Talbros Automotive Components reports consolidated net loss of Rs 8.86 crore in the June 2020 quarter
Talbros Automotive Components jumped 4.27% to Rs 177.05 after the company said it won a multi-year order for supplying body in white (BIW) parts to a large European car manufacturer.Marelli Talbros Chassis Systems, the 50% joint venture company of Talbros Automotive Components has received multi-year order from a large European car manufacturer. The order is for supplying BIW (body in white design) parts. The order supplies will begin in Q1FY22 from the JV company's plant in Pune, Maharashtra. The annual order value is estimated at Rs 14.4 crore. The order value is estimated at approximately Rs 92 crore over the life of the contract. No major investments will be required to fulfill this order as the JV company has sufficient capacity.
Commenting on the development Anuj Talwar, Joint MD of Talbros Automotive Components said: "This order is our second large win in the current financial year. This order further enhances the revenue growth visibility and will lead to operating leverage benefits due to low level of capex required to fulfil this order. We remain buoyant on the export opportunities for Indian Auto Components Industry and believe the positive momentum to continue for specialized manufacturers like us."
Talbros Automotive Components, the flagship manufacturing company of the Talbros Group, manufactures automotive & industrial gaskets in collaboration with Coopers Payen of UK.
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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