Shares of a globally recognized manufacturer of high-precision automotive components surged nearly 2.4 percent on BSE to Rs. 815.85 on Tuesday, after announcing the operational readiness of a new manufacturing facility for the BMW electric car parking lock mechanism.
Price Movement
With a market cap of Rs. 862.5 crores, at 11:50 a.m., the shares of RACL Geartech Limited were trading in the green at Rs. 800, up by around 0.44 percent, as compared to its previous closing price of Rs. 796.5.
What’s the news
According to the latest regulatory filings with the stock exchanges, RACL Geartech Limited announced the operational readiness of its manufacturing facility at Gajraula for producing parking lock actuation assembly for BMW electric cars.
The trial production has been completed, and pre-series production has been started. The facility will be officially inaugurated on 13th February 2025, by senior management personnel from BMW.
Key highlights of the new facility include its use of 100 percent green electricity, operating entirely on renewable energy, which aligns with RACL Geartech Limited’s commitment to sustainability.
Additionally, the plant ensures contamination-free manufacturing with fully air-conditioned premises that maintain a clean and controlled environment, vital for precision production.
The advanced assembly stations are equipped to offer end-to-end traceability, ensuring compliance with BMW’s high-quality standards.
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Previous News
18th November 2024 – RACL Geartech was awarded a new nomination from BMW AG for the supply of Drive Train Parts for their upcoming Electric Sports Car.
This nomination marks the second such nomination from the EV passenger car segment, aligning with the company’s strategy to strengthen its EV portfolio. The commercial production of these parts is expected to begin in 2026.
Financials
RACL Geartech reported a significant growth in the revenue from operations, experiencing a marginal decline of nearly 0.44 percent YoY, decreasing from Rs. 113.3 crores in Q3 FY24 to Rs. 112.8 crores in Q3 FY25.
Similarly, during the same period, the company’s net profit decreased from Rs. 12.02 crores to Rs. 6.54 crores, representing a growth of around 45.6 percent YoY.
About the Company
Established in 1983, RACL Geartech Limited, a leading automotive components supplier in India, is engaged in the business of manufacturing of transmission gears and shafts for automotive and industrial applications. The company has two manufacturing units in Uttar Pradesh at Gajraula and Noida.
Written by Shivani Singh
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