Remsons Industries said that it has received multiple orders from Tata Motors for a supply of winches used for spare wheels.
The company is currently supplying winches to its successful models viz. Tigor, Altroz, and Punch, and the recent order is for its new model Nexon iCNG.
The total size of the order stands at Rs 30 crore, which will be executed over a period of three years.
Amit Srivastava, Group CEO, said, At Remsons, we take great pride that Tata Motors has placed their trust in us. By providing a wide selection of winches, we ensure that businesses can find the perfect solution for their specific needs and be a valuable partner in their journey.
With the help of the UK acquisition of Remsons was able to add various goods such as winches, jacks, and pedal boxes. We are in the process of introducing them to our customers, who will be able to benefit from global technology produced in India.
Remsons Industries is an automotive OEM components manufacturer supplying two, three, and four-wheeler vehicles, commercial vehicles, and off-highway vehicles all over India and automotive OEMs globally for the last 50 years. The company has facilities in Gurgaon, Pune, Pardi and Daman in India, & Stourport in the UK.
The company’s consolidated net profit surged 66.34% to Rs 3.41 crore on an 8.77% increase in sales to Rs 82.22 crore in Q3 FY24 over Q3 FY23.
The scrip had lost 0.38% to end at Rs 927.75 on the BSE yesterday.
The article originally appeared on Business Standard.