TD Power Systems has signed a five-year contract to supply traction motors to Europe, anticipating a business volume of Rs 300 crore from the agreement. The initial order, worth Rs 18 crore, is scheduled for delivery in April 2025. Shares of the company rose over 2% in mid-day trading on October 21 following the announcement.
The company sees significant growth potential in the overseas market, driven by increasing demand in sectors such as gas engines, gas turbines, and renewable energy. TD Power has strategically focused on exports, which account for 57% of its order inflows for FY24.
Additionally, TD Power’s recent wins include two international gas engine generator orders worth Rs 142 crore. The company’s stock has surged 71% over the past year, reflecting its expanding market presence and robust financial performance.
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Source: Moneycontrol
News Desk
