INVESTOR PRESENTATION

April 2015

Strictly Confidential
Overview

Founded 1985

Integrated auto and non-auto component manufacturer with operations across

Business
forging, iron casting, aluminium casting, machining and sub-assemblies

Auto: Passenger cars, 2/3 wheelers, Light and Heavy Commercial Vehicles
Segments
Non-Auto: Construction, Oil & Gas, Railways, Earth Moving and Agricultural

Manufacturing Facilities Facilities spread across India, Germany, Italy, UK, Brazil, Hungary, US and Mexico

BMW, BorgWarner, Caterpillar, CNH America, Cummins, Fiat, Ford, GM, Halliburton,
Key Customers
Hero, Honda, JCB, Maruti Suzuki, Tata JLR, Timken and Volkswagen

Listed Entities Amtek Auto, Amtek India, Ahmednagar Forgings and JMT Auto

Amtek Auto Consolidated Revenues Rs 47,882m (US$ 756m) Q1 FY2015 (3 Months ended Dec 31, 2014)

Amtek Auto Consolidated EBITDA(a) Robust margins of 21.4% Q1 FY2015 (3 Months ended Dec 31, 2014)

Note:
INR/USD exchange rate of 63.3315 as of December 31, 2014 sourced from www.rbi.org
(a) EBITDA is calculated as Profit before Tax and exceptional items + Depreciation and Amortization + Finance costs
2
Strictly Confidential
Simplified Organization Structure
Amtek Auto Limited
DIIs Others
Promoters Promoter 5.10% 10.77%
48.98%
48.98%
FIIs
Amtek Auto Limited 35.15%

Subsidiary Companies Joint Ventures and Associates

71.8% 49.0%
JMT Auto Ltd Amtek India Ltd

100% 100% 22.1%

100.0%
Amtek Defence 49.3%
Amtek Precision Amtek Kuepper Ahmednagar Forgings Ltd
Engineering Pte. GmbH
100.0% Amtek Transportation Ltd. Singapore 50.0%
Systems MPT Amtek
78.5%
70.0% 50.0%
Alliance Hydro Power Ltd Amtek Global 21.5% SMI Amtek
Technologies Pte. Ltd.,
Singapore

JMT Auto Amtek India Ahmednagar Forgings

DIIs Others DIIs Others DIIs
0.01% 10.32% 0.77% 12.17% 11.20% Others
FIIs FIIs
17.94% 31.50%
15.94%

Listed
Unlisted Promoter
Foreign Entity Promoter Promoter 54.16% FIIs
71.73% 71.12% 3.14%
3
Note: Shareholding break-up as of 31 Mar 2015 Strictly Confidential
Amtek Riken Casting Pvt Ltd is 50:50 joint venture between Amtek India Ltd. and Riken Corporation
FIIs stands for Foreign Institutional Investors; DIIs stands for Domestic Institutional Investors
KKR Transaction Structure
About KKR

KKR is a leading global investment firm that manages investments across multiple asset classes
including private equity, energy, infrastructure, real estate, credit and hedge funds

Transaction Structure

235million credit facility to Amtek Global Technologies (AGT)

Advantage to Amtek International

Long-term financing solution is significant milestone for Amtek's International business

Long-term, flexible financing to replace Amteks existing bridge loan and consolidate all of the
existing debt
Flexibility enables to further scale manufacturing platform and advance our global growth strategy to
the benefit of worldwide blue-chip customers and stakeholders
One-stop solution to consolidate our financing facilities across Amtek's international businesses.
Facility also acts as a catalyst to help integrate Amtek Auto's existing international operations under
the Singapore headquartered AGT
Support to achieve objectives of balance sheet consolidation, deleveraging and long-term growth

Financing is the beginning of a long-term partnership with KKR that will enable to develop new and
exciting opportunities in the automotive components market
4
Strictly Confidential
Revenue Transformation

$ 3,079m
Revenue Trends

$ 2,653m Rs. 195,000m

$ 2,549m
Rs. 157,067m Rs. 163,431m

$ 1,759m
$ 1,268m Rs. 105,726m
$ 851m Rs. 76,222m
Rs. 51,119m

FY11 FY12 FY13 FY14 FY14 Proforma FY15 Proforma

(15 months) Kuepper Annualized (TTM)

3.2% 6.4% 4.8%

13.0% 13.2% UK
20.5% Hungary
31.1% 10.3%
Revenue Breakdown

38.3% 0.4%
Germany
20.7%
87.0% 86.8%
76.3%
62.5% 56.9% Italy
India
6.9%
56.9%
US
2.2%
FY11 FY12 FY13 FY14 Q1 FY2015 Brazil
Mexico
(15 months) 2.2%
0.4%
India Europe Americas

Note:
Total Revenue includes Net Sales and Other Income
FY11, FY12 and FY14 represent 12 months period ended June 30, 2011, June 30, 2012 and September 2014 respectively; FY13 represents 15 months peri od ended September 30, 2013
FY14 Proforma Kuepper Annualized includes annualized 6 months financials for Kuepper
FY15 Proforma (TTM) represents 12 months period ended December 31, 2014 and includes proforma figures for three acquisitions currently being undertaken
For FY15 Proforma (TTM), INR/USD exchange rate of 63.3315 as of December 31, 2014 sourced from www.rbi.org
Q1 FY15 geographical revenue breakdown based on management summation of revenues by manufacturing site locations
5
Strictly Confidential
Geographic Presence

Germany

UK

Hungary

US Japan
Italy

India
Mexico

Singapore

Brazil

India Europe Asia ex. India Total Forging

Iron Casting
Global Head Office 1 1 Aluminium Casting
Machining and Sub-Assemblies
International Corporate Offices 1 1 2 Joint Ventures
International Corporate Office
Sales Office 1 1 Sales Office

6
Strictly Confidential
Business Overview

High value added, performance and safety critical components; High barriers to entry

Engineering, Industrial,
Forging Oil & Gas

Connecting Rod Super Finish Shaft Camshaft Wheel Hub

Railway Wagons,

Non Auto
Locomotive Engine
Components
Iron Casting

Tractors,
Cylinder Head Cylinder Block Turbo charger Front Axle
Construction and
Support
Earth Moving Equipment

Aluminium
Casting

Light and Heavy

Intake Manifold Clutch Case Cover Transmission Commercial Vehicles
Case

Machining and
Sub-Assemblies
2/3 Wheelers

Auto
FAB Assembly Gear Flywheel Crankshaft

Non Auto
Passenger Vehicles

Tank Car Crankcase Intermediate Crab Steel Cap

Piston

7
Strictly Confidential
Customers

Auto Sector Non - Auto Sector

Light Commercial Heavy Commercial
2/3 Wheelers Passenger Cars Vehicle Vehicle Others Tractors Railways Others

Top 5 customers by revenue

8
Note: In alphabetical order
Strictly Confidential
Highly Diversified Business Model

LCV/HCV
12.8% 2/3 Wheeler
By End Market

Non Auto
19.1% 8.2%

Diversification across all vehicle categories

Well balanced portfolio with non auto segment
Passenger
car
59.9%

Iron Casting Aluminum

12.5% Casting
Revenue Breakdown

Forging 4.6%
33.0%
By Process

Cutting-edge manufacturing processes and operations

Ability to supply fully integrated solutions for all
materials we manufacture

Machining
49.9%

Brazil Hungary
UK 5.0% 1.0% US
24.0% 5.0%
Mexico
By Geography

1.0%
International
Operations
Geographic mix aligned with high growth markets
43.1%
Global supplier for OEM and Tier-1 customers
Italy
16.0%
India Germany
56.9% 48.0%

Note:
Revenue split by geography based on Q1 FY15 numbers, Split by (end market and process) based on year ending FY2014 numbers
Geographical breakdown based on management summation of revenues by manufacturing site locations
9
Strictly Confidential
Strategic Transformation Through a Series of Acquisitions

Key Metrics FY12 FY14 Q1 FY15

US$ 3,079m*
Revenues US$ 1,268m US$ 2,549m
(Proforma TTM)

International Contribution 13.0% 37.5% 43.1%

Italy, Brazil, Hungary, US, Italy, Brazil, Hungary, US,

Countries Added
Mexico Mexico

New Delhi, Frankfurt and New Delhi, Frankfurt and

Head/International Offices New Delhi
Singapore Singapore

Sales Offices Japan Japan

Casting/Forging Capacity 645k Tonnes / annum 1,466k Tonnes / annum 1,466k Tonnes / annum

Machining Capacity 92m pieces / annum 320m pieces / annum 320m pieces / annum

Transformed into a global company for Forging, Casting, Machining & Sub-assemblies
Note:
FY12 is 12 months period ended June 30, 2012; FY14 represents year ended September 30, 2014
* FY15 Proforma (TTM) represents 12 months period ended December 31, 2014 and includes proforma figures for three acquisitions currently being undertaken
For Q1 FY15, INR/USD exchange rate of 63.3315 as of December 31, 2014 sourced from www.rbi.org
10
Strictly Confidential
Strategy

Target to be one of the top

Continue to grow the
automotive component
topline
companies by revenue

Complete the synergy plan

at Amtek Tekfor and Deleverage the balance
integrate Kuepper into the sheet
Amtek Group

To drive operational
excellence through Lean
Six-Sigma processes Key return ratios to be
across all countries under enhanced significantly
the Amtek Operating
System

11
Strictly Confidential
Industry Overview

CY2015 Global Passenger Car Sales Growth Forecast

6.5%
5.5%
4.6% 4.8%
4.2%
9-11%
3.7% 3.5% 3.4%

1.7%
1.2%

(1.4)%
Germany Italy UK Western United Mexico North India Asia Brazil South
Europe States America America

FY2016 Indian Automotive Production Growth Forecast

22.0%

15.0%

5.5% 6.5%
4.0% 3.5%
1.5%

Passenger Cars Utility Vehicles Passenger Vehicles M&HCVs LCV Commercial Vehicles 2 Wheelers

Source: India Ratings & Research Jan 2015, Scotiabank Global Auto Report Feb 2015, IHS Automotive, Studio Promotor (Italian automotive research group)
Notes: FY2016 represents Year ending March 2016; CY2015 represents Year ending December 2015
M&HCV = Medium and heavy commercial vehicles; LCV = Light commercial vehicles
For United States, Mexico and North America, estimate includes Light Trucks

12
Strictly Confidential
Financial Metrics: Amtek Auto

Revenue and Growth

US$ 2,653m
US$ 2,549m Rs 163,431m
Rs 157,066m

US$ 1,759m 65,406

Rs 105,726m 59,042

US$ 1,268m
Rs 76,222m 25,039
US$ 851m US$ 756m
Rs 51,119m 9,910 Rs 47,882m

6,647 98,025 98,025

80,687 20,795
66,312
44,472
27,087

FY11 FY12 FY13 FY14 FY14 Proforma Q1 FY2015

(15 months) Kuepper Annualized

India International

Note:
Total Revenue includes Net Sales and Other Income
FY11 & FY12 represent 12 months period ended June 30, 2011 & June 30, 2012 respectively; FY13 represents 15 months period ended September 30, 2013; FY14 represents year ended September 30, 2014
FY14 Proforma Kuepper Annualized includes annualized 6 months financials for Kuepper
For Q1 FY15, INR/USD exchange rate of 63.3315 as of December 31, 2014 sourced from www.rbi.org
13
Strictly Confidential
Financial Metrics: Amtek Auto

EBITDA(a) and Margins

US$ 560m US$ 573m

Rs 34,523m Rs 35,293m
US$ 413m
Rs 24,839m
26.6%
6,014 6,784
25.5% 21.4%
US$ 338m 23.5%
Rs 20,301m 1,130 22.0%
21.6%
US$ 217m 1,050 US$ 162m
Rs 13,054m Rs 10,237m
28,509 28,509
676 23,709
19,251 2,122
12,378
8,115

FY11 FY12 FY13 FY14 FY14 Proforma Q1 FY2015

(15 months) Kuepper Annualized

India International Margin

Note:
EBITDA includes Other Income
(a) EBITDA is calculated as Profit before Tax and exceptional items + Depreciation and Amortization + Finance costs
FY11 & FY12 represent 12 months period ended June 30, 2011 & June 30, 2012 respectively; FY13 represents 15 months period ended September 30, 2013; FY14 represents year ended September 30, 2014
FY14 Proforma Kuepper Annualized includes annualized 6 months financials for Kuepper
For Q1 FY15, INR/USD exchange rate of 63.3315 as of December 31, 2014 sourced from www.rbi.org
14
Strictly Confidential
Financial Metrics: Amtek Auto

Net Profit(a) and Margins

9.1%

6.3% 6.0%
5.2%
US$ 116m
US$ 153m 3.6%
Rs 6,974m Rs. 9,411m US$ 153m
US$ 116m US$ 92m
Rs. 6,974m US$ 92m Rs 9,411m
US$ 54m Rs 5,527m US$ 2.7m
Rs. 5,527m US$92m Rs. 1,719m
Rs54m
US$ 3,226m
US$54m US$116m
Rs. 3,226m
Rs 3,226m Rs 6,974m Rs 5,527m

FY11 FY12 FY13 FY14 Q1 FY2015

(15 months)

Earnings Per Share (Rs.)

39.33

27.27
23.63
21.10

10.22
7.03

FY11 FY12 FY13 FY14 Q1 FY15 Q1 FY15

Note:
(a) Before Minority Interest and Income from associates
Normalized
FY11 & FY12 represent 12 months period ended June 30, 2011 & June 30, 2012 respectively; FY13 represents 15 months period ended September 30, 2013; FY14 represents year ended September 30, 2014
For Q1 FY15, INR/USD exchange rate of 63.3315 as of December 31, 2014 sourced from www.rbi.org
Q1 FY15 Normalized EPS is adjusted for one time charges relating to interest and tax; it does not incorporate the change in depreciation as per the New Companies Act, 2013
15
Strictly Confidential
Financial Metrics: Amtek Auto

Balance Sheet
FY13 FY14
(Rs. m) (US$ m) (Rs. m) (US$ m)
Long Term Borrowings 110,353 1,836 114,809 1,863
Short Term Borrowings 30,976 515 36,883 599
Current maturity of Long Term Borrowings (e) 10,917 182 24,917 404
Total Debt 152,246 2,533 176,609 2,866
Cash & Cash Equivalents (Incl Current Investments) (19,371) (322) (11,534) (187)
Net Debt(a) 132,875 2,211 165,075 2,679
Shareholders Funds (including Minority Interest) 80,653 1,342 90,329 1,466
Net Debt(a)/Equity 1.65x 1.65x 1.83x 1.83x
Net Debt/EBITDA(b) 5.3x 5.3x 4.8x 4.8x

Net Debt/EBITDA(b) Return Metrics: Pre-Tax ROCE(c) Return Metrics: ROE(d)

5.3x 10.0% 10.2%

9.7% 9.4%
4.8x 4.7x
7.8% 7.8%
3.8x 3.8x
5.7%
4.5%

FY2011 FY2012 FY2013 FY2014 FY2014 FY2011 FY2012 FY2013 FY2014 FY2011 FY2012 FY2013 FY2014
Note: Proforma
For FY14 & FY13, INR/USD exchange rate of 61.6135 and 60.10 respectively, sourced from www.rbi.org
FY11 & FY12 represent 12 months period ended June 30, 2011 & June 30, 2012 respectively; FY13 represents 15 months period ended September 30, 2013; FY14 represents year ended September 30, 2014
(a) Net Debt is calculated as Total Debt (Long Term Borrowings+ Short Term Borrowings + Current maturity of Long Term Debt due)-Current Investments-Cash and Equivalents
(b) EBITDA is calculated as Profit before Tax and exceptional items + Depreciation and Amortization + Finance Costs, FY2014 Proforma represents annualized 6 months financials for Kuepper
(c) Pre-Tax ROCE is calculated as EBIT / (Total Debt + Shareholders Funds); EBIT is defined as Revenue-Cost of material - Changes in inventories/WIP and stock-in-trade - Employee Benefit Expense - D&A - Other expenses
(d) ROE is calculated as Profit after Tax and Minority Interests / Shareholders Funds
(e) Includes current payments due of Finance Lease Obligations
16
Strictly Confidential
Disclaimer

By attending the meeting where this presentation is made, or by reading the presentation materials, you agree to be bound by the following limitations:
The information in this presentation has been prepared for use in presentations about Amtek Auto Limited, its subsidiaries, joint ventures and associates, as the context
may so require (Amtek) and does not constitute a recommendation regarding the securities of Amtek. This presentation is confidential and must not be taken away,
copied, reproduced, distributed or passed (in whole or in part), directly or indirectly, to any other person (whether within or outside your organisation or firm), or published
in whole or in part, for any purpose, at any time without prior consent from Amtek. This presentation is only being made available to parties who hereby agree to treat it as
confidential and not to disclose any information contained herein. By attending the meeting where this presentation is made, or by reading the presentation slides, you
agree to be bound by the following limitations and represent that you are a person who is permitted under applicable law and regulations to receive information contained
in this presentation.
No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the
information, or opinions contained herein. Such information and opinions are in all events not current after the date of this presentation. Neither Amtek nor any of its
affiliates, advisors or representatives shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this
presentation or its contents or otherwise arising in connection with this presentation. The information set out herein may be subject to updating, completion, revision,
verification and amendment and such information may change materially. This presentation is based on the economic, regulatory, market and other conditions as in effect
on the date hereof. It should be understood that subsequent developments may affect the information contained in this presentation, which neither Amtek nor its affiliates,
advisors or representatives are under an obligation to update, revise or affirm.
The information communicated in this presentation contains certain statements that reflect Amteks beliefs, plans and expectations about the future and are or may be
forward looking. These statements typically contain words such as will, expects, plans and anticipates and words of similar import. These forward-looking statements
are based on managements current expectations or beliefs as well as a number of assumptions about Amteks operations and beyond Amteks control which are
expressed in good faith and in their opinion reasonable, and by their nature forward looking statements involve risk and uncertainty because they relate to events and
depend on circumstances that will occur in the future. Any investment in securities issued by Amtek will also involve certain risks. There may be additional material risks
that are currently not considered to be material or of which Amtek and its advisors or representatives are unaware. Against the background of these uncertainties, readers
should not rely on these forward-looking statements. Amtek assumes no responsibility to update forward-looking statements or to adapt them to future events or
developments.
This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person and
may be altered, modified or otherwise changed in any manner, without obligation to notify any person of such change or changes.
This presentation and the information contained herein does not constitute or form part of any offer or advertisement, for sale or subscription of or solicitation or invitation
of any offer to buy or subscribe for any securities of Amtek. This presentation and the information contained herein is being furnished to you solely for your information and
may not be reproduced or redistributed to any other person, in whole or in part. In particular, neither the information contained in this presentation nor any copy hereof may
be, directly or indirectly, taken or transmitted into or distributed in the U.S., Canada, Australia, Japan or any other jurisdiction which prohibits the same except in
compliance with applicable securities laws. Any failure to comply with this restriction may constitute a violation of the United States or other national securities laws. No
money, securities or other consideration is being solicited, and, if sent in response to this presentation or the information contained herein, will not be accepted.
This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner. This presentation is not intended to be a prospectus (as
defined under the Companies Act, 2013, to the extent notified and in force) or an offer document under the Securities and Exchange Board of India (Issue of Capital and
Disclosure Requirements) Regulations, 2009 as amended.
By reviewing this presentation, you are deemed to have represented and agreed that you and any customers you represent are either (a) qualified institutional buyers
(within the meaning of Regulation 144A under the Securities Act), or (b) not a U.S. person and are outside of the United States and not acting for the account or benefit of
a U.S. person (as defined in Regulation S under the Securities Act).
17
Strictly Confidential
 18
Strictly Confidential