The board of directors of Sunita Tools Limited at its meeting held on March 4, 2024, approved incorporation of a subsidiary company in India as private limited company. The company announced the establishment of its new subsidiary dedicated to the manufacturing of defense and aerospace parts and components. This strategic move signifies Sunita Tools Limited's commitment to diversifying its offerings and tapping into new markets with specialized expertise.

The establishment of the new subsidiary underscores Sunita Tools Limited's strategic vision to expand its portfolio into high-growth sectors such as defense and aerospace. This move allows the company to leverage its expertise in precision engineering to cater to the unique needs of these industries. The new subsidiary will establish strategic partnerships with key players in the defense and aerospace industries, facilitating collaboration and knowledge exchange to stay at the forefront of technological advancements and industry best practices.

The company anticipates that this expansion will not only bolster its production capabilities but also generate employment opportunities and contribute to the economic development of the region. Furthermore, the move to utilize subsidiary for manufacturing operations reflects a strategic approach to ensuring operational continuity and efficiency.