Sansera Engineering wins Rs3,066 crore order from North American OEM; Stock soars 3.5%

28 Apr 2022 , 10:25 AM

Sansera Engineering Ltd has been awarded a contract for development, manufacturing and supply of connecting rods from a leading North American OEM for its upcoming project. The start of production would be from July 2025 and is expected to run over seven years. The approximate quantity for the contract is over 35 million connecting rods with an estimated revenue of over USD 400 million (Rs3,066 crore based on current forex rate).

These parts would be developed for the customer’s new technology engine and are likely to be supplied to North America.

Commenting on this achievement, B R Preetham Group CEO, Sansera Engineering Limited said, “Over the last three decades, Sansera has established itself amongst top 10 suppliers of connecting rods globally (as per Ricardo report). We are proud to support our customer for this order.

Being one of the most integral parts in an engine's design, connecting rod will be a very critical component for our customer’s new technology engine. Our team of design experts will be closely working with the customer’s team to develop the connecting rods required for this project.

We have already been supplying components to multiple locations of this customer for several years. This ~Rs3,000 crore order further strengthens our relationship with them.

This order is in-line with the company’s strategy to consolidate and strengthen global market share in existing portfolio.”

At around 9:56 AM, Sansera Engineering was trading at Rs790.05 per piece higher by 3.52% on the BSE.