Hind Rectifiers Ltd. bags orders of Rs. 88.05 crores
Deepthi | Myequity news | Date : 08-01-2019 15:45:00 IST
Hind Rectifiers Limited, popularly known as HIRECT has bagged orders of Rs. 88.05 crore in December 2018. This includes substantial orders from Diesel Locomotive Works worth 61 crores.
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.
About Hind Rectifiers Ltd.
Incorporated in 1958 in collaboration with UK based Westinghouse Brake & Signal. Hind Rectifiers Limited, popularly known as HIRECT manufactures highly technical & strenuously engineered products such as Rectifiers, Transformers, Active Harmonic Filters, Static Stabilisers, Converters, Power Electronics and Semiconductor Devices using dynamic tools, leading-edge technology & nonpareil design. These products are made primarily for the Railways and a diverse segment of Industrial Applications. Apart from Electrical, Mechanical, Electro Mechanical and Electronic products, Hirect, has also ventured into designing their own Software, thereby providing the customers with an absolute end to end solution that are tailored to their liking.