Relicab Cable Manufacturing Ltd announces significant milestone

Relicab Cable Manufacturing Limited has reached a significant milestone in its global growth strategy. On September 19, 2024, the company successfully dispatched its inaugural export order, valued at US$ 1,17,596, to Malawi, Mozambique, and a key African port city.

This achievement marks a major breakthrough in Relicab Cable's expansion efforts, demonstrating its capability to cater to the growing demand for high-quality electrical wires and cables in Africa. The company's strategic acquisition of a neighbouring manufacturing unit in Daman has significantly enhanced its production capacity, enabling it to meet the increasing requirements of international markets.

Daman Based, Electrical Wires and Cables Manufacturing Company - Relicab Cable Manufacturing Ltd. has on September 19, 2024 successfully dispatched its first export order of US$ 1,17,596/- to the African Port City of Malawi, Mozambique.

This marks a land mark event in the growth story of the company which has recently ramped up its manufacturing facilities by acquiring neighbouring manufacturing unit on a leasehold basis at Daman to further augment its in-house manufacturing lines especially for the growing export markets.

Speaking on this event the Managing Director of the company - Mr. Suhir Shah stated that: "We are very glad to announce that our company has finally delivered its export order to Malawi, Mozambique. We have been working on expanding our machineries to ensure we are well prepared to cater to the rising demand in Africa for our products.

This recent development is in line with the theme of our company wherein we intend to venture into various high growth sectors and untapped geographies which require wire and cables. The company has recently even supplied its Aluminium Cables to the Ghana Electricity Board in Africa through contracting company and expects to receive multiple orders from such type of offerings as demand for these products is very high in Africa".

Shares of Relicab Cable Manufacturing Ltd was last trading in BSE at Rs. 151.15 as compared to the previous close of Rs. 149.50. The total number of shares traded during the day was 150147 in over 736 trades.

The stock hit an intraday high of Rs. 154.05 and intraday low of 140.00. The net turnover during the day was Rs. 22175547.00.

Source : Equity Bulls

Keywords

RelicabCableManufacturing INE773T01014 Milestone ExportOrder Dispatched