BSE and NSE listed Pritika Auto Industries Ltd. Has announced highest ever consolidated monthly dispatches, touching 3450 tons and highest consolidated monthly sales which crossed Rs. 30 crs for the month of August.
Currently, it has three ultra modern state of art manufacturing units, wherein two are
located in Punjab and one in Himachal Pradesh. In addition to these, the company is
working towards setting up its fourth plant in Punjab. Pritika has a strong pan India
presence and also exports to major clients in the US. With regards to products, they
have a diversified portfolio which includes axle housings, wheel housings, hydraulic lift
housings, end cover, plate differential carrier, cylinder blocks, crank cases.
Speaking about the expansion plans, Mr. Harpreet Singh Nibber, Managing Director said, “We currently have three manufacturing units across Punjab and Himachal Pradesh with a total production capacity of over 50,000 tons per annum. To cater to the rising demand, the Company plans to expand capacity by 1,500 tons per month, resulting in a capacity of 18,000 pa, through a new manufacturing unit in Punjab – operational from 2023. Thus, we will have a total capacity of 68,000 ton pa by 2023. The new unit would be built on land already owned by the Company and will be fully equipped with the latest technology and machinery, capable of manufacturing the whole gamut of products that the company currently produces. We aim to raise capital of approximately Rs. 35 cr for this new endeavour. Of this, Rs. 25 cr would be for the new plant, while Rs. 10 cr would go into working capital. ”
The company has recently announced their highest ever export sales/dispatches.
Speaking about export scenario and emerging opportunities in international markets, the company added, “India exports auto components to several parts of the world, major markets being developed countries such as the US, Germany and UK. Some of the important Asian markets for auto components include Sri Lanka, Bangladesh and Thailand. According to ACMA, exports in auto components sector grew at 8.3% CAGR during 2014-19 to USD 15.17 billion, and are further forecast to reach USD 80 billion by 2026. These are good positive indicators for us. In recent years, we have won two export orders for casted components from a US based conglomerate, amounting to USD 2 million. Going forward, we aim to further expand
such export opportunities and gain recognition among global clients.”