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Automotive Stampings and Assemblies Limited
Sector:Engineering Engineering - Machine Tools
BSE:520119NSE:ASALBloomberg:ATSA@INReuters:ASAS.BO
Market Lot: 1Face Value: 10ISIN Demat: INE900C01027
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28-Oct-2016
Business Profile
Automotive Stampings and Assemblies (ASAL), a Tata group company, is a manufacturer of automotive sheet metal components and welded assemblies. It was incorporated on Mar. 13, 1990.

The ISO/TS 16949 certified company offers skin parts of cars like panels; body in white components like door inners, panel dash, and bonnet inners; under body members like supports and cross links; fuel tanks; chassis and suspension parts including trailing arms; wheel housing; oil sumps; and other products like tail lamp covers, supports and reinforcement parts. The company has two manufacturing plants near Pune in Maharashtra and one near Vadodara in Gujarat with a total capability of 30,000 tons of components and assemblies per year. After completing the first phase of expansion at the Chakan plant near Pune in 2006, the company increased the plant`s capacity by 23% and planned a further expansion with an estimated outlay of INR 211 million. It is in the process of setting up a fourth plant in Pantnagar, Uttarakhand with an estimated outlay of INR 481 million primarily to cater to the ACE program of Tata Motors.

In FY07, Gestamp Servicios, S.L. (Spain) entered into a share purchase agreement with the promoters of the company, Tata AutoComp Systems (TACO), wherein it would acquire 37.5% of the paid-up equity share capital of the company. After the sale of shares, the company would become a joint venture company of TACO and has planned to enter into a technology transfer and technical assistance agreement with Gestamp Servicios to build and expand sheet metal stamping capabilities. The company caters to automotive manufacturers such as Tata Motors, Fiat India, Mahindra & Mahindra, L&T John Deere, and General Motors India to name a few.

The registered office of the company is located at G 71/2, MIDC Industrial Area, Bhosari, Pune-411026.


Financials
The company reported rise of 31.36% in standalone net profit on y-o-y basis to Rs 44.44 million, while total income rose 21.74% y-o-y basis to Rs 881.63 million for the quarter ended September 2016.

Recent Developments
17-JUL-13
Automotive Stampings and Assemblies announced that the company's workers at Pantnagar plant have now resumed their duties and the manufacturing operations at the plant have normalized.

17-JUN-13
Automotive Stampings and Assemblies said on Monday that its 23th annual general meeting (AGM) will be held on Friday, Jul. 19, 2013.

23-OCT-09
Automotive Stampings and Assemblies (Automotive Stampings) today said that the company has approved the rights issue of its equity shares to its existing shareholders.



In Brief

 
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