Suprajit Engineering (SEL) added 2.99% to Rs 464.45 after the company signed memorandum of understanding (MoU) with Chuo Spring Company, Japan (Chou) to extend the reach of Chuo's special transmission cable technology to India.
Chuo is a leading Japanese transmission cable maker and supplies to the worlds leading Japanese OEMs. Chuo has a global footprint with plants in US, China, Indonesia, and Thailand and consolidated revenue $675 million.This collaboration includes a 50:50 joint venture (JV) in India to design, manufacture, and supply transmission cables, and a technical assistance (TA) agreement, which grants JV access to Chuos unique Japanese Transmission cable technology.
The collaboration brings together two globally recognised cable suppliers. It extends the reach of Chuos special Transmission cable technology to India and may further support Suprajits global OEM customers. The collaboration further expands SELs product range to key Japanese customers, and the transmission cable market, going forward.
Suprajit Engineering is engaged in the business of manufacturing of auto components consisting mainly of control cables, speedo cables, auto lamps and other components for automobiles and caters to both domestic and international markets.
The company reported 98.65% decline in consolidated net profit to Rs 0.48 crore in Q2 FY25 as compared with Rs 34.76 crore in Q2 FY24. Revenue from operations jumped 17.6% YoY to Rs 833.60 crore during the quarter.
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