Strong

National

Presence

In a span of more than a decade, PVPL has spread its wings all over India. The
phenomenal growth in our vehicle sales is substantially linked to and wellsupported by our robust infrastructure. The company employs over 2500 people
and is acknowledged as the pace setter in technologically advanced and highly
dependable transportation solutions.

Our sprawling Manufacturing Unit at Baramati, Maharashtra is working to

capacity producing small commercial vehicles for India and select international
markets. It has a annual production capacity of 3,00,000 three-wheelers and
80,000

four-wheelers.

The state-of-the-art Plant is supported by the R&D Centre, recognized by the

Govt. of India. Along with corporate office in Pune, a chain of 10 regional &14
area offices strategically located in select cities helps cover each state better.
PVPL interfaces with its customers through a vast distribution network of more
than 750 touch points.

Take a sneak preview of our state-of-the-art infrastructure in India.

Gallery

profile
Piaggio & C. SpA (Piaggio) [pjaddo] via its subsidiaries designs, engineers, manufactures and
distributes two wheeled motor vehicles and compact commercial vehicles under seven brands.
Piaggio & C. SpA corporate headquarters are located in Pontedera, Italy. Piaggio's various
subsidiaries employ a total of 8,129 employees who produced at total of 615,500 vehicles in
2012.[2]Piaggio operates six research and development centers and operates in over 50
countries.[3]

History

Founded by Rinaldo Piaggio in 1884, Piaggio initially produced locomotives and railway
carriages. During World War I the company focused on producing aircraft.
During World War II the company produced bomber aircraft, but Piaggio emerged from the
conflict with its Pontedera plant completely demolished by Allied bombing. Italy's crippled
economy and the disastrous state of the roads did not assist in the redevelopment of the
automobile markets. Enrico Piaggio, the son of Piaggio's founder Rinaldo Piaggio, decided to
leave the aeronautical field in order to address Italy's urgent need for a modern and affordable
mode of transportation. The idea was to design an inexpensive vehicle for the masses.
Aeronautical engineer Corradino D'Ascanio, responsible for the design and construction of the
first modern helicopter by Agusta, was asked by Enrico Piaggio to create a simple, robust and
affordable vehicle. The vehicle had to be easy to drive for both men and women, be able to carry
a passenger, and not get its driver's clothes dirty. In 1946 Piaggio launched the Vespa scooter
(Italian for "wasp") and within ten years over a million units had been produced. The Italian
language gained a new word, "vespare", meaning to go somewhere on a Vespa.

Development[edit]
With strong cash flow from the success of the Vespa, Piaggio developed other
products, including the 1957 Vespa 400, a tiny passenger car.

In 1959, Piaggio came under the control of the Agnelli family, the owners of car
maker Fiat SpA. In 1964 the two divisions, aeronautical and motorcycle, split to
become two independent companies as a result of the wide ownership by Fiat in
Italian industry.[clarification needed] The aeronautical division was named IAM
Rinaldo Piaggio. The aircraft company Piaggio Aero is controlled by the family
of Piero Ferrari, who still hold 10% of Ferrari.

In 1969 the motorcycle company purchased Gilera.

Under new ownership[edit]

Vespa thrived, until 1992, when Giovanni Alberto Agnelli became CEO, but
Agnelli was already suffering from cancer and died in 1997. In 1999 Morgan
Grenfell Private Equity acquired Piaggio, but hopes for a quick sale were
dashed by a failed joint venture in China.[clarification needed] In Italy, Piaggio
invested 15 million euros ($19.4 million) in a new motorcycle but dropped it
after building a prototype. By the end of 2002, the company had run up 577
million Euros in debt on revenues of 945 million Euros, and booked a loss of
129 million Euros.

Then came Roberto Colaninno, who said, "A lot of people told me I was crazy.
Piaggio wasn't dying. It just needed to be treated better." Piaggio's financial
position was in a bad shape, but its brand was still well known and its products
were featured in many Hollywood films thanks to the Vespa ET4. In 1995,
Colaninno had pulled off Europe's then largest-ever hostile takeover when he
took control of Telecom Italia SpA. In October 2003, Colaninno made an initial

investment of 100 million euros through his holding company Immsi SpA in
exchange for just under a third of Piaggio and the mandate to run it. Chief
executive Rocco Sabelli redesigned the factory on Japanese principles, and
changed it so that every Piaggio scooter could be made on any assembly line.

Unlike the turnaround recipe applied at U.S. auto makers, Mr. Colaninno did
not fire a single worker a move which helped seduce the company's sceptical
unions. "Everyone in a company is part of the value chain," said Colaninno. All
bonuses for blue-collar workers and management were based on the same
criteria: profit margins and customer satisfaction. Air conditioning was installed
in the factory for the first time, increasing productivity. He also gave the
company's engineers, who had been idled by the company's financial crisis,
deadlines for projects. They rolled out two world firsts in 2004: a gas-electric
hybrid scooter and a sophisticated tilting scooter with two wheels in front and
one in back to grip the road better.

One of Piaggio's problems Mr. Colaninno couldn't fix from the inside was its
scale. Even though Piaggio was the European market leader, it was dwarfed by
rivals Honda and Yamaha. A year after restoring Piaggio's health, Colaninno
directed Piaggio's takeover of the Italian scooter and motorcycle manufacturer
Aprilia, and with it the Aprilia-owned Moto Guzzi, storied Italian manufacturer
of motorcycles.

In 2006, Piaggio floated on the Milan Stock Exchange, becoming a public

company.

Profile:

Piaggio & C SpA (PIA.MI)

FULL DESCRIPTION
Piaggio & C SpA is an Italy-based company engaged in the manufacture of
motor vehicles. Piaggio & C SpA is a parent of Piaggio Group and focus on
production of two-wheeler motor vehicles. The Companys product range
includes scooters, mopeds and motorcycles from 50cc to 1,400cc type marketed
under the Piaggio, Vespa, Gilera, Aprilia, Moto Guzzi, Derbi and Scarabeo
brands. Piaggio & C SpA operates in the three- and four-wheeler light transport
sector with its Ape, Porter and Quargo ranges of commercial vehicles.
Additionally, the Company produces spare parts and accessories for motor
vehicles. The Company provides research and development activities for its
vehicles and engines in the production units in Pontedera and Noale, among
others. The Company operates in the domestic market and internationally
through its subsidiaries, including Aprilia Brasil Industria de Motociclos SA,
Aprilia Racing Srl, Piaggio Vespa BV, Piaggio France SAS and National Motor
SA, among others.

OVERALL
Beta:

0.46

Market Cap(Mil.):

1,095.18

Shares Outstanding(Mil.):

361.21

Dividend:

0.07

Yield (%):

2.37

FINANCIALS
PIA.MI

Industry

Sector

P/E (TTM):

67.71

14.07

18.65

EPS (TTM):

0.04

--

--

ROI:

1.65

13.66

12.93

ROE:

3.97

17.60

16.49