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PPAP Automotive Limited secures multi year order worth Rs. 118 Crore
Posted On : 2024-12-16 20:18:00( TIMEZONE : IST )
PPAP Automotive Ltd, a leading manufacturer of Automotive Sealing Systems, Interior and Exterior Automotive parts, is delighted to announce the receipt of substantial orders with a lifetime value of Rs 118 crore. These orders include a significant business for electric vehicles, valued at approximately Rs. 50 crore. This development aligns with PPAP's forward thinking strategy of alignment of its portfolio with growth opportunities in the electric vehicle market. The order is to be executed over a period of 3 years to 5 years. A key highlight of these orders is the company's success in expanding its footprint with KIA, marking a key milestone in PPAP's efforts to expand its presence with global automotive giants. This new order win underscores PPAP Automotive's ongoing efforts to build long term partnerships and its dedication to delivering excellence across both existing and new customers.
Commenting on the development, Mr. Abhishek Jain, CEO & MD of PPAP Automotive Ltd said, "These new orders from longstanding clients underscore PPAP Automotive's enduring relationships and unwavering commitment to excellence, reinforcing its reputation as a trusted leader in the automotive industry. Through our continued efforts we have successfully made significant inroads with KIA. We were successful in introducing new technology parts which were highly appreciated by our customers and were immediately adopted for use in their forthcoming models. We remain committed towards achieving higher revenues coupled with better margins as these premium products bear fruit going ahead."
Shares of PPAP Automotive Limited was last trading in BSE at Rs. 235.70 as compared to the previous close of Rs. 216.95. The total number of shares traded during the day was 81443 in over 3447 trades.
The stock hit an intraday high of Rs. 260.25 and intraday low of 214.25. The net turnover during the day was Rs. 20265476.00.
