Pritika Engineering logs record sales of 900 metric tons in Jul

New Delhi, Aug 5 (PTI) Pritika Engineering Components on Monday said it has logged the highest-ever sales of 900 metric tonnes in July and aims to achieve 6-8 per cent growth in the current fiscal.

Pritika Group — founded in 1974 by RS Nibber — is a leading manufacturer of components for the tractor, heavy commercial vehicle, and automotive industries, a company statement said.

According to the statement, it registered the highest-ever monthly sales of 900 metric tons in July 2024.

This remarkable achievement comes as the company celebrates its 50th anniversary this year, it added.

“This record-breaking performance is a reflection of the growing demand for our high-quality components. We are confident that this momentum will continue throughout the year, enabling us to achieve our target of 6-8 per cent sales growth for FY24-25.

“As we look ahead, we are excited about the opportunities in the railways and defence sectors and are strategically positioning ourselves to enter these promising markets,” Pritika Group Chairman & MD Harpreet Singh Nibber said.

In the financial year ending March 31, 2024, the company recorded a revenue of Rs 342.09 crore and a profit after tax of Rs 16.85 crore.

Earlier in December, the National Company Law Tribunal (NCLT) approved the scheme of arrangement between Pritika Industries Limited (PIL) and Pritika Auto Industries Ltd (PAIL) for the demerger of its automotive, tractor, and engineering component business.

With five manufacturing facilities located across North India, the group caters to the needs of Fortune 2000 and top 200 Indian companies.

Pritika Group offers a wide range of products, including axle housings, wheel housings, hydraulic lift housings, end covers, plate differential carriers, cylinder blocks, crankcases, and flywheel housing.

The company is investing in advanced technologies and expanding its manufacturing capabilities to meet the evolving needs of the automotive industry.

Pritika’s customer base major includes original equipment manufacturers (OEMs) like Mahindra & Mahindra, Swaraj Engines, TAFE, Escorts, and SML Isuzu, among others.

In addition to supplying the domestic market, the company exports its cast products to international markets.