Tirupati Forge to add new US-based client, revenue to rise about 30%
The company will start the supply of goods in mass by the year 2023, the company said in the regulatory filing with the National Stock Exchange (NSE).
Tirupati Forge Limited has announced the addition of a new US based client in its clientele. The company has made this announcement via a regulatory filing. In this exchange filing, the company said that it has received an approval from a US company to buy a mass quantity of flanges, forged fittings and other components.
The company will start the supply of goods in mass by the year 2023, the company said in the regulatory filing with the National Stock Exchange (NSE). However, the filing, somehow, did not disclose the name of the US based entity but told that the approval will push up its revenue bye 25 percent to 30 percent in the next one year.
"We are pleased to inform you that the Company has received approval from the USA top leading company to buy a mass quantity of Flanges, Forged Fittings and other components and they also appreciated the present setup and facilities of our company," said the filing.
"Accordingly, our company will start the supply of goods in mass for the year 2023, which may result in an increase of approximately 25 to 30% in revenue due to the addition of new customers," it added.
Tirupati Forge is engaged in the business of manufacturing carbon steel forged flanges, forged components and other automotive components.
For the quarter ended on September 30, 2022. The NSE listed entity reported a net profit of Rs 4.25 crore with a revenue of Rs 26.53 crore.
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