"The various options include a minority stake-sale of upto 25-40 percent in overseas business. During the process, the company have received a large number of enquirers for the outright purchase of a couple of the company's overseas businesses which include for instance Tekfor group.
The interest for this has come from trade players and FINANCIAL players around the globe. As mentioned there are several options and it is a matter of right value-opportunity that will determine the eventual decision," it explained. So far it has not yet announced its September quarter earnings after reporting huge loss for the first time in preceding quarter.
The debt-ridden Amtek Auto had reported a loss of Rs 157.6 crore in June quarter against profit of Rs 129.82 crore in March quarter and profit of Rs 86.08 crore in year-ago period due to weak European operations.
Revenue in June quarter fell 18.6 percent to Rs 866.32 crore from Rs 1,064.4 crore year-on-year. The STOCK has fallen 82 percent to hit lowest point of the year at Rs 27.35 after weak June quarter earnings but managed to recover after announcement of debt reduction on November 2. As of March 2015, it has debt of Rs 15,169.25 crore on consolidated basis against Rs 14,132.91 crore in previous year. At 09:32 hours IST, the scrip of Amtek Auto was quoting at Rs 45.20, up Rs 2.15, or 4.99 percent on the BSE.
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