Pritika Group Boosts Production with Major Tractor Manufacturer Partnership

Pritika Group has begun commercial production of hydraulic lift and axle housings for a major tractor manufacturer in India. Expected to generate Rs 18 crore annually, these orders have long-term visibility over four to five years, alongside expansion and debt reduction initiatives.

Tractor component manufacturer Pritika Group has kicked off commercial production, fulfilling a significant supply order for a top multinational tractor maker in India. The order encompasses components such as Hydraulic Lift Housing and Axle Housing, as confirmed by the company's statement.

The annual business value of this order is projected to be roughly Rs 18 crore, with a long-term agreement stretching over four to five years. Production is being led by Pritika Engineering Components Ltd, a subsidiary of Pritika Auto Industries Ltd, which holds a controlling 70.81% stake.

Pritika Auto Industries has strategically utilized recent funds from a preferential equity share issue to enhance manufacturing capabilities and plans to issue rights shares valued up to Rs 49.90 crore. This move aims to support further expansion and reduce debt, with similar steps being taken by the subsidiary in its venture into railway component manufacturing.

(With inputs from agencies.)