Mumbai, January 7, 2019: Hind Rectifiers Limited, popularly known as HIRECT, manufactures highly technical & strenuously engineered products using dynamic tools, leading-edge technology & nonpareil design has bagged orders of Rs. 88.05 crore in December 2018.
This includes substantial orders from Diesel Locomotive Works worth 61 crores. With these order wins, the company has a strong all time high pending order book of Rs. 292.92 crore.
Commenting on the order, Mr. Suramya Nevatia, CEO, Hind Rectifiers Ltd. said, “The orders booked are for a new product which was launched last year. Through backward integration, the company is able to substantially reduce import cost for the product, thereby helping the product margin to be upwards of 10%.
The Company is highly focused on R&D and the future of Hirect is power packed with innovation and diversification.”
Hirect is gradually transforming from being just a cost effective manufacturing company to an indigenous technology company.
With India being at the crux of infrastructural and transportation growth, there are exponential possibilities, and Hirect will be capitalising on all the right ones.
