Talbros Automotive bags multi-year orders worth Rs 400 crore; stock hits 52-week high

7 Jul 2023 , 02:25 PM

Talbros Automotive Limited informed that the company has received multi-year contracts worth Rs 400 crore from both domestic and overseas customers across the company’s product lines heat shields, forgings, gaskets, and chassis.

Following this development, the counter skyrocketed to a 52-week high of Rs 832.

At around 2.20 PM, Talbros Automotive was trading 13.75% higher at Rs 824.30, against the previous close of Rs 724.65 on NSE.

The company is expected to execute these orders within a period of 5-7 years.

Talbros said that it received an order from a leading established export OEM for the body of an Electric Vehicle. The said order is valued at Rs 165 crore and expands for a period of 5 years. The company has received this order via Joint Venture Marelli Talbros Chassis Systems Pvt. Ltd.

The company has further received orders for Forgings products such as Gear Planet, Ring Gear, Brake Pistone, Spacer, Cover King Pin, Planetary Gear, and others from export customers. The contract is valued at over Rs 50 crore and shall extend for 5 years.

Additionally, Talbros secured a contract worth Rs 65 crore for heat shield products from various domestic OEMs. The orders span over a period of 5 years. These orders spread across new technologies in the heat shield space.

The company secured orders totaling approx. Rs 120 crore for gasket products from both domestic and export original equipment manufacturer (OEM) customers. These orders spread over a period of five years.

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