Federal Mogul

Though the topline come in flat, for Q1FY1&, thanks to a healthy fall in total costs, reduction in interest outgo and higher other income, Federal Mogul Goetze posted a 70% (YoY) jump up in net profit at Rs.17 crore. Net sales was flat at Rs.332 crore. Total costs were down 2%, where raw material costs were down 16%. Interest outgo was down 37%.

The company is pretty equity heavy at Rs.55.63 crore. Reserve is at Rs.435 crore. EPS stands at Rs.3. The company makes piston and piston rings used by automobile sector and is a market leader both in OEM and aftermarket. It has facilities at  Bengaluru, Patiala and Bhiwadi.

The German parent, Federal Mogul holds 14.93% and its holding company has 60.05% stake, taking the total promoters stake to 74.98%. Goetze is the technical collaborator.