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Delhi-based, publicly-listed, auto component maker Talbros Auto Comp Ltd (TACL) is looking for private equity funding to bankroll its expansion plans, according to The Economic Times. Talbros, set up in 1956, manufactures gaskets, steering and suspension components, stampings and forgings for auto manufacturers. It has a tie up with US-based Federal Mogul for gasket manufacturing, a technical collaboration with Presswerk Krefeld Gmbh (PWK) of Germany for manufacturing of forged components with a buy back agreement, and a JV with Japan's Nippon for manufacturing gaskets.

TACL has manufacturing plants in Faridabad, Chennai, Pune, Gurgaon, Bawal and Sohna ( Haryana). The Talbros Group also has dealerships for DailmlerChrysler and General Motors for passenger cars.

The company plans to raise about $10 million from PE funds by diluting about 15-16 per cent stake, the group CFO Navin Juneja has been quoted as saying by ET.

TACL is also looking to raise capital for its joint venture with Nippon Corp, in which it has a 40 per cent stake. The company, Nippon Leakless Talbros, is setting up a plant in Uttrakhand. Talbros is also looking at making some acquisitions, especially in Europe.

TACL's total income in Q1 2007-08 grew by 31 per cent to Rs. 46.60 crore from Rs 35.44 crore in the same quarter last year. EBIDTA in Q1 this year rose 66 per cent to Rs. 6.03 crores as against Rs. 3.62 crore during the same period last year. The net profits have grown by 33.6 per cent from to Rs. 1.66 crore to Rs. 2.22 crore in the quarter ended June 30, 2007.

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