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 announced rise of 34.52% in standalone net profit on y-o-y basis to Rs 40.61 million, while total income rose 8.39% y-o-y basis to Rs 1.41 billion for the quarter ended March 2011.
Our daily Bank Nifty Strategy gets you daily profitable Bank Nifty call as we trade less but trade accurately.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
