Talbros Automotive gains after JV bags multi-year contract worth Rs 150 crore

Talbros Automotive Components advanced 1.11% to Rs 548.80 after the company, through its joint venture (JV) Talbros Marugo Rubber, has received a new multi-year order worth Rs 150 crore for rubber hoses.

These rubber hoses will be directly used to facilitate the E20 fuel mechanism from multiple passenger vehicle (PV) OEMs in India. This order is to be executed over a period of next 5 years.

The Government of India has laid down a target of achieving 20% ethanol blending in petrol by 2025 which will be known as E20. With the use of Biofuel, it will certainly help reduce pollution levels and reduce imports of crude oil in our country. The rubber hoses manufactured by Talbros are E20 compliant. This embarks Talbros' journey towards sustainability.

With this order, the company has added orders worth over Rs 1,000 crore during the current financial year across its business divisions, product segments and JVs, Talbros Automotive said in a statement.

Talbros Automotive Components (TACL), the flagship manufacturing company of the Talbros Group was established in the year 1956 to manufacture automotive and industrial gaskets. It is a mother brand for gaskets, chassis, rubber products and forgings in India. Talbros Group portfolio also includes Mercedes Benz dealership for passenger cars.

The company reported 17.36% rise in consolidated net profit to Rs 13.05 crore on a 11.63% rise in sales to Rs 160.73 crore in Q2 FY23 over Q2 FY22.

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