Amtek Auto gains on good Q4 outcome

Amtek Auto rose 1.54% to Rs 210.95 at 09:26 IST on BSE after net profit jumped 42.2% to Rs 74.37 crore on 32.9% growth in total income to Rs 1042.16 crore in Q4 September 2014 over Q4 September 2013.

The company announced the result after market hours yesterday, 24 November 2014.

Meanwhile, the BSE Sensex was up 2.07 points, or 0.01%, to 28,501.61

On BSE, so far 2.49 lakh shares were traded in the counter, compared with an average volume of 1.86 lakh shares in the past one quarter.

The stock hit a high of Rs 218.20 and a low of Rs 210.50 so far during the day. The stock hit a 52-week high of Rs 272.40 on 9 June 2014. The stock hit a 52-week low of Rs 62.25 on 4 February 2014.

The mid-cap company has an equity capital of Rs 44.06 crore. Face value per share is Rs 2.

On a consolidated basis, Amtek Auto's net profit jumped 102.5% to Rs 848.21 crore on 48.6% growth in total income to Rs 15706.64 crore in the year ended 30 September 2014 over the year ended 30 September 2013.

Amtek Auto agreed to acquire two Europe based and one South East Asia based auto and non-auto component companies through its Singapore based wholly owned subsidiary. The acquiring companies have six world-class manufacturing facilities across Europe and South East Asia, which have a combined sale in excess of Rs 2000 crore to blue chip OEM's and tier one customer worldwide, Amtek Auto said. The proposed acquisitions will further strengthen Amtek's position as one of the largest integrated global forging, casting and machining business house, the company added.

Meanwhile, Amtek Auto's Board of Directors at its meeting held yesterday, 24 November 2014, also approved issuance of Secured / Unsecured Redeemable Non-Convertible Bonds / Debentures through private placement basis.

Amtek Auto is one of the largest integrated component manufacturers. The company has significant expertise in the automotive components sector with proven capabilities in forging, grey and ductile iron casting, gravity and high pressure aluminium die casting and machining and sub-assembly. It has an extensive product portfolio with a range of highly engineered components. The company supplies components for passenger cars, light and heavy commercial vehicles, 2/3 wheelers, tractors, locomotive components and construction and earth moving vehicles. Over the last decade, Amtek Auto has established several joint ventures and technical partnerships with leading global firms to offer customers a world class product range.

Powered by Capital Market - Live News