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MACHINIST - Dynamatic Acquires German & Indian Operations of Eisenwerke Erla GmbH

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Home arrow News arrow Auto component arrow Dynamatic Acquires German & Indian Operations of Eisenwerke Erla GmbH

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Dynamatic Acquires German & Indian Operations of Eisenwerke Erla GmbH
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Written by Arjun   
Friday, 03 June 2011

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Bangalore: Dynamatic Technologies has acquired the German and Indian operations of the Germany based automotive component manufacturer Eisenwerke Erla GmbH through its wholly owned subsidiary, JKM Erla Automotive Limited.

Eisenwerke Erla GmbH generates revenues in excess of Euro 100 million between its two units located in Germany and India. The Company is a preferred supplier to leading global automotive OEMs including Audi, BMW, Borg Warner Turbo Emission Systems, Volkswagen and Daimler.

This acquisition will not only grant Dynamatic access to marquee customers in the global Automotive and Turbocharger markets but will also enhance Dynamatic's design, development and manufacturing capabilities especially with respect to high precision, complex metallurgical products for automotive engines and turbochargers. Further, the acquisition of Eisenwerke Erla will grant Dynamatic ownership of one of the finest ferrous foundries in Europe, capable of manufacturing extremely intricate ferrous castings from difficult-to-cast materials.

On May 07, 2011, the Company had announced the demerger of the Automotive Business of Dynamatic Technologies into JKM ERLA Automotive Limited.

The Eisenwerke Erla site has been in business for over 630 years and has manufacturing facilities in Erla, Germany & Chennai, India.

Eisenwerk Erla produces and machines superior castings (in all modern iron casting alloys). The gamut ranges from large series automobile castings to complicated and core intensive components for mechanical engineering applications.

Eisenwerk Erla's customer base includes Borg Warner, IHI, Audi/ Volkswagen Group, BMW, Daimler Chrysler, Honeywell, MAN, MTU, Liebherr, Luk, etc.

The Sanmar Group had acquired the foundry in January 2007.

The financing for the transaction was advised and arranged by DBS Bank, India. The company didn't release financial details of the deal.

Dynamatic's Net sales have registered a growth of 12.8 % at Rs. 501.31 crores for the year ended 31 March 2011 from Rs. 444.45 crores last fiscal. PBT has registered a growth of 94.5% at Rs. 30.79 crores for the year ended 31 March 2011 from Rs. 15.83 crores last fiscal. EPS was up 106% at Rs. 40.03 lakhs for the year ended 31 March 2011 from Rs. 19.42 lakhs last fiscal. It's EBITDA has gone up from Rs 63.29 crores to Rs. 83.29 crores year on year.

Consolidated financials Q-o-Q

Net sales up 15 % from Rs. 118 crores to Rs 136.16 crores for the quarter ended 31 March 2011.
PBT up 210 % from Rs. 3.3415 crores to Rs. 10.454 crores.
EPS up 215 % from Rs. 4.85 lakhs to Rs. 15.28 lakhs.

Segment-wise revenue

The company's Hydraulics and Precision engineering segment registered a y-o-y revenue growth of 17 % at Rs.218.75 crores for the year ended 31 March 2011 from Rs. 186.34 crores last fiscal.

There was a 31 percent growth in revenue y-o-y, from the company's Aerospace activities. The revenues increased from Rs. 78.87 crores last fiscal to Rs. 103.37 crores in the year ended 31 March 2011.

It's Aluminium Castings business registered a y-o-y revenue growth of 50 percent from Rs. 2.38 crores to Rs. 3.58 crores for the year ended 31 March 2011.

It's Automotive business registered a marginal decline in revenue from on a y-o-y basis from Rs. 176.18 crores to Rs. 174.86 crores. However it registered a growth of 5 percent q-o-q, from Rs. 42.9 crores to Rs. 45.09 crores for the quarter ended 31 March 2011.

The company's 'research farm' registered a revenue of Rs 9.75 lakhs for the year ended 31 March 2011.

 
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