Sansera Engineering wins over INR 508 mn repeat order from a marquee North American manufacturer of EV passenger cars

Sansera has received order confirmation for three components from a marquee North American manufacturer of EV passenger cars. These are precision forged and machined components for the passenger vehicles. The annual value of these orders is approximately INR 508 mn (based on current forex rate). As indicated by the customer, after successful trials, the mass production of these parts will commence during FY24.

Earlier, we have also been awarded an order worth INR 497 mn from the same customer. With award of the new orders, the annual order book with this customer has crossed INR 1,000 mn.

Commenting on this achievement, Mr. B R Preetham Group CEO, Sansera Engineering Limited said: "I am very delighted to announce receipt of these orders for precision forged and machined components for PVs. This is a strategic win for us, helping us in our product portfolio expansion in the EV space. Given that it is a repeat order from such a marquee player in the EV space, demonstrates enhancement of our comprehensive capabilities in this segment.

We see strong growth opportunities in the new technologies, and we are committed to grow in this area. These orders would contribute towards our growth in the technology agnostic products and unfold more opportunities in this area."

Shares of Sansera Engineering Ltd was last trading in BSE at Rs. 678.10 as compared to the previous close of Rs. 690.90. The total number of shares traded during the day was 5369 in over 513 trades.

The stock hit an intraday high of Rs. 698.85 and intraday low of 672.85. The net turnover during the day was Rs. 3667725.00.

Source : Equity Bulls

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