Auto component manufacturer - India Nippon Electrical held AGM on 8th September 2011 at Chennai wherein it declared bonus issue of 2 new equity shares for every 5 held. The company is ignition solution provider that caters to industries such as two wheelers, three wheelers and gensets.

The company expects to grow though at lower pace in FY 12. So far, the company's sales in April – July 2011 rose by 10% to Rs 79.05 crore from Rs 71.93 crore in same period last year. Out of this, the sales were Rs 58.83 crore in quarter ended June 2011, up by 11%.

Nonetheless, it plans to carry out capacity expansions at existing units in FY 12. Also it expects to make breakthrough in exports and consolidate business with current US and European customers. Besides these, it has received approval for its new smart regulator from M/s Kawasaki for use in one of their off road motorcycles. The new smart regulator is designed and developed by India Nippon.

India Nippon Electrical is a joint venture between Lucas Indian Service, a wholly-owned subsidiary of Lucas-TVS and Kokusan Denki Co., Japan - a group company of Hitachi Japan. The company makes the entire range of 2/3 wheelers, digital and analog ignition products. It currently has three facilities one each in Haryana, Puducherry and Hosur.