Mumbai, January 7, 2019: Hind Rectifiers Limited, also known as Hirect, has bagged orders worth Rs 88.05 crore in December 2018. The company manufactures highly technical and strenuously engineered products using dynamic tools, leading-edge technology and nonpareil design.
This includes substantial orders from Diesel Locomotive Works worth Rs 61 crore. With these order wins, the company has a strong all-time high pending order book of Rs 292.92 crore.
Commenting on the order, 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 per cent. 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.