Amtek India Limited
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Incorporated in 1982, Amtek India is promoted by the Amtek group. The company is into automobile ancillaries. Amtek India manufactures automotive components with a special focus on a variety of iron castings. The company has two manufacturing units located at Gurgaon in Haryana and Bhiwadi in Rajasthan. Amtek India is the largest manufacturer of gear shifter forks and forks in the country.
Its Gurgaon unit was commissioned in 1995 and is engaged in the machining of a variety of large and medium sized automotive components like connecting-rods, spindles, transmission covers, gear shifter fork, yokes, bridge fork, bottom assembly, pivot arms, crank-cases and other machined castings. The core competence of this unit is the precision machining of a very wide variety of iron castings and forging components. The Bhiwadi (Rajasthan) plant is a state of the art foundry commissioned in 2001. It has a new pressure moulding line and manufactures intricate castings like engine blocks and the head, along with flywheel housings and transmission casings.
The company is the original equipment supplier to Maruti Udyog, JCB, New Holland Tractors, John Deere Tractors, Hundai Motors, ITL, Eicher Motor and also refrigeration industries like LG Electronics.
The installed capacity of machined components has been increased from 7.5 million to 12.5 million pieces per annum in 2004-05. Amtek India has also acquired UK based Sigmacast Group, one of the largest suppliers of turbocharger housing components for automobiles in the world.
Amtek India registered a 96.77% growth in net profits to Rs 341.00 million for the quarter ended March, 2007 from a profit of Rs 173.30 million for the quarter ended March, 2006. Net Sales for the quarter rose 71.24% to Rs 2112.90 million for the quarter ended March, 2007 from Rs 1233.90 million for the quarter ended March, 2006. Total income rose 73.20% to Rs 2183.3 million for the quarter ended March, 2007, from Rs 1260.6 million for the quarter ended March, 2006. The earnings per share (EPS) of the company stood at Rs 3.83 in the quarter ended March, 2007.