Mahindra Forgings (MAHFORG) NOW Mahindra CIE Automotive Ltd , incorporated under the name Mahindra Automotive Steels, was a non-operating company. Pursuant to a scheme of arrangement between Amforge Industries and Mahindra Automotive Steels, the entire Chakan unit of Amforge Industries as a going concern together with all the assets and liabilities relating to the Chakan unit was transferred to and vested in Mahindra Automotive Steels with effect from April 1, 2005. It is expected that the demerger will improve capacity utilization and productivity of the Chakan unit and shall enhance the synergies between the Chakan unit and Mahindra Forgings' plans in the automotive component sector and the forging business. The Mahindra and Mahindra group at present holds 47.11% stake in the company. The company's forging and machining facility is one of the top three forging companies in India with an installed capacity of 42,000 MT. Mahindra Forgings is the largest supplier of forged components (like crankshafts and steering knuckles) to the Indian automotive market, commanding a 40% market share.
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