(i) MCIL commenced operations in 1960 to function as a component manufacturer involved in the manufacturing of bicycle parts like chains, freewheels, and BB Axles for Atlas Cycles (Haryana) Limited. Subsequently, in July 2006, MCIL developed into a complete bicycle manufacturing unit, besides being ancillary to the ACL’s Sahibabad division.
(ii) MCIL now a plethora of bicycle models catering to the kids, fancy, roadsters segments marketed through its dealer-distributor network in Uttar Pradesh, Bihar, Jharkhand, Andhra Pradesh, and Nepal, etc.
(iii) The Company expanded and grew multifold to its present size. Milton’s technical innovation, an engineering marvel, and dedication to product quality and service have made it a force to reckon with in India and abroad. The wide variety of products in Roadsters, Mountain Bikes, City Bikes, Ladies Bikes, and Kids Bikes backed by efficient after-sales service, has equipped the company to handle the diverse customer base.
Milton Cycles has a large manufacturing facility located at Sonepat, the industrial hub of Haryana. The production facility is spread in a sprawling area of 7.5 acres. Milton Cycles has a production line capable of producing 5000 units per day.
Weakness and Risk
1. The company’s operating margin is thin in the range of 2-3%. The 75% direct cost of raw material contributes to the bulk of expenses. The company over the years has also not able to pass on the rising input cost to the customers putting pressure on margins.
2. Competition is huge from the unorganized sector and moreover, a lot of Chinese companies have also forayed into bicycle business lately.
|Total Available Shares:||500|
|Face Value:||₹ 10 Per Equity Share|
|Lot Size:||100 Shares|
|Current Unlisted Share Price:||₹ 195 Per Equity Share|
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Lock-in period of Milton Cycle Industries Limited Unlisted Shares depends upon category of investors.
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