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Pritika Auto begins tractor component production
2025-02-03
Pritika Auto Industries announced on January 22, 2025, the commencement of production for a leading multinational tractor manufacturer. This new business venture is expected to contribute approximately Rs 200 million annually to the company's order book.
The initial order includes vital tractor components such as hydraulic cylinders, top link brackets, hydraulic blocks, and tube cylinders, marking a significant step in Pritika Auto's growth strategy.
The long-term partnership is projected to generate a cumulative order value of Rs 0.80 billion to Rs 1 billion over the next four to five years. Harpreet S. Nibber, Managing Director of Pritika Auto, expressed confidence that the company would continue to deliver high-quality, precision-engineered components that meet industry standards.
Pritika Auto is also enhancing its financial stability by undertaking a rights issue of up to Rs 0.49 billion, aimed at funding expansion plans and reducing its debt. The company has longstanding relationships with major original equipment manufacturers like Escorts Kubota, TAFE Motors, Mahindra & Mahindra, and Ashok Leyland.
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