Amtek Auto has fully paid the entire outstanding amount of $145.97 million against redemption of outstanding bonds along with yield to maturity (YTM). Accordingly, there are no-outstanding Foreign Currency Convertible Bond (FCCB's) against the above bond issue of $250 million. Earlier, Amtek Auto had issued $250 million Zero Coupon Foreign Currency Convertible Bond in the year 2006. Out of this, bonds of $108.6 million were due for maturity along with YTM of $37.37 million.
The company has reported an increase of 47% in its net profit at Rs 62.35 crore for the quarter ended March 31, 2011 against Rs 42.41 crore for the quarter ended March 31, 2010. The company has reported net sales / income from operations of Rs 461.26 crore for the quarter ended March 31, 2011 against Rs 340.39 crore for the quarter ended March 31, 2010.
Amtek is one of the largest suppliers of automotive components to auto companies such as Tata Motors, Maruti Suzuki and Hyundai. It is also the first automotive component maker to foray into vehicle manufacturing. Amtek operates 43 manufacturing facilities in India and abroad. The project is expected to start with the medical vehicle segment and will have high localization.
Company Name | CMP |
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