Amtek Auto declined 2.3% to Rs 254.40 at 10:53 IST on BSE after company said it may suffer losses up to $18 million in the next two years due to volatility in the global currency market.
The stock hit a high of Rs 261.50 and a low of Rs 240 so far during the day. The stock had a 52-week high of Rs 526 on
The company’s current equity is Rs 28.20 crore. Face value per share is Rs 2.
The current price of Rs 254.40 discounts Q2 December 2007 annualised EPS of Rs 19.38 by a PE multiple of 13.12.
Amtek Auto’s net profit rose 10.2% to Rs 64.66 crore on 18% rise in sales to Rs 319.91 crore in Q2 December 2007 over Q2 December 2006.
The company, however, is taking proactive steps to restrict the losses. Amtek Auto said it had undertaken hedges and swaps on the basis of its underlying exposure of loans, convertible bonds and exports in various currencies.
The company said the promoters have undertaken to bring the matching amount to meet the obligation through 10-year debentures or preference shares.
Despite these setbacks, the future business outlook of the company continues to be robust and is poised for growth organically and inorganically, both within and outside
Amtek Auto is a leading Indian supplier of automotive components and an integrated automotive component manufacturer of forgings, machining and sub-assemblies.
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