New Launch21 Jan 2025, 02:24 pm
Pritika Auto Industries Starts Commercial Production of New Components Worth Rs. 20 Crores Per Annum
AI Summary
Pritika Auto Industries Ltd, a leading manufacturer of precision machined components for tractors and Heavy Commercial Vehicles in India, has announced the start of commercial production of new components for a leading multinational Tractor Manufacturer in India. The order includes Case (Hyd. Cylinder), Bracket Top Link, Block (Hyd), and Tube Cylinder, with a total business value of approximately Rs. 20.00 Crores per annum. These orders have a long term visibility spanning to over next four to five years with volume of Rs. 80 Crores to 100 Crores. The company has also announced its expansion plans and debt reduction strategy.
Key Highlights
- Pritika Auto Industries starts commercial production of new components worth Rs. 20 Crores per annum.
- The new components include Case (Hyd. Cylinder), Bracket Top Link, Block (Hyd), and Tube Cylinder.
- The orders have a long term visibility spanning to over next four to five years with volume of Rs. 80 Crores to 100 Crores.
- The company has announced its expansion plans and debt reduction strategy.
- The tractor industry is expected to grow in double digits in H2FY25.