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Amtek Auto posts Rs 529-crore loss in January-March qtarter

Amtek Auto posts Rs 529-crore loss in January-March qtarter

MUMBAI: Debt laden Amtek Auto BSE 7.59 % on Tuesday reported a loss of Rs 529 crore for the January-March quarter, but its chief executive sounded confident about the future with the group's long overdue restructuring finally getting underway. 

Amtek has shortlisted two bidders for Tekfor, its German subsidiary , John Flintham told ET in an interview. The company is also in talks with a financial investor to offload a 

significant stake in Amtek Auto, he added, but declined to elaborate. 

People in the know said the stake sale could be for 25-35%. This stake sale will be in addition to selling of non-core assets in India and the Tekfor transaction. These are expected to help the group retire debt by two-thirds, or Rs 10,000 crore, in the coming three to six months. According to company executive, Amtek had consolidated debt of Rs 14,800 crore at the end of March 31, 2016. The endeavour is to shed debt two-thirds, or Rs 10,000 crore, in the coming three to six months. According to company executive, Amtek had consolidated debt of Rs 14,800 crore at the end of March 31, 2016. The endeavour is to shed debt and break into profits within a year. 

"We are in talks with several marquee investors, which we hope will fructify in the coming three months. We have been doing quite a lot of due diligence on technical and financial viability and we are now moving towards final discussion with our investors to look to sell of significant chunk so that we can reduce the debt further," said Flintham. 

After the induction of a new investor, the company is likely to restructure its operations and merge some of the units back into Amtek Auto. These units had earlier been hived off and listed separately, earning investors ire. On being asked for a time frame to complete the transactions, Flintham said he will be disappointed if the entire sale process and restructuring are not consummated by the third quarter of this fiscal year. 

Updating on an asset monetisation and debt realignment plan announced earlier, Flintham said the company is in the "final prongs" of agreeing with one of those two bidders for Tekfor, which is very much in line with the time frame shared with the board. However, on the sale of non-core assets in India, Flintham said: "The process is slower," which is a reflection of the economy in India. 

The operational performance of the company has improved, but it still continues to bleed. While .Amtek registered a loss of Rs 529 crore, the company said most of that was contributed by an exceptional item of Rs 439 crore. Flintham didn't elaborate on the exceptional item. The company said capacity utilisation had gone up to 55% for the group in the past quarter and the overseas business had offered a good support with almost 75% of its quarterly revenue coming from foreign markets. 


2017-01-04 19:05:49

Yeah, but 4 comments was the peak. It's all downhill from here until it evaltuelny peters out.There are only so many ideas in the world, so we better not use them up too fast.

2017-01-04 21:07:00

Sig. Varrese,scavalchiamo la ferrovia con i sottopassi ed i cavalcavia fatti costruire da BERLEN con i soldi delle RFI.Che cè vo’Volareeeeeeeeee ohohhoohhoh in altoooooooo ohohhohohohoh.

2017-01-04 21:15:45

Hi Elise, misschien wel een goed idee om daar op vakantie te gaan, dat zien we wel na een goede terugkomst. Het is goed om te vernemen dat iedereen het goed na de zin heeft. Leuk om te zien hoe jullie spelen en knuffelen met de kinderen en dat de verzorging ook goed wordt gewardeer. Veel plezier met de Hollandse avond, ben benieuwd. We hadden vandaag mooi carnavals weer, Your vraagt al hoe laat we morgen naar Ooy gaan, we zien wel. Leana komt net lekker moe thuis. Kusjes pa en de rest.

2017-01-04 21:22:57

Oh Happy Thanksgiving and thank you for those wonderful mouth-watering, eye-candy photos. Mmmmm.... yummy looking men.... drool...Bumper and I will have a Happy Thursday - thanks again.

2017-01-04 22:35:51

lot of person is surfing this problem but i want to gain fat but can’t because i can’t eat much all days. ha ha ha anyway i am slim so all girl say to me for go to bed alonelol. fat is very big problem so we should keep awar from childhood. your blog is very big helpful.

2017-01-04 22:51:38

Hi Yas - There actually wasn't a lot of meat in our dishes, but I didn't realise you were more of a veg person, or should that be deep-fried and cream fan? :)Haha, I didn't even realise it was a bathroom shot. Well it was the outside, and hey, have you ever seen anything like it? lol

2017-01-04 22:57:45

Io sicuramente sia su Rai5 che lasciando pronto anche lo streaming sul sito dell’evento.. e naturalmente i commenti qui da noi in chat ^^ ( ti dico la mia esperienza: io adoro il voting .. ti fa salire l’adrenalina ed è una delle parti più belle ed emozionanti di tutto l’evento :)

2017-01-04 23:33:18

I could read a book about this without finding such real-world approaches!

2017-01-04 23:42:28

Ahh nice denim shirt - quite unusual to see one with a lovely colourful stitch! Pretty funkayyy! If I was a bloke I'd wear all this stuff! I also especially like the big sheet of blue paper taped to the wall of these shots! Hope you're feeling a tad more chirpier too Mat!

2017-01-05 00:03:31

Your right, landlords only care to see that you are current on your bills. If you have missed payments or bankrupt is when they begin to get nervous. also, the more you can put down to get into the house will allow you an upper hand to getting in. The rental market is flooded and you have some competition. Just be honest and upfront and let them get a feel for your character. They are letting you rent there house. It can be a tough decision on there part because of what they have at steak.

2017-01-05 00:38:09

This article is a home run, pure and simple!

2017-01-05 00:47:29

Never seen a better post! ICOCBW

2017-01-05 01:30:47

"Any minority group member who aligns with conservatives is immediately assigned the same VVI status as a white male".Or worse.It makes me think of the obsessive hate in my country (Holland) from left wingers towards Ayaan Hirsi Ali once she publicly started criticising muslims.This is a great piece of writing.It perfectly explains why left wingers will never seriously confront muslims with their misogyny, racism, homophobia, antisemitism, etc.etc. I think you're brilliant Daniel, keep up the good work.

2017-01-05 01:51:09

I know I’m not one of the first 40 and won’t be getting a free strap, but it does look very nice. One thing though… it’d be nice if you’d put a link for where to buy one in the blog post. I did some searching and found it on Musician’s Friend. From the comments it seems like a lot of people would be interested in buying the strap and it’d make it a lot easier for them to do so if there were a few links to some of your online dealers. I’m sure they would appreciate it too! Otherwise, good post!!

2017-01-05 02:21:12

Sharon, you are my hero — for using lycra, polyester and any and all fabrics if they fit. So many people almost have a hissy fit if you just mention the word “polyester” to them. I certainly don’t want to wear polyester (or lycra), so what else to do with it but put it in a CQ? Thank you for this enormous task you’re undertaking of documenting this quilt. I love it.

2017-01-05 02:29:59

BS low - rationality high! Really good answer!

2017-01-05 02:41:53

Heckuva good job. I sure appreciate it.

2017-01-05 02:49:44

"The financial crisis gripping Greece – ... – has forced the country to rely heavily on corporate sponsorship to fund its Olympic program."That would be precious if there weren't so many suffering...(Being saved by a Capitalist entity...)

2017-01-05 03:09:37

A me sinceramente interessa il tuo parere anche sulle serie televisive. Mi ricordo quando commentavi Lost, il pensiero di una tua recensione aggiungeva interesse all’episodio stesso. Misfits non lo guardo, quindi è normale che le recensioni non le seguo, però a chi segue il telefilm secondo me fa piacere leggere le tue considerazioni

2017-01-05 03:16:49

For the love of God, keep writing these articles.

2017-01-05 03:23:03

Bien joué ! J’aime ce ton léger !(Par contre je ne sais pas non plus dans quelle mesure cette propagande rassure… et surtout cette pub ne propose rien, c’est impressionant.)

2017-01-05 03:31:18

What I find so interesting is you could never find this anywhere else.

2017-01-05 04:11:58

Osobně bych možná jen pro přesnost změnil slova zadarmo na z obecního či státního rozpočtu. Ale vyznění textu by to stejně nezměnilo, protože jde o to, jestli vůle občanů, jak se má nakládat s jejich penězi je důležitější než zisk jednotlivce. V tomto případě se ukazuje, že spíše ne.

2017-01-25 07:31:36

keep up the good work on the site. I appreciate it. Could use some more frequent updates, but iÂ’m quite sure that you have got more or better things to do , hehe. :p

2017-01-25 07:51:19

Sajnos elvesztettem a receptem, ami alapján csodálatosan meg lehetett sütni ezt a sütit.Kipróbáltam ezt a receptet, azt kell mondjam, hogy sajnos, a hozzávalók alapján ezt NEM lehet elkészíteni, ez a recept amúgy viccnek volt szánva???

2017-01-25 07:57:56

Good to see real expertise on display. Your contribution is most welcome.

2017-01-25 09:01:54

I much prefer informative articles like this to that high brow literature.

2017-01-25 10:17:24

So, will the grey and the gray men have other evil brothers and sisters? The green guy? The lavender person? The off puce dude?

2017-01-25 11:02:19

Got it! Thanks a lot again for helping me out!

2017-01-25 11:51:11

Thanks for starting the ball rolling with this insight.

2017-01-25 12:51:50

Hey! I have an idea! Add a real-time video view count box! That would be awesome! Also, the beta page is horrible. It looks like Google Video's video page. G-vid was a flop. Don't use beta!

2017-01-25 16:51:02

I like the term ‘heteronormative’ and I feel this is just part I of a wider discourse. Looking forward to Part II I had not thought of it before but you are right – we do tend to define homosexuality “vis-a-vis the working norm” – sort of how most of much of what’s happening around the world is defined from the western perspective – India’s 911/Bollywood, anyone? Great fodder for thought!

2017-01-25 16:59:51

You really saved my skin with this information. Thanks!

2017-01-25 18:37:25

With all these silly websites, such a great page keeps my internet hope alive.

2017-01-25 18:49:44

Good job making it appear easy.

2017-01-25 18:57:57

Amrito. …. yes my Dear … somehow you are right / wrong butl owe it him …. jus like you feel for Arun … lam not comparing in anyway …. but somehow thats the paradox … and Life is in the Paradox …. There is no Choice

2017-01-25 21:01:25

Ooh!I still know how to put back to upside down again!Add a &flip=1 behind the video link and it will be upside down again!I totally LOVE doing this when Im bored!!!

2017-01-25 23:26:54

Sol, no te preocupes porque la gente que se une a esa página no queda ligada de ninguna forma a tu perfil.No se puede sugerir una página a quien no es tu amigo en Facebook. No te compliques mucho con eso, ahora concéntrate en publicar contenido interesante en la página.Saludos

2017-01-26 00:26:14

On en revient chaque jour à la conclusion que les gens qui ont élus Sarkozy n’auraient jamais du l’élire… Alors merci les gars ; sympa le boulet pour 5 ans. Ce qui me console un petit peu c’est que ses électeurs aussi il les entraine dans le fossé.

2017-01-26 02:07:43

salah satu ciri kemajuan adalah selalu menaikkan standar pencapaian.Jjangan lupa juga arah naiknya udah tepat belum ke mimpi besar yg ingin di raih, biar gak muterr-muter. Cara membreakdown mimpi gaya mas AM kayaknya bisa dipertimbangkan.

2017-01-26 03:40:46

Am großartigsten waren selbstgebaute Raumschiffe. Die wurden teilweise so groß, dass ich sie kaum noch vernünftig hochheben konnte ^^Verdammt, jetzt würd ich gern ‘ne Runde basteln.

2017-01-26 05:35:10

I was dressed nicely. Look lady, go find someone else to bug and pass judgement on. Your attempt to guilt-trip me into feeling like I’ve insulted someone simply for riding a bicycle is just wasting everyone’s time. But yes, next time I will rent a limosine and a tux when I’m going a few blocks to StarBucks. Thanks for the advice.

2017-01-26 06:04:27

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2017-01-26 07:47:28

Jeneth, I am so happy to hear you say that money is just a tool. I have always thought of moneythat way. It is just a tool. I have done healing work and worked as an artist for many years and if I had connected my worth with how much money I have made I would not have done the work that I have done. Thanks for putting that out there. It is an important concept.

2017-01-26 10:57:04

Simple and effective – easy to mount and setup – laser really helps get the shot you are after with minimum effort. Field of view is outstanding. Battery life has been excellent – even over extended multi hour use.

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