Prime Highlights:
India’s automobile industry is worth more than US$100 billion and accounts for 8% of the country’s total exports and 7.1% of India’s GDP.
Incorporated as a Private Limited Company in 1985, Suprajit Engineering Limited started producing high-quality liner cables to exacting Japanese standards for the automotive sector in 1987.
Key Facts:
Suprajit Engineering incorporated a new company, Suprajit Chuhatsu Control Systems in India for the manufacture and trade of automobile components.
This new subsidiary will specialize in manufacturing control cables, transmission cables, and related mechanisms for the automobile industry. Both the home market and the export markets will be targeted.
Suprajit Chuhatsu Control Systems has its authorized capital of Rs 1 lakh.
Key Background:
Suprajit Engineering has acquired a new subsidiary, Suprajit Chuhatsu Control Systems of India. This strategic move enhances the company’s capability relative to the automotive industry on account of the production and trading of crucial control cables, transmission cables, and other allied mechanisms. The said products are going to cater to the country’s automotive markets besides export orders.
This new company, with an authorized capital of Rs 1 lakh, is engaged in the production and supply of critical auto components. Such development appears to be one step by Suprajit Engineering towards enhancement of the competitive position through expansion of business in the automotive component market segment of this company in the world scenario.
Suprajit Engineering is one of the companies well-known in the industry for making all kinds of auto parts. These are control cables, speedometer cables, auto lamps, and so many more essential car parts. Its domestic as well as international markets cater to its vast range of customers. It will establish Suprajit Chuhatsu Control Systems to cater for the growing demand of good automobile parts that can bring new, innovative solutions, and high-performance products to clients.
Notably, as such, Suprajit Engineering reported a deep fall in consolidated net profit during Q2 FY25. Consolidated net profit came crashing down by 98.62% from the same period last fiscal Rs 34.75 crore at Rs 0.48 crore. The dip did not deter its revenue, however, which climbed by 17.59% to Rs 833.59 crore year on year.The market welcomed the news of subsidiary incorporation. On December 27, 2024, Suprajit Engineering shares rose by 0.11% and closed at Rs 464.30.