Pritika Group Commences Commercial Production of Advanced Tractor Components

Pritika Engineering Components Ltd, a 70.81%-owned subsidiary of Pritika Auto Industries Ltd, led the production of these vital components.

Following successful customer testing, tractor component manufacturer Pritika Group announced the beginning of commercial production on Wednesday for a supply order from a major international tractor manufacturer in India. According to a business statement, these parts comprise hydraulic lift housing and axle housing.

According to the corporation, these components (supply orders) will have a combined annual commercial value of about Rs 18 crore.

Additionally, it stated that these orders have a long-term outlook of four to five years. Pritika Engineering Components Ltd, a 70.81%-owned subsidiary of Pritika Auto Industries Ltd, led the production of these vital components.

CARE Ratings Ltd. recently reaffirmed stable credit ratings for both parent and subsidiary entities.

In order to increase its manufacturing capacity, Pritika Auto Industries has strategically used money obtained through a preferential equity share offering.

In order to further support expansion goals and lower debt, the company has also announced plans to issue right shares up to INR 49.90 crore.

Similar steps have been taken by Pritika Engineering Components, which has focused on debt reduction while strengthening its core business and expanding into the manufacturing of railway components by issuing right shares.

Escorts Kubota, Tractor & Farm Equipment, Mahindra & Mahindra, Ashok Leyland, Mahindra Swaraj, Swaraj Engines, Tafe Motors & Tractors (Eicher Tractors), Brakes India, SML ISUZU, Knott-Vortex Pvt Ltd, CNH Industrial (India) Pvt Ltd (New Holland Tractors), and International Tractors (Sonalika) are just a few of the major OEMs that the company has been able to establish partnerships with thanks to its wide network and pan-India presence.