Talbros Automotive soars after winning orders

Talbros Automotive Components jumped 7.19% to Rs 238.55 after the company along with its joint venture partners won multi-year orders worth about Rs 304 crore.

The auto ancillary company in an exchange filing today said, "These orders are spread across its domestic and international customers. The orders will be implemented over a period of five years starting from current fiscal year itself and major chunk of it distributed between 2023-2025. The order covers company's flagship products gaskets and forgings as well products from JVs Talbros Marugo Rubber and Magneti Marelli Talbros Chassis Systems."

The company said it will be required to undertake a capex of approximately Rs 20 crore which along with existing facilities would be sufficient to execute these orders.

Commenting on the order win, Navin Juneja, director and Group CFO of Talbros Automotive Components said, "We continue building strong order book given our hedged product portfolio. These orders give us immense visibility for revenue and profitability in the coming financial years. Our technology spending and efficient utilization of our facilities is leading us to develop our business and we continue to expand domestically and internationally at this pace in the coming future."

Talbros Automotive Components, the flagship manufacturing company of the Talbros Group, manufactures automotive & industrial gaskets in collaboration with Coopers Payen of UK.

On a consolidated basis, the company's net profit jumped 144% to Rs 10.55 crore on a 35.7% rise in net sales to Rs 129.52 crore in Q3 FY21 over Q3 FY20.

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