Amtek Auto Ltd
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BSE Code:
520077
NSE Code:
AMTEKAUTO
Business Profile
Business Profile
Amtek Auto, incorporated in 1985 currently manufactures a wide range of components for automotive applications mainly for use in engine, transmission and suspension systems. The major categories of components include connecting rod assemblies, steering knuckles, suspension and steering arms, CV joints, crankshaft assemblies for two-wheelers, torque links, machined aluminum case components precision forgings. The Company is a Tier-1 vendor and an OEM supplier to Maruti Suzuki, John Deere, TVS Suzuki, JCB, JBML, Case New Holland, GE, Hero Honda, Hindustan Motors, Mahindra & Mahindra, Tata Motors, Sanden Corp., LML Limited, Eicher Tractors, Honda Scooters, Yamaha motors, Bajaj Auto.
Amtek has expanded its manufacturing setup from a single facility to multi-location and operates from 4 factories located in Haryana, Gurgaon and Bhopal. The company has technical collaborations with Aizen of Japan for manufacturing connecting rods, Ateliers Siccardi of France for manufacturing throw crank shafts and Halverscheidt of Germany for import of manufacturing facilities. The company also operates joint ventures with Benda Kogyo of Japan for manufacturing flywheel ring gears and flex plates and Material Forming Technologies, U.K, for machining units of the company.
Financials
Amtek Auto registered a 48.32% growth in net profits to Rs 631.40 million for the quarter ended in June 2007 from a profit of Rs 425.70 million for the quarter ended in June 2006Net Sales rose 30.13% to Rs 2831.30 million for the quarter ended June 2007 from Rs 2175.70 million for the quarter ended June 2006.Total income rose 42.70% to Rs 3197 million for the quarter ended June 2007, from Rs 2240.4 million for the quarter ended June 2006.The earnings per share (EPS) of the company stood at Rs 4.83 in the quarter ended June 2007 .
Recent Developments
21-FEB-08
Amtek Auto entered into an MoU with the aim to set up a 50:50 joint venture with American Railcar Industries, a North American Leader in railcar manufacturing. The signing of MoU is part of the Amtek Auto strategy to diversify by the setting up of the company`s Amtek Transportations systems division and this JV will be part of that new division which signals a major investment by the Amtek into this new and exciting market. American Railcar Industries (ARI) is a leading designer, manufacturer and marketer of a variety of railcars in north America, ARI also repairs and refurbishes railcar, provides fleet management services and designs, manufacturers and markets certain rail cars and other industrial components used in this field. ARI is known to provide its customer with integrated solutions with a comprehensive set of high quality products and related services.
07-NOV-07
Amtek Auto acquired UK-based Triplex-Ketlon Group, a leading precision machining company, which also happens to be its strongest competitor. Triplex- Ketlon Group runs close to 185 different machining lines and has a multi-location presence in the UK with facilities at Paddock Wood, Stratford-upon-Avon and Hereford.