PPAP Automotive Spurts on Bagging Multi-Year Orders Of Rs 1.18 Bn

18 Dec 2024 CW Team

PPAP Automotive surged 13.62% to Rs 246.50 after the company stated that it has received substantial orders for multiple years with worth Rs 1.18 billion. The orders include a significant business for electric vehicles, valued at approximately Rs 500 million. This development aligns with the firms forward-thinking strategy of aligning its portfolio with growth opportunities in the electric vehicle market. The order is to be executed over a period of 3 years to 5 years. In an exchange filing, the company said, A key highlight of these orders is the companys success in expanding its footprint with KIA, marking a key milestone in PPAPs efforts to expand its presence with global automotive giants. This new order win underscores PPAP Automotive's ongoing efforts to build long-term partnerships and its dedication to delivering excellence across both existing and new customers. Abhishek Jain, CEO & MD of PPAP Automotive, said, These new orders from longstanding clients underscore PPAP Automotive's enduring relationships and unwavering commitment to excellence, reinforcing its reputation as a trusted leader in the automotive industry. Through our continued efforts, we have successfully made significant inroads with KIA. We were successful in introducing new technology parts, which were highly appreciated by our customers and were immediately adopted for use in their forthcoming models. We remain committed towards achieving higher revenues coupled with better margins as these premium products bear fruit going ahead. PPAP Automotive is a leading manufacturer of automotive sealing systems and interior and exterior automotive parts in India. The companys manufacturing facilities are located in all the major automotive passenger vehicle manufacturing hubs in North, West and South India.

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