Atul Auto Looking For Acquisitions For Expansion Plans
Atul Auto Ltd is looking for an acquistion as part of its expansion plans.
It also plans to invest around Rs.30 Cr to more than double its Rajkot facility to 48,000 units p.a.
Last year, it had invested Rs.30 Cr in Rajkot plant for technological upgradation.
Transaction Reference: BS
Atul produces 3 –wheelers under the brand names, Shakti & Gem.
Atul Auto posted 20 times rise in net profit for Q1 2011 to Rs.2.1 Cr on the back of its newly launches product the Atul Gem.
Sales during the period also increased two-folds to 3,844 units from 1,867 units in the comparable period last financial year.
Auto and auto components space has seen some M&A deals in last few months.
Ruia group recently acquired German-based tyre and auto component maker Gumasol-Werke Dr. Mayer GmbH & Co. KG through its German SPV - Gumasol Rubber Tec and Ashok Leyland acquired 26% stake UK based bus manufacturer - Optare Plc.
M&M is planning to buy 74% stake in PSU-Scooters India Ltd (SIL), while Mitsubishi Motors is planning to buy stake in Hindustan Motors.
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