Pritika Auto Industries expands client-base with addition of new customer; stock gains 2%

The OEM has given an order visibility of about Rs24cr over one year for machined castings.

Feb 16, 2021 11:02 IST India Infoline News Service

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Pritika Auto Industries Limited, a pioneer and among leading players in manufacturing world class auto components in India has announced that the Company has won a new client in the domestic market.

The Company expands its client-base with a prestigious manufacturer of tractors in India. The OEM has given an order visibility of about Rs24cr over one year for machined castings. The order would primarily cater to the Northern regions of India. This reflects the confidence that Pritika Auto Industries commands from leading OEMs across India. This addition would increase the Company’s share in the domestic market.

Commenting on the market outlook, Harpreet S. Nibber, Managing Director, Pritika Auto Industries Limited said, “We are happy to announce the addition of a prestigious new client in our customer-base. The client is a leading manufacturer of tractors in India. We have an order visibility of about Rs24crore over one year for machined castings from this manufacturer. This development reflects the recognition that Pritika Auto has earned among leading OEMs across India, as a manufacturer of quality products.

The order will primarily cater to the Northern regions of India, and we expect it to further expand our market share, making us the supplier of choice for all OEMs across the nation. With a widespread and sufficient monsoon and healthy agriculture sector, we see this as one of many milestones in our growth path to future. We are ready and poised for such growth opportunities in terms of capacity and resources.

We continually strive to build further on our reputation of being quality manufacturers as well as efficient and fast executors of new and incremental demand. | thank the entire team of ‘Pritika’ for their untiring efforts, hard work, sincerity and dedication in making this happen.”

Pritika Auto Industries Ltd is currently trading at Rs97.45 per piece up by Rs2.15 or 2.26% from its previous closing of Rs95.30 per piece on the BSE, at around 11:50 PM

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