, 2023, the Company had 9 Wholly-owned Subsidiaries consisting of 3 wholly owned subsidiaries viz., 2545887 Ontario Inc., Neo-Tech Smart Solutions Inc. & Neo-Tech Auto Systemz Inc., and 6 wholly-owned step down subsidiaries viz., 2504584 Ontario Inc., 2323532 Ontario Inc., The Hi-Tech Gears Canada Inc., Teutech Holdings Co., Teutech Leasing Co. and Teutech LLC. However, 2 Wholly-owned Step-Down Subsidiaries i.e., 2323532 Ontario Inc. and 2504584 Ontario Inc. got amalgamated with The Hi-Tech Gears Canada Inc. (Wholly-owned Step down Subsidiary of the Company) w.e.f. June 15, 2023 and both the aforesaid Wholly-owned Step-Down Subsidiaries, viz., 2323532 Ontario Inc. and 2504584 Ontario Inc ceased to exist from June 15, 2023.
FAQs on The Hi-Tech Gears Ltd
1. Can I buy The Hi-Tech Gears Ltd from PL Capital? ›
Yes, you can invest in The Hi-Tech Gears Ltd shares directly through PL Capital. Our platform provides a seamless and secure way to buy, hold, and track The Hi-Tech Gears Ltd stock along with other leading companies listed on the NSE and BSE. Simply open a Demat and trading account with PL Capital, and you’ll be able to trade The Hi-Tech Gears Ltd as well as diversify your portfolio across equities, mutual funds, IPOs, and more.
2. Does The Hi-Tech Gears Ltd pay dividends? ›
Yes, The Hi-Tech Gears Ltd has a consistent history of rewarding its shareholders through dividend payouts. Dividend frequency and amounts vary depending on the company’s financial performance and board approvals. Investors holding The Hi-Tech Gears Ltd shares on the record date announced by the company are eligible to receive dividends directly into their bank accounts linked with their Demat holdings.
3. What is the current share price of The Hi-Tech Gears Ltd ? ›
As of
01-Jan-1980 , 00:00:00 the share price for The Hi-Tech Gears Ltd. is ₹ 653.6 on the NSE (Note: Prices are dynamic and update frequently during market hours).
4. What is the 52-week high and low of The Hi-Tech Gears Ltd ? ›
The 52-week high and low of The Hi-Tech Gears Ltd share price is ₹ - ₹ as of
01-Jan-1980 , 00:00:00 .
