Chennai-based auto component maker JM Frictech India Pvt Ltd (JMI) aims for Rs 1,000 crore revenue in the next two-three years, driven by the rising demand for hydrostatic transmission and wet clutch components in India as well as in abroad. Out of the Rs 1,000 revenue, the company aims Rs 350 income from export in the next two-three years, betting highly on hydrostatic transmission demand in the European markets.
The hydrostatic transmission is a vehicle without clutch and gear attached to it. Founded in 2008 as a joint venture between India’s NTC Engineering and South Korea’s Jinmyung Frictech Co Ltd (JMFT), JM Frictech manufactures wet friction systems and hydraulic actuation components for tractor and construction equipment manufacturers.
The company, which is expected to generate Rs 650 crore in FY27, supplies brakes, clutches, and gears to Escorts Kubota, Mahindra tractors, CNH, Caterpillar, JCB, among others, and employs nearly 1,300 people across five manufacturing plants located in Sriperumbudur, Thirumazhasai, Pillaipakkam, Ranipet. It has invested to Rs 50 crore for setting up new plant at Mohali Industrial Area near Chandigarh.
E Madhavan, MD at JMI, said that the company has 75% market share in these components. He said that most of its customers are tractor manufacturers and wants to increase customer base in construction equipment manufacturer segment to 30% in the next four to five years.
Madhavan said, “Though we have 75% market share in brakes, clutches and gears segment, our majority customers are tractor manufacturers. We want to increase customer base in the construction manufacturer to 30%, which is around 15% and remaining is in the mining segment.”
Madhavan says that the many countries in Europe are moving to smaller tractors which are below 30HP. “For a smaller agriculture land, tractors below 30HP will be ideal, and installing hydrostatic transmission. We are seeing robust for this component as manufacturers like Escorts Kubota, CNH and Caterpillar plans to make these vehicles. In India, companies like Escorts Kubota are planning to make 30HP tractor, and we will be supplying to them hydrostatic transmission.”
JMI will supply auto components to Escorts Kubota, CNH and Tractors and Farm Equipment (TAFE) Ltd for its factory which are under-construction or planned to be constructed in Uttar Pradesh. “The expansion in Chandigarh is to align with our customers’ expansion plan in North India. We will move of manufacturing equipment to Chandigarh plant and will produce components for customers based there. Here we will focus on domestic requirement and export products.”