Talbros Automotive secures multi-year orders worth Rs 420 crore; stock surges over 5%

2 Dec 2022 , 02:53 PM

Talbros Automotive Components has bagged new multi years orders worth Rs420 crore from both domestic and overseas customers across its business divisions, product segments, and JVs.

The company has agreed to execute these orders over a period of 5 years covering the company’s product lines — gaskets, heat shields, forgings, and chassis.

“These orders will help us increase market share among existing and new customers across geographies, allowing us to expand and gain market share in the coming years,” said the company in its press release.

Talbros has received orders for over Rs160 crore in Electric Vehicles (EV) from a leading established domestic OEM to be executed over a 5-year period.

Further, it informed that orders for multiple auto parts for multiple applications were also received from new customers. It also received orders from new OEM customers in the non-automotive segment for export markets.

These orders cover a wide range of new technologies, including heat shields, for which Talbros has secured new customers in the domestic PV space as well as exports.

Talbros Automotive Components was trading at Rs487 up by 5.26% from its previous closing of Rs462.65 on the BSE. The scrip touched intraday high and low of Rs501 and Rs484 respectively.

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