DSIJ Mindshare

Country’s second largest AMC reported strong performance in its quarterly performance for the quarter ended June 2018. The bottom-line grew substantially to Rs. 204 crore.

The company has bagged an export order of 76,000 truck wheels from the US truck and trailer aftermarket.

EBITDA for the quarter rose by 26.3 per cent yoy to Rs. 26.34 crore with a corresponding margin expansion of 282 bps. EBITDA margin for the quarter stood at 85.1 per cent. TICL functions on an invest and hold business model that has hardly any operating expenses and thus exceptional margins. The PAT for the quarter came in at Rs. 22.48 crore, yoy increase of 25 per cent.

Force Motors, the maker of light and heavy commercial vehicles, has entered into an agreement to acquire manufacturing plant of the German automaker Volkswagen Group's MAN Trucks.

Indian benchmark indices opened flat to negative on weak global cues and lower rupee. The Indian rupee down all-time low at Rs. 70.17 per dollar.