The Chennai-based company manufactures fabricated metal products. The company specialises in cycles, steel tubes, strips, chains, and metal formed items. Shares of the company grew 134% in the last one year.
In November, the company signed an agreement to acquire about 25% stake in a Indian Institute of Technology (IIT), Madras incubated startup that is engaged in the development of micro gas turbine technology for power generators and automotive application. The proposed investment is in line with the company's intent to invest in start-ups engaged in innovative research and product development in fields/activities of interest to the company.
Its consolidated net profit in September quarter had risen 69.77% to ₹168.48 crore.