Sansera Engineering rose 1.61% to Rs 689.05 after the company said it won over Rs 50.8 crore repeat order from a marquee North American manufacturer of EV passenger cars.
Sansera has received order confirmation for three components from a marquee North American manufacturer of EV passenger cars. These are precision forged and machined components for the passenger vehicles. The annual value of these orders is approximately Rs 50.8 crore (based on current forex rate). As indicated by the customer, after successful trials, the mass production of these parts will commence during FY24.Earlier, we have also been awarded an order worth Rs 49.7 crore from the same customer. With award of the new orders, the annual order book with this customer has crossed Rs 100 crore.
Commenting on this achievement, B R Preetham Group CEO, Sansera Engineering said: "I am very delighted to announce receipt of these orders for precision forged and machined components for PVs. This is a strategic win for us, helping 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 space, demonstrates enhancement of our comprehensive capabilities in this segment.
We see strong growth opportunities in the new technologies, and we are committed to grow in this area. These orders would contribute towards our growth in the technology agnostic products and unfold more opportunities in this area."
Sansera Engineering is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors.
On a consolidated basis, net profit of Sansera Engineering rose 82.70% to Rs 34.11 crore on 36.25% rise in net sales to Rs 530.74 crore in Q1 June 2022 over Q1 June 2021.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content