Sansera Engineering stock zooms 5% post winning Rs50.8 crore repeat order from North America

29 Aug 2022 , 01:34 PM

Sansera Engineering Limited informed on Monday that it has received order confirmation for three components from a marquee North American manufacturer of EV passenger cars. 

These parts are precision forged and machined components for the passenger vehicles. The annual value of these orders is approximately Rs50.8 crore(based on current forex rate). After successful trials, the mass production of these auto parts will commence during FY24, the company said.

Earlier, the Company has been awarded an order worth Rs49.7 crore from the same client and with award of the new orders, the annual order book with this customer has crossed over Rs1,00 crore.

Commenting on this achievement, B R Preetham Group CEO, Sansera Engineering Limited said: “This is a strategic order win will help us in our product portfolio expansion in the EV space. Given that it is a repeat order from such a marquee player in the EV segment, demonstrates enhancement of our comprehensive capabilities in EV space.”

At around 1:35 PM, Sansera Engineering was trading at Rs711.35 per share higher by 4.90% on the BSE.

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