जेवी को यूरोपीय ओईएम से ₹1,000 करोड़ का ऑर्डर मिलने के बाद टैल्ब्रोस ऑटोमोटिव के शेयरों में 5% की बढ़त हुई।

Talbros Automotive shares gained 5% after the JV bagged orders worth ₹1,000 crore from European OEMs.

Talbros JV secures ₹1,000 crore contract from European OEM for suspension arms, boosting market share and growth prospects.

Automobile
103
18, Apr, 2024

Jyoti Ahlawat

@JyotiAhlawat

Talbros Automotive shares gained 5% after the JV bagged orders worth ₹1,000 crore from European OEMs.

On Thursday, April 18, Talbros Automotive Components announced that its joint venture entity has secured a substantial contract from a major European original equipment manufacturer (OEM), valued at approximately ₹1,000 crore for a multi-year period. The JV, named Marelli Talbros Chassis Systems Private Limited, is slated to fulfil this contract over eight years, commencing from the fourth quarter of the fiscal year 2025. The company disclosed in a filing to the stock exchange that the contract focuses on supplying suspension arms tailored for both traditional internal combustion engine vehicles and modern electric vehicle platforms in the EMEA and NAFTA regions.

Production for this contract will take place at the JV's Pune facility, with an anticipated capital expenditure of ₹65 crore for the current fiscal year. Talbros Automotive Components stated that these investments will be financed through internal earnings and borrowing.

"This contract introduces a new client for the TACL group in Europe, a market renowned for specialized automotive components. It is expected to bolster our market presence in Europe and unlock fresh avenues for growth with both existing and new OEM partners in the region," the company remarked.

Furthermore, the company noted that in the previous year, it had received orders totalling ₹980 crores across various product segments within both its standalone operations and joint ventures. Among these, orders valued at ₹475 crore were earmarked for the electric vehicle sector, while ₹415 crore worth of orders pertained to exports.

Talbros Automotive Components' shares surged to a 5% upper circuit, reaching ₹294.6. Over the past year, the stock has experienced significant growth, nearly tripling in value, with a remarkable increase of 229%.

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