Talbros Automotive extended its gains from the previous session, jumping 16.4 percent in the morning trade on November 21 after the company has received Rs 580 crore worth of orders from international and domestic customers.
The orders received are across its business divisions, including export orders of Rs 415 crore and multiple EV orders for Rs 270 crore from leading original equipment manufacturers (OEMs).
At 10.57 am, the stock was trading at Rs 325 on the NSE, higher by 15.37 percent from the previous session’s closing price. However, over the past two sessions, from the closing price of November 17 to the intraday high, Talbros Automotive’s has gained 40 percent.
“These orders are to be executed over a period of next five years commencing from FY25 onwards covering the company's product lines – gaskets, heat shields,forgings, chassis and rubber hoses,” Talbros Automotive said in a regulatory filing.
The company received orders for forging products for applications such as transmission, engines, driveline and off-highway for Rs 120 crore. It also bagged orders worth around Rs 75 crore for the heat shield products from multiple domestic OEMs. These orders span across new technologies in the heat shield space.
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Domestic and export OEM customers placed orders worth Rs 40 crore for gasket products with Talbros Automotive.
The company also got an order of over Rs 75 crore from a leading domestic OEM for products such as muffler hanger, damper front and hose canister air suction. The order came through its joint venture, Talbros Marugo Rubber. All the orders will span over five years.
“These orders will help the company increase its share with existing customers and new customers across geographies which will help the company grow and gain market share domestically and in the export market in the coming years. This also leads to improving margins,” Talbros Automotive said.
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