Talbros Automotive Components jumped 7% to Rs 162.70 after the company said that the growth momentum continues in its overall performance for the fiscal FY20-21.
The company further said that the forging business continued to outperform all other segments. The segment achieved approximately 45% revenue growth on year-on-year (Y-o-Y) basis.
The gaskets business achieved revenue growth of over 25% on Y-o-Y basis, it added. Talbros Automotive said that all the joint venture companies have reported positive revenue growth. Nippon Leakless Talbros reported double-digit revenue growth on YoY basis. Magneti Mareli Talbros Chassis Systems reported mid-single digit revenue growth on YoY basis. Talbros Marugo Rubber reported lower-single digit revenue growth on YoY basis.
During Q3 FY21, the company entered in a Technical Assistance Agreement (TAA) with its Japanese partner 'Sanwa Packing Industry Co.' for lightweight aluminium heat shields.
Talbros Automotive Components, the flagship manufacturing company of the Talbros Group, manufactures automotive & industrial gaskets in collaboration with Coopers Payen of UK. Talbros stands proud and tall as a mother brand of gaskets, chassis, rubber products and forgings in India. Talbros Group portfolio also includes Mercedes Benz dealership for passenger cars.
The company posted a consolidated net profit of Rs 10 crore in Q2 FY21 as compared to a net profit of Rs 3.01 crore in Q2 FY20. Net sales during the quarter rose 19.3% to Rs 108.26 crore.
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