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Edelweiss Financial Services posted a strong topline growth that boosted the earnings for the company. In an interview to CNBC-TV18, Rashesh Shah, Chairman & CEO discussed the company’s Q2 performance and also shared his views on the news of Bharat Forge looking to bid for Amtek Auto.
The company is looking to maintain EBITDA margin of 20 percent for Standalone India business and EBITDA of 8-9 percent for overseas business, says John Flintham, Vice Chairman and MD of Amtek Auto.
Amtek Auto has shortlisted bidders for its Neumayer Tekfor subsidary and hopes to close the deal in four to six weeks, says Vice Chairman & MD John Flintham.
John Flintham, Vice Chairman and Managing Director of Amtek Auto, says the company is addressing the debt issue through debt reduction programme and has set an internal target of raising Rs 6,500 crore for debt repayment by Sep 2016.
John Flintham, Vice Chairman and Managing Director, Amtek Auto says while the company's overseas business is doing well, he doesn't see much activity in India and expects H12016 to be similar to the current market situation.
According to VC John Flintham, non-auto sectors like Railways and tractors are expected to be subdued. The organic growth in FY15 will be less compared to last year, he added.
The company is targeting annual revenue of Rs 22,000-23,000 crore in the months ahead.
The company‘s debt levels, however, will rise from Rs 3000 crore to Rs 16000 crore post these purchases, adds John Flintham, senior managing director and chief executive officer, Amtek Auto.
Prakash Diwan is bullish on Escorts despite lower-than-expected Q2 earnings due to possibility of increase in sales from its constriction equipment segment which is a huge area of margin growth for the company.
Acquisition of Neumayer Tekfor and JMTAuto already contributed to growth in quarter gone by, and the acquisition of German Kuepper Group would add substantially to growth in next fiscal year, said John Flintham, Sr MD & CEO, Amtek Auto.
Amtek Auto moved up 15 percent in a trade after reporting stellar set of Q3 earnings.