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Metalyst Forgings Limited
Sector:Engineering Engineering - Forging/Casting
Market Lot: 1Face Value: 10ISIN Demat: INE425A01011
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Business Profile
Ahmednagar Forgings (AHMEDFO), an Amtek group company, is engaged in the manufacture of high precision closed die steel forgings and auto components for the automotive, defence and railway sectors. The company was incorporated in 1977 and Amtek acquired 62.57% stake in the company in 2002. Arvind Dham is the chairman and A. K. Syal, the managing director of the company.

The company is the largest forging manufacturer in the small and medium component segment. The company specializes in products like connecting rods and caps, crankshafts and camshafts, steering levers, gear shifter forks, sector gears and shafts, front impact beams drive shafts, spindlers, hubs and flanges, transmission components, steering parts, pistons, propeller fork shafts, stub-axles, front axle beams, front and rear axle shafts.

The company has six manufacturing facilities in Ahmednagar, Chakan, Kuruli, Baddi, Bhopal and Gurgaon. The Ahmednagar facility manufactures very intricate medium sized forgings of up to 60 Kg. The Chakan facility has drop hammers, power presses, up-setters and hydraulic presses to manufacture forgings of upto 200 Kg. The Kuruli facility has mechanical forging presses from 700 tons to 6,000 tons capacity. The Gurgaon facility is a closed die press forging facility with eight mechanical forging presses of upto 1,600 tons. The Bhopal plant manufactures high screw presses precision forgings with an installed capacity of 9,000 tons of components per annum. The Baddi facility is capable of manufacturing large and medium-sized forgings.

Customers include Ashok Leyland, Aston Martin, Bajaj Auto, BMW, Briggs & Stratton, CNH Global, Cummins, ..etc. It has a global presence in USA, UK, and Germany. Its registered office is at Gat No 614, Kuruli village, Khed taluka, Pune-410501, Maharashtra.

The company reported rise of 49.10% in standalone net profit on y-o-y basis to Rs 577.30 million, while total income increased 79.17% y-o-y basis to Rs 6.50 billion for the quarter ended June 2014.

Recent Developments
Warhol has sold 1.99% stake in Ahmednagar Forgings for Rs 76.82 million on Tuesday. It has sold 0.73 million shares at a price of Rs 105.

Ahmednagar Forgings disclosed a phenomenal rise in standalone net profit for the quarter ended June 2010. During the quarter, the profit of the company rose 79.93% to Rs 198.10 million from Rs 110.10 million in the same quarter previous year.

Future Plans
The company plans to pursue the inorganic growth strategy in the future. The Amtek group has acquired a substantial stake in GWK group of UK, Smith Jones of USA and Zelter of Germany. The company, however, intends to grow organically as well, in order to combat the high prices of forging steel and the inadequate R&D capabilities to meet the demands of the export market.

In Brief

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