Shares of Talbros Automotive Component surged 12 percent in morning trading on July 7 after the company received new multi-year orders worth approximately Rs 400 crore, reaching a fresh 52-week high of Rs 826.35.
At 12.21 pm, the stock was trading at Rs 811.30 on the National Stock Exchange, up 11.92 percent from the previous close. Over the past 6 months, the stock of this auto components and equipment company has surged by 54 percent.
Talbros Automotive stated that it has received orders from both domestic and overseas customers. These orders include multi-year supply contracts worth Rs 205 crore from electric vehicle original equipment manufacturers (OEMs). The orders are expected to be executed over the next 5-7 years and will cover the company's product line of gaskets, heat shields, forgings, and chassis.
Furthermore, the company has secured a five-year supply contract worth over Rs 165 crore from a leading export-market-focused EV manufacturer. This order is through its joint venture, Marelli Talbros Chassis Systems Pvt. Ltd.
Additionally, the company has received orders for Forgings products, such as ring gear, gear planet, spacer, brake pistone, cover king pin, planetary gear, and more, from export customers, amounting to over Rs 50 crore over 5 years. It has also obtained orders worth approximately Rs 65 crore over 5 years for heat shield products from multiple domestic OEMs. These orders encompass new technologies in the heat shield space.
Further, the orderbook also include five-year supply contracts worth Rs 120 crore for gasket products from both domestic and export OEM customers.
Overall the expansion in orderbook will assist the company in expanding its share with existing customers and attracting new customers across different regions, thereby fostering growth and increasing market share in the future.
Talbros Automotive Components, a manufacturer of auto components, serves clients such as Bajaj Auto, Tata Cummins, Volvo Eicher India, Ashok Leyland, Escorts Group, Force Motors, Hero MotoCorp, Honda, and Hyundai, among others.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
