Comments
Pritika Auto Industries Ltd has commenced commercial production of two critical tractor component parts - Hydraulic Lift Housing and Axle Housing - for a leading multinational tractor manufacturer, the company announced on Wednesday.
The shares of Pritika Auto Industries Ltd were trading at ₹26.90, up by ₹0.03 or 0.11 per cent on the NSE today at 12:05 pm.
The new order is valued at approximately ₹18 crore annually, with a promising long-term contract spanning four to five years. This development comes as the tractor industry shows potential for growth, with one major OEM projecting double-digit expansion in the second half of the fiscal year 2025.
The company, celebrating its 50th anniversary, has a robust client portfolio including Escorts Kubota, Mahindra & Mahindra, Ashok Leyland, and CNH Industrial, among others. Recently, Pritika has raised capital through preferential and rights issues to fund expansion plans, with both Pritika Auto Industries and its subsidiary Pritika Engineering Components issuing rights shares of ₹49.90 crore each.
CARE Ratings has maintained a stable credit rating for the company, underscoring its financial stability. The new component production order reinforces Pritika’s position as a leading precision machined components manufacturer in North India’s automotive sector.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.