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 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%."
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