PRITIKA ENG COMPO LTD Share price

Pritika Engineering Components Limited was incorporated as a Private Company under the name Pritika Engineering Components Private Limited' with Registrar of Companies, Chandigarh dated 20th February, 2018. Company converted to Public and consequently, name of the Company was changed to Pritika Engineering Components Limited', and a fresh Certificate of Incorporation dated 21st April, 2022 was issued to Company by the Registrar of Companies, Chandigarh. The Company is a subsidiary of Pritika Auto Industries Limited. The Company is engaged in manufacturing of precision machined components primarily for the automotive industry, especially for tractors, trucks, and other commercial vehicles, etc. It caters to the tractor industry in the automotive sector with major dependency on Original Equipment Manufacturers. The Company manufactures various Tractors & Automobile components like End Cover, Cover Sealed Brake, Differential Case, Cover Hydraulic Lift, Cover Transcase, Front Wheel hubs, Fly Wheel Housing, Rear Axle Casings, Hydraulic Lift Covers, Brake Housing & Front Engine Supports etc. The Company has a manufacturing unit located in Punjab. It manufactures customized products for tractors, commercial vehicles & other construction equipments, etc which are supplied to Original Equipment Manufacturers (OEMs) directly /through their group companies. The manufacturing process is as follows: Core Making, Molding, Melting, Pouring, Shakeout, Short Blasting, Fettling, Inspection, Painting and Machining. Apart from these, the business is mainly comprising of two processes: Foundry and Machining. Fully automatic plant is being provided which comprises of Intensive mixers, Knock Out, Sand Cooler, Hopers, Magnetic Separator, Bucket elevator & Conveyor Belt. Moulds are made on one line Simultaneous jolt & Squeeze pressure Moulding Machine. This machine is Semiautomatic where molding, Mold transfer, closing, etc, is done automatically. Two Induction Furnaces with two crucibles of 1000 kg/1500 kg each with pollution control equipment is installed to obtain molten metal at 1400 to 1600 degree temperature with electricity. CI turning boring, MS Scrap & Pig Iron are used as major raw materials. The molten metal from Induction Furnaces is poured into the moulds by ladle on monorails/crane. After pouring the moulds are carried through automatic track line & punch out machine punches the sand & casting from the mould box automatically. The sand goes in the return circle & casting go to shot Blasting/ Fettling. The final components is being checked with the gauges, instruments as per the requirement of customer / International Standards or specification. For this Inspection facilities like Gauges, Measuring Instruments is already available. The component is duly packed as per customer requirement and dispatched to the customer. For this, the Company use raw materials like CRC Scrap, MS Scrap, Turning Scrap, Cast Iron & Pig Iron that it procure from suppliers in the market. Along with it, it use consumables such as Ferro Silicon, Ferro Mangane, Copper & Sand. In 2021, the Company increased Installed capacity from 9600 MT to 12000 MT. In FY'22, Company manufactured 6619 MT with an installed capacity of 12000 MT. The Company incorporated a wholly owned subsidiary namely Meeta Castings Limited.' on March 16, 2022. The Company came out with a Public Issue in November, 2022 by raising Rs. 9.42 Crores and by issuing 32,48,000 equity shares of face value of Rs 10 each through Fresh Issue. The Company started a new plant with capacity of 12,000 tons/year, bringing the overall capacity to 24,000 tons per annum in 2023-24. Company commenced commercial production of key components, including hydraulic lift housings, axle housings, intermediate housings, and housing beam centers, further diversifying its product in tractor components market in FY 2025.