The shares of this global manufacturer of engineered systems gained up to 3 percent after the company’s subsidiary received an order of USD 1.2 million for the supply of construction equipment.
With a market capitalization of Rs 2,659.51 crore, the shares of Uniparts India Ltd were trading at Rs 589.25 per share, increasing around 1.31 percent as compared to the previous closing price of Rs 581.65 apiece.
According to the company filing, Uniparts Olsen Inc. a wholly-owned subsidiary of the company, registered in the United States of America has been awarded an order of USD 1.2 million from Doosan Bobcat North America Inc., for the supply of construction equipment parts.
In addition to the above paragraph, The parts will be manufactured by company operations in India and transported to Uniparts Olsen Inc. before being sold to Doosan Bobcat North America Inc.
Uniparts India Ltd’s revenue declined by 18 percent, from Rs 360 crore in Q2FY23 to Rs 599 crore in Q2FY24. During the same period, net profit also decline by 37 percent, from Rs 53 crore to Rs 33 crore.
Uniparts is a top provider of systems and components for off-highway vehicles. UIL is a global market leader in delivering important systems and components such as 3PL and PMP for OHVs, including complex, critical, limited volume, and high SKU items.
Uniparts has an estimated market share of 16.68 percent in the global 3PL market for tractors and 5.92 percent in the global PMP market for CFM equipment, indicating a dominant market position. (Market share based on fiscal 2022.)
The Company’s dual-shore capabilities, as well as strategically situated storage hubs, allow it to produce products in many places and provide clients with consistent and competitive production operations from various locations.
Uniparts India Limited manufactures engineered systems and solutions. The firm is one of the major suppliers of systems and components for the off-road sector in agriculture, construction, forestry, and mining.
Written by:- Abhishek Singh
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