Auto Penny Stock Under Rs 30 To Keep Under Radar As Company Finalised Rs 30 Crore Order Per Annum From Leading OEM Tractor Manufacturer
The stock is up by 53 per cent from its 52-week low of Rs 18.10 per share.
Pritika Auto Industries Limited (BSE: 539359; NSE: PRITIKAUTO), among the leading manufacturers of tractor components in India, announced that it has finalised a significant order worth Rs 30 crore per annum from the country’s leading OEM tractor manufacturers. This order represents a strong endorsement of the company’s capabilities in delivering high-quality components for the agriculture sector. The order involves the supply of approximately 250 tons per month of new large components designed for tractors. These new components will weigh over 78 kilograms, underscoring Pritika Auto’s expertise in producing robust, heavy-weight products. This latest order is a testament to Pritika Auto Industries’ Limited commitment to innovation and excellence in meeting the evolving needs of the automotive industry, particularly in the agricultural segment.
Pritika Auto Industries Ltd., a cornerstone of the Pritika Group established in 1980, is a premier manufacturer of tractors and automotive components. Renowned for their expertise in machined castings and a diverse range of parts, they offer a comprehensive solution for the automotive and engineering industries. Their reputation as a trusted partner has solidified their position with leading OEMs, securing substantial annual orders from both multinational and domestic tractor manufacturers.
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According to Quarterly Results, the company reported a total income of Rs 88.80 crore and a net profit of Rs 4.48 crore in Q1FY25 while in Q1FY24 the company reported a total income of Rs 94.72 crore and a net profit of Rs 5.29 crore. Similarly, in its annual results, the company reported a total income of Rs 343.71 crore and a net profit of Rs 16.85 crore in FY24 while in FY23 the company reported a total income of Rs 363.24 crore and a net profit of Rs 15.69 crore.
The company has a market cap of over Rs 400 crore and the stock’s 52-week high of the stock is Rs 53.50 and the 52-week low of Rs 18.10. According to the shareholding pattern, the promoters of the company have 64.86 per cent stake, FIIs own 4.07 per cent and the public owns 31.08 per cent as of June 2024. The stock is up by 53 per cent from its 52-week low of Rs 18.10 per share. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.