Sterling Tools

The company's share price is currently 34 per cent up from its 52-week low of ₹270, touched on April 7 this year

The company has partnered with Zhejiang Meishuo Electric Technology Co., China to locally manufacture latching relays for the energy sector, industrial grids, and other applications in India

The rise in Sterling Tools share price came after the company revealed that it has been awarded the long-term rating of [ICRA]AA- (Positive)

The strategic alliance with Yongin Electronics, a supplier of components to the Hyundai Kia Motor Group, is projected to yield a substantial biz volume of Rs 250 crore over the next five years.

Sterling Tools is the second largest automotive fastener manufacturer in India. Its subsidiary, Sterling Gtake E-Mobility, is the largest Motor Control Unit manufacturer for the EV industry in India.

Automotive parts manufacturer Sterling Tools Ltd's profit after tax doubled in the March quarter to Rs 16.3 crore driven by growth in its electric vehicle division. The company reported a profit after tax of Rs 7.8 crore in the year-ago period, Sterling Tools Ltd (STL) said in a statement. Total income in the January-March quarter jumped by 27 per cent to Rs 270.2 crore compared to Rs 212.7 crore in the last quarter of the previous year, the company said. For the full 2023-24 fiscal, the profit after tax rose by more than 15 per cent to Rs 55.4 crore against Rs 47.9 crore in the previous year. Total Income for FY24 rose by 21 per cent to Rs 938.5 crore as against Rs 774.9 crore, the company said. The Electric Vehicle (EV) division of the company, Sterling Gtake E-Mobility (SGEM), reported a 23 per cent growth in total income to Rs 323.8 crore in FY24 compared to Rs 174.3 crore in the year-ago period. The EV division accounts for 35% of FY24 consolidated revenue now against 23 per

Notably, the stock has zoomed 11.32 per cent in the past month, outperforming S&P BSE SmallCap index, which jumped 9.22 per cent during the same period

Auto component maker Sterling Tools Ltd on Thursday reported a 36.4 per cent jump in its consolidated Profit After Tax (PAT) at Rs 13.1 crore for the quarter ended June 30. The city-based manufacturer of automotive fasteners and a supplier of Motor Control Units (MCUs), had posted a consolidated PAT of Rs 9.6 crore in the first quarter of FY23, as per a company statement. Total consolidated revenue for the quarter stood at Rs 222.8 crore, up 27.6 per over Rs 174.6 crore topline delivered in the same quarter last fiscal, it said. "Overall auto-industry growth has been tepid and segments like commercial vehicles and tractors have witnessed de-growth. However, we have reported a revenue growth of 7.4 per cent YoY in our fasteners business," said Atul Aggarwal, Whole-Time Director at Sterling Tools Limited. The EV industry witnessed a growth of 77 per cent during the quarter, and the company has reported a staggering growth of 135 per cent in our EV component segment on a YoY basis, he

EV penetration in 2W and 3W is expected to increase at a fast rate over the next few years which augurs well for the company's growth.

The revenue growth was primarily driven by increase in content per vehicle, overall robust industry demand & parts SOB increase in select OEM's.

In the past eight months, it has more-than-doubled or zoomed 203 per cent from Rs 116.05, which it had touched on May 12, 2022

As on May 31, 2022, Sterling Gtake E-mobility's order book stood at Rs 175 crore, all of which will be executed in FY23

Igarashi Motors, Sterling Tools, Rane (Madras), Rane Brake Lining, Rane Holdings, Sundaram Brake Linings, India Nippon Electricals and Lumax Auto Tech rallied up to 20% on the BSE on Thursday.

The company has entered into a JV agreement with Jiangsu Gtake Electric Company to provide the Indian electric vehicle OEM'S with best in class motor control units (MCUs).

The stock rallied 13% to Rs 262, also its record high on BSE in intra-day trade.

The stock surged nearly 15% to Rs 1,008, also its record high on BSE in intra-day trade.