Pritika Group Starts Commercial Production of New Components Worth Rs. 18 Crores Per Annum

Pritika Group, a leading manufacturer of precision machined components for the tractor 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 components, including Hydraulic Lift Housing and Axle Housing, are expected to generate a business value of approximately Rs. 18.00 Crores per annum with a long term visibility of over four to five years. The Group, which has been in operation for almost 50 years, has a strong presence across India and long-standing relations with major OEM clients such as Escorts Kubota Ltd., Tractor & Farm Equipment Ltd., Mahindra & Mahindra Ltd., Ashok Leyland Ltd., Mahindra Swaraj, Swaraj Engines Ltd., Tafe Motors & Tractors Ltd. (Eicher Tractors), Brakes India Ltd., SML ISUZU Ltd., Knott — Vortex Pvt. Ltd., CNH Industrial (India) Pvt. Ltd. (New Holland Tractors), and International Tractors Ltd. (Sonalika). Pritika Auto Industries Ltd., a subsidiary of Pritika Group, recently announced the issuance of right shares to fund its expansion plans and reduce its debt. Pritika Engineering Components Limited, another subsidiary, also announced the issuance of right shares for the same purpose.