Stakeholders’ Education | Corporate Governance Research | Corporate Governance Score | Proxy Advisory STAKEHOLDERS EMPOWERMENT SERVICES 1 | P AGE SECTOR: AUTO REPORTING DATE: 29 TH NOVEMBER, 2017 CASTEX TECNOLOGIES LTD www.amtek.com Castex Technologies Ltd NSE Code - CASTEXTECH TABLE 1 - MARKET DATA (STANDALONE) (AS ON 28 TH NOVEMBER, 2017) Sector - Auto Ancillaries NSE Market Price (`) 5.25 NSE Market Cap. (₹ Cr.) 195.49 Face Value (`) 2.00 Equity (` Cr.) 75.62 Business Group - Amtek Group 52 week High/Low (₹) 11.00/4.75 Net worth (₹ Cr.)* 1,004.81 Year of Incorporation - 1983 TTM P/E (TTM) N.A. Traded Volume (Shares) 16,80,156 TTM P/BV 0.11 Traded Volume (lacs) 88.21 Registered Office - Source - Capitaline, TTM - Trailing Twelve Months, N.A. - Not Applicable,* As on 30 th Sept 2017 Village Narsinghpur, COMPANY BACKGROUND Old Manesar Road, Castex Technologies Limited, formerly Amtek India Limited, is an India-based iron casting company. The Company's principal activity is motor vehicle parts and accessory manufacturing service. The Company offers a range of engineered components, including cylinder head, cylinder blocks and turbo charger housing. The Company's product portfolio consists of a range of components for 2/3 wheelers, cars, tractors, light commercial vehicles (LCV), heavy commercial vehicles (HCV) and stationary engines. The Company's ring gears include flywheel ring gears, machining, forging, casting aluminum, such as high-performance parallel and distributed computing (HPDC), and gravity die casting (GDC), and casting iron (HPDC & GDC). The Company's flying ring gears manufacturing facility is engaged in the machining of a range of large and medium sized automotive components. The Company offers its services to automotive and nonautomotive component sectors. The Company's subsidiary is Amtek Kupper GmbH. Gurgaon – 123106, Haryana Company Website: www.amtek.com Revenue and Profit Performance The revenue of the Company decreased from ₹ 403.73 crores to ₹ 150.97 crores from quarter ending Sep’16 to quarter ending Sep’17. The Company made a loss of ₹ 322.05 crores in quarter ending Sep’17 vis-a-vis making a loss of ₹ 531.35 crores in quarter ending Sep’16. Source: Moneycontrol Performance vis-à-vis Market TABLE 2- Returns 1-m 3-m 6-m 12-m Castex Technologies Ltd -1.92% -11.76% -30.14% -44.86% Nifty 0.06% 3.82% 7.42% 27.35% NIFTY AUTO -0.18% 5.11% 4.24% 26.54% Source - Capitaline/NSE 150.97 277.56 403.73 -322.05 -201.70 -531.35 -1,000 -500 0 500 Sep'17 Mar'17 Sep'16 Quarterly revenue and Profit (₹ CRORE) Revenue Profit 0.00 0.50 1.00 1.50 Dec 16 Feb 17 Apr 17 Jun 17 Aug 17 Oct 17 Castex Technologies Ltd NIFTY NIFTY AUTO
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STAKEHOLDERS EMPOWERMENT SERVICES … Group - Amtek Group 52 week High/Low ... cylinder blocks and turbo charger housing. ... orporate Governance Research | orporate Governance Score
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Total Assets 8,654.91 8,922.46 8,834.15 -3.00% 1.00%
Investments 568.35 568.35 565.14 0.00% 0.57%
Finance Cost 218.31 203.90 198.07 7.07% 2.94%
Long Term Liabilities 160.65 159.58 3,923.47 0.67% -95.93%
Current Liabilities 7,489.44 6,992.79 2,802.16 7.10% 149.55%
Turnover 150.97 277.56 396.79 -45.61% -30.05%
Profit After Tax -322.05 -201.70 -531.35 N.A. N.A.
EPS (₹) -8.52 -5.33 -14.05 N.A. N.A.
Source - Money Control/Stock exchange filing
AUDIT QUALIFICATIONS
Audit Qualifications in last 3 years: The Auditors have not made any qualified opinion for FY 2015-16 & FY 2014-15. However,
the Auditors have made qualified opinion for the Financial year 2016-17.
Basis for qualified opinion
As explained in note no. 3.12 to the standalone Ind AS financial statements regarding inventories not moved for last over one year amounting to ₹ 38,550.68 Lakhs. Since the company has not obtained any technical / market / commercial evaluation for the same, we are unable to comment on the realizable value of the same, which may be lower than the amount at which it has been reflected in the balance sheet.
Management Response: The Management has not responded on the Qualified Opinion made by the Auditors for FY 2016-17.
Response Comment
Frequency of Qualifications NA
Have the auditors made any adverse remark in last 3 years? No
Are the material accounts audited by the Principal Auditors? Yes -
Do the financial statements include material unaudited financial statements? No -
Only publicly available data has been used while making the factsheet. Our data sources include: BSE, NSE, SEBI, Capitaline, Moneycontrol, Businessweek, Reuters, Annual Reports, IPO Documents and Company Website.
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