The Pawan Ruia Group is reportedly in talks for buying auto component manufacturer, Autoline Industries. According to the deal, the Pune based company is valued at about INR 250 crores. In the fiscal year 2011, Autoline posted INR 660 crores in revenue. Meanwhile their market capital is about INR 160 crores.
The company’s largest customer for whom they produce CV body products, Tata Motors, accounts for 85% of their revenue. They also have a plot at Chakan, Maharashtra spread over 100 acres, that the company put for sale long ago. As of now, it’s not yet clear, if the Ruia Group deal will include the Chakan plot as well.
The Ruia Group, which owns Dunlop, Jessop and Falcon, began aggressively acquiring overseas auto parts manufacturers, some time back. So far, they have bought six such companies since 2008. Autoline and Ruia Group have reportedly refused to provide any information on this deal.