EV Panel Manufacturer Bags Rs 250 Crore Order From Mahindra & Mahindra Ltd; Stock Hit 10 Per Cent Upper Circuit

The stock is up by 25 per cent from its 52-week low of Rs 176.05 per share.

Saakshi Medtech & Panels Ltd has secured a significant Letter of Business Award (LoBA) from Mahindra & Mahindra Limited for the supply of EV Panels. This domestic contract, valued at Rs. 250 Crore (inclusive of GST) over a 5-year period until 2029, underscores the company's growing prominence in the electric vehicle sector. The order mandates the delivery of EV Panels within a 60-day timeframe and includes a comprehensive 3-year guarantee/warranty.

On Wednesday, one of the Top Gainers on NSE, shares of Saakshi Medtech & Panels Ltd hit a 10 per cent upper circuit to Rs 220.05 per share from its previous closing of Rs 200.05 per share. The stock’s 52-week high is Rs 369 per share and its 52-week low is Rs 176.05 per share.

Saakshi Medtech & Panels Ltd (SMPL) is a dynamic company established in 2009. It specializes in manufacturing and supplying a diverse range of products, including Electrical Control Panels, Medical X-ray systems, Fabrication components, and Wire Harnesses. SMPL caters to a wide array of industries such as Oil & Gas, Aviation, Renewables, Healthcare, and Locomotives.

SMPL's strong focus on quality and innovation has enabled it to forge partnerships with renowned clients. In the Electrical Control Panels and Cabinets segment, the company collaborates with industry leaders like Atlas Copco, OTIS, GE T&D, GE Oil & Gas, Kirloskar Oil Engines, and Kirloskar Pneumatic. For Medical X-Ray Systems, SMPL works closely with BPL Medical Technologies, Philips, and Wipro. In the Fabrication vertical, the company partners with global giants such as Wabtec Corporation and GE Aerospace.

The company has a market cap of Rs 388.52 crore. The stock is up by 25 per cent from its 52-week low of Rs 176.05 per share. Investors should keep an eye on this SME stock.

Disclaimer: The article is for informational purposes only and not investment advice.