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Akar Auto Industries Limited
Sector:Engineering Engineering - Machine Tools
Market Lot: 1Face Value: 5ISIN Demat: INE864E01021
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Business Profile
Akar Tools (AKATOOLS) produces castings and forgings like double open spanners, ring spanners and combination spanners made from chrome vanadium and carbon steel. The company has doubled its capacity for drop forged products and now produces tubular box spanners, pliers, pipes, hacksaws, bearing pullers, nail pullers, wrenches, chisels, carpenter tools, vices, punches and other products.

The company`s plant is located at Waluj in Maharashtra. The company has recently taken over the facilities of Ajanta Auto Ancillaries producing Leaf Springs.

The company caters to both domestic and overseas markets. Its export markets include US, Europe, Japan and Australia.

The company`s registered office is in Mumbai and Sunil Todi is its managing director.

The company announced a substantial drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 82.45% to Rs 0.86 million from Rs 4.90 million in the same quarter last year. Net sales for the quarter rose 21.27% to Rs 223.35 million, while total income for the quarter rose 21.27% to Rs 223.35 million, when compared with the prior year period. During the quarter, It reported earnings of Rs 0.16 a share.

In Brief

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