Sequential performance
On a sequential basis, revenue from operations was largely unchanged at ₹1,216.67 crore, compared with ₹1,216.78 crore in the March quarter. Profit after tax declined 16.2% to ₹46.88 crore from ₹55.94 crore, while total expenses edged up marginally to ₹1,154.77 crore from ₹1,154.35 crore.
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Fresh capacity expansion
The board approved a ₹170.52 crore capital expenditure plan to strengthen the company’s manufacturing capabilities and deepen its presence in the passenger vehicle segment. The investment will be used to set up a 4,000-metric-tonne press line and create additional capacity for manufacturing passenger vehicle components, primarily for export markets.
The project will add 8,800 metric tonnes of annual production capacity, taking the company’s total forging capacity beyond its existing 311,400 metric tonnes. According to the company, the expansion is expected to be completed by September 2027 and will be financed through a mix of equity and debt. It said the investment is aimed at expanding its footprint in export-oriented passenger vehicle components while augmenting its forging capabilities to cater to future demand.
Shares of the company settled nearly flat at ₹584.50 on the National Stock Exchange (NSE), ending the session up 0.086%.
(Edited by : Ajay Vaishnav)
