The company's recent acquisition of Neumayer Tekfor and Kuepper are yielding good results and providing great earnings visibility.
The revenues of Kuepper group are around Rs 1,400 crore and have been holding very steadily over the last six months prior to acquisition and we see nothing to change that going forward
John Flintham
Sr MD & CEO
Amtek Auto
Amtek Auto' s recent German acquisitions Neumayer Tekfor and Kuepper are yielding good results for the company along with great earnings visibility.
The shares of Amtek have risen around two-and-a-half times in the last two months. The stock was up 11 percent on April Friday.
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Speaking to CNBC-TV18's Latha Venkatesh and Sonia Shenoy, the company's senior MD and CEO John Flintham said the Amtek group's revenue is expected to be around Rs 15,000-16,000 crore by September 2014.
Year 2013 was a "spectacular year" for the group on the back of three acquisitions, he said.
"The revenues of Kuepper group are around Rs 1,400 crore and have been holding very steadily over the last six months prior to acquisition and we see nothing to change that going forward," Flintham said, adding that Neumayor Tekfor margins have risen from 6.5 percent to 9.5 percent.
He said among European markets, Germany is seeing good growth.
While UK markets are growing on robust exports, Flintham sees small signs of recovery in certain pockets in Indian markets as well.
He said the JMT Auto business is back on track and any recovery in the commercial vehicle space will bode well for the company.
Below is the interview of John Flintham, Senior MD & CEO, Amtek Auto with Latha Venkatesh & Sonia Shenoy on CNBC-TV18.
Sonia: I was speaking with you the last time when you indicated that the Amtek group revenues will be about Rs 15,000 crore-16,000 crore by the end of the September 2014. If you can split that up for us and tell us how each of your acquisitions will perform, so tell us about the latest one, the Kuepper group, what is the revenue visibility looking like because of the Kuepper integration?
A: The revenues of the Kuepper group are round about Rs 1,400 crore and been holding very steady over the last six months prior to the acquisition and we see nothing to change that going forward. The German market is holding well in Europe against the rest of the European markets, so we are pretty encouraged by that.
Amtek Auto stock price
On April 09, 2014, at 11:12 hrs Amtek Auto was quoting at Rs 173.60, up Rs 2.15, or 1.25 percent. The 52-week high of the share was Rs 181.40 and the 52-week low was Rs 58.65.
The company's trailing 12-month (TTM) EPS was at Rs 19.62 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 8.85. The latest book value of the company is Rs 219.46 per share. At current value, the price-to-book value of the company is 0.79.
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