Alicon Castalloy on Monday announced that it has been selected by Jaguar Land Rover (JLR) in the United Kingdom to supply the eAxle Housing, a critical product for their eMobility platform.
The company said that this component is an integrated eMotor and Transmission Housing.
The aluminum casting manufacturer said that the order win is a large, multi-million dollar order for deliveries over 5 years and is the highest ever order win from a single customer for a single product in the company's history. The product will be manufactured at Alicon's facility at Pune, India, it added.
This nomination showcases Alicon's strong brand image in the industry, its expertise in manufacturing critical and complex components as well as its competitiveness on the global stage. This order win adds to the momentum in the eMobility business, recently rebranded as Carbon Neutral, and validates its increasing global footprint, the company stated.
Alicon Castalloy is one of India's largest integrated manufacturers of aluminum castings. Headquartered at Pune, the company amalgamates the best of European Engineering, Japanese Quality and Indian Ingenuity & frugality to serve a diversified marquee customer base across sectors such as automobiles, infrastructure, aerospace, energy, agriculture, defence and healthcare.
The company reported a consolidated net profit of Rs 10.77 crore in Q1 FY23 as against a net loss of Rs 4.20 crore recorded in the corresponding quarter previous year. Net sales climbed 62.9% year on year to Rs 343.34 crore in Q1 FY23.
Shares of Alicon Castalloy skid 1.73% to Rs 883 on the BSE.
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