Talbros Auto gains on bagging orders worth Rs 420 cr

Talbros Automotive Components surged 5.46% to Rs 487.90 after the company said it received multi-year orders worth Rs 420 crore from domestic and overseas customers across its business divisions, product segments and joint ventures.

The company has received order from a leading domestic OEM for the electric vehicles (EV) for over Rs 160 crore over 5 years. It also received orders from new customers for multiple auto parts for multiple applications; and from new OEM customers in the non-automotive segment for export markets.

These orders are to be executed over a period of next 5 years covering the company's product lines - gaskets, heat shields, forgings and chassis. These orders span across new technologies such as heat shields for which it have secured new customers in the domestic PV space and exports.

"These orders will help us increase our share with existing customers and new customers across geographies which will help us grow and gain market share in the coming years," the company said in a statement.

Talbros Automotive Components is engaged in the business of manufacturing Gaskets and forging. On consolidated basis, the company's net profit rose 17.4% to Rs 13.05 crore on 11.6% rise in net sales to Rs 160.73 crore in Q2 FY23 over Q2 FY22.

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