Multibagger engineering stock engaged in the business of manufacturing customized precision machined components jumps 5 percent in the day’s trade, upon receiving a work order worth Rs. 24 Crores.
With a market capitalization of Rs. 111 Crores, the shares of Pritika Engineering Limited were trading at Rs. 81.45, up 5 percent from its previous day’s close price of Rs. 78. It has delivered multibagger returns of 156 percent in a year.
Pritika Engineering Limited has received a substantial order worth Rs. 24 Crores from a prominent multinational tractor manufacturer for the production of five new components as per the specifications and requirements which are not disclosed.
Following this order, Mr. Harpreet S. Nibber, Managing Director, Pritika Engineering Components Limited said, I am thrilled to announce a milestone in our journey of growth. Our team has secured an annual order of Rs. 24 crores from a leading multinational tractor manufacturer, reflecting our global competitiveness and trust in our capabilities
Pritika Engineering Limited is engaged in the business of manufacturing customized precision machined components primarily for the automotive industry, especially for tractors, trucks, and other commercial vehicles, and many more.
It manufactures various types of Tractors & Automobile components like End Covers, Cover Sealed Brakes, Differential Cases, Cover Hydraulic Lifts, Cover Transcase, Front Wheel hubs, Fly Wheel Housing, Rear Axle Casings, Hydraulic Lift Covers, and many more.
Its revenue from operations grew by 23.22 percent from Rs. 18.13 Crores in Q3FY23 to Rs. 22.34 Crores in Q3FY24, accompanied by increasing profits of Rs. 0.76 Crores to Rs. 1.16 Crores.
Written by: Bharath K.S
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