Scholz is a leading high quality hot die forgings manufacturer for the auto and non-auto component industries
Speaking about the recent German acquisition, Gautam Malhotra, MD, Amtek India in an interview to CNBC-TV18 said the new company will improve margins and would add to the company's EPS from first year itself.
Amtek Auto has acquired German based Scholz Edelstahl GmbH through its 100% Singapore based subsidiary Amtek Precision Engineering PTE Limited.
Scholz is a leading high quality hot die forgings manufacturer for the auto and non-auto component industries. It is also engaged in the special steel trading business which will enable backward integration with all of Amtek Group's international business
The acquisition would help the company by adding news clients, give forward and backward integration and also give trading advantages, said Malhotra.
The company has paid less that four times EV to EBITDA for the acquisition through a mixture of debt and equity, said Malhotra. The debt post the acquisition would to to 4.5-4.6 times net debt to EBITDA. The EBITDA of the new company is around 14-15 million euros, he added.
According to him there would not be real increase in the debt, only a small amount of Rs 200-300 crore would come in through this acquisition. The debt on the balance sheet for the company is about Rs 15,500 crore.
transcript to follow
Amtek India stock price
On March 17, 2015, at 09:23 hrs Amtek India was quoting at Rs 55.65, up Rs 1.30, or 2.39 percent. The 52-week high of the share was Rs 137.85 and the 52-week low was Rs 53.65.
The company's trailing 12-month (TTM) EPS was at Rs 8.74 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 6.37. The latest book value of the company is Rs 89.24 per share. At current value, the price-to-book value of the company is 0.62.
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