Sprayking Agro Equipment Limited has received order worth INR 15 Millions and Launched 5 new Products

Sprayking Agro Equipment Limited (referred to as "Sprayking", "The Company"), brass manufacturer, has received repeat purchase order worth INR 15 millions for supply of Brass parts. Further the Company has launched 5 new products such as Rectangle profile, Section rode, Electrical Section rode, Agricultural gun parts (which is assembly of 15 products) which shall be used in manufacturing , Agricultural and Electrical industry.

Further the Company is in advance talks with Lixil Group ~ South Africa for future business order. Lixil Group officials had visited the manufacturing unit and registered office of the Company dated July 2023. Prior to which Company had submitted quotation and offer as per the requirement of Lixil Group - South AfTica.

As per their communication received by the Company they have considered the offer given by the Company and requested Company 10 Prepare samples for their requirement. Currently, the Company is in process of developing the samples and in near future shall share the same with Lixil Group for their approval followed by which the Company will receive commercial order from them.

Recent remarkable Development in the Company:

The Company has recently acquired its new manufacturing facility at Jamnagar, Gujarat, The unit will be manufacturing brass and forging companents/parts similar to the existing manufacturing facility of the company. This new Manufacturing facility is spread over 3,000 59. mtr. The addition of this manufacturing facility will strengthen Company's presence in the market.

Sprayking Agro Equipment Limited has recently acquired 51% stake in M/s. Narmada Brass Industries in order to expand the business. Established in 2019, Narmada Brass Industries is partnership firm started by Mr. Hitesh Dudhagra. Narmada Brass has its own manufacturing unit of copper brass products. The manufacturing plant has capacity of 2000 ton per annum of forged products. With this acquisition the company is growing by leaps and bounds and catering to new demand of orders from domestic as well as export Market.

Like mentioned above Company is growing in organic and inorganic way to achieve vision and mission of the company. The fund which is being raised shall be used for growth of the Company and in tum growth of the stake holders.

Shares of Sprayking Agro Equipment Ltd was last trading in BSE at Rs. 193.00 as compared to the previous close of Rs. 192.40. The total number of shares traded during the day was 34260 in over 138 trades.

The stock hit an intraday high of Rs. 197.40 and intraday low of 192.60. The net turnover during the day was Rs. 6615736.00.

Source : Equity Bulls

Keywords

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