M M Forgings Ltd, a leading car parts manufacturer, plans to invest $300 million to expand production and capitalise on upcoming development prospects.
The Chennai-based firm finished FY22 with its highest-ever turnover of 1,123 crore, up from 747 crore in FY21, and a profit after tax of 92 crore (47 crore), thanks to strong sales in the medium and heavy truck segments.
M M Forgings is predicted to gain from the cyclical upswing in US Class-8 trucks, while demand in the domestic commercial vehicle industry is likely to strengthen further on the basis of a resurgence in economic activity led by building, cement, and allied industries.
