PNN
Mohali (Punjab) [India], August 26: Pritika Engineering Components Ltd (NSE: PRITIKA), manufacturer of customized components for tractors, commercial vehicles, and construction equipments, supplying OEMs directly or through group companies, has reported its Unaudited Financial Performance of Q1 FY25.
Commenting on the performance, Harpreet S. Nibber, Managing Director, Pritika Engineering Components Limited said, "We started FY25 with a strong surge of 32% in EBITDA demonstrating our improved operational efficiency despite election laid industry slowdown. We are seeing demand normalization with the highest ever sales of 900 tons in July 2024 indicating strong outlook for our products for the rest of FY25. To cater the rising demand, we are planning to expand our existing capacity and business diversification with proposed capex to be funded by fundraise to the tune of Rs49.50 Cr. With our quality products and strong client relationship, we are all leveraged to benefit from rising demand and benefit from expansion.
The Company is strategizing to venture into railways components and defence components business to meet the rising demand from these verticals. We are confident to bring substantial growth from our strategic initiatives enhancing in the coming years."
Key Highlights of Q1 FY25
The company plans to raise its Authorized Share Capital from Rs 20 Cr to Rs 25 Cr.
The company has decided to raise up to Rs 49.50 Cr to support its expansion and diversification plans, driving future growth and enhancing its market position.
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