Marine Electricals Secures ₹229.73 Crore Orders for Power Distribution Systems
Marine Electricals (India) Limited has secured new orders worth ₹229.73 crores (excluding taxes) from Digital Edge DC (India) Private Limited. The orders are for power distribution systems, with delivery expected over 15 months.
The order value of ₹229.73 crores is substantial and is expected to contribute positively to the company's revenue and growth, impacting its financial performance.
The company has announced the receipt of significant new orders, which is a positive development for its business.
Marine Electricals (India) Limited has announced the receipt of significant orders totaling ₹229.73 crores (excluding taxes) from Digital Edge DC (India) Private Limited. These orders are for the supply of power distribution systems.
The delivery of the ordered goods is scheduled to be completed within a period of 15 months.
The company has clarified that none of its Promoters or Promoter Group have any interest in these orders, and the contract does not fall under related party transactions. This disclosure is being made as part of the company's commitment to good corporate governance.
A plain-language summary of a public exchange filing by Marine Electricals (India) Limited. Read the original for the full detail.