Talbros Automotive JV Secures Rs 1,000 Cr Order - PTI
Apr 18, 2024 11:53
Talbros Automotive Components' joint venture firm has secured a multi-year contract worth Rs 1,000 crore from a European OEM for suspension arms for ICE and EV vehicles. The order will be executed over the next eight years, starting in Q4 FY24.
New Delhi, Apr 18 (PTI) Talbros Automotive Components on Thursday said its joint venture firm has secured a multi-year contract valued at around Rs 1,000 crore from a European original equipment manufacturer (OEM).
The order is to be executed over a period of next eight years commencing from the fourth quarter of this fiscal, the company said in a regulatory filing.
The order has been secured by the company's joint venture firm -- Marelli Talbros Chassis Systems (MTCS).
The order is centered on the supply of suspension arms tailored for both conventional internal combustion engine (ICE) vehicles and new-age electric vehicle (EV) platforms, the company said.
The production for the same would be done from the Pune plant of MTCS for which a capex investment of Rs 65 crore is envisaged in FY25, it added.
The investments would be done through internal accruals and debt, the company said.
Last year, the company and its JV firm had received orders worth Rs 980 crore across varied products segments.
Coupled with order wins in FY24, Talbros Automotive Components Ltd (TACL) anticipates continued momentum in business and profitability.
Shares of the company were trading 4.99 per cent up at Rs 293.30 apiece on the BSE.
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