Divgi TorqTransfer Systems shines on bagging orders from North American manufacturers
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Divgi Torqtransfer Systems is currently trading at Rs. 942.50, up by 10.40 points or 1.12% from its previous closing of Rs. 932.10 on the BSE.
The scrip opened at Rs. 949.45 and has touched a high and low of Rs. 953.90 and Rs. 937.00 respectively. So far 1100 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 1149.00 on 13-Oct-2023 and a 52 week low of Rs. 557.20 on 14-Mar-2023.
Last one week high and low of the scrip stood at Rs. 960.00 and Rs. 920.05 respectively. The current market cap of the company is Rs. 2891.46 crore.
The promoters holding in the company stood at 60.48%, while Institutions and Non-Institutions held 28.65% and 10.87% respectively.
Divgi TorqTransfer Systems has received order confirmations for three components from two marquee Tier I North American manufacturers of Gearboxes and Transmissions. These are precision forged and machined components for the passenger and Light commercial vehicles. The annual value of these orders is around Rs 42.5 crore (based on current forex rate). As indicated by the customers, after successful trials, the mass production of these parts will commence during FY 2024-25.
Earlier, the company has also been awarded an order worth Rs 46.9 crore from the same customer. With award of the new orders, the annual order book with these customers has crossed Rs 89.4 crore. The life-cycle revenue of both the businesses is Rs 212.1 crore over a period of 5 years.
Divgi Torqtransfer Systems is one of the leading players supplying transfer case systems to automotive OEMs in India and the largest supplier of transfer case systems to passenger vehicle manufacturers in India.
