M & B Engineering Limited (MBEL) has announced that it has successfully secured a sizable domestic contract, providing a boost to its order book.
The company, which is listed on the National Stock Exchange of India and BSE Limited , confirmed that the broad consideration, or size, of the new order is Rs. 98 Crores plus taxes.
This significant contract involves the Design, Engineering, Manufacturing, Supply, and Erection of a Pre-Engineered Steel Building.
M&B Engineering Ltd. stated that the contract was awarded by a domestic entity. However, the identity of the customer awarding the order cannot be disclosed by the company due to confidentiality requirements.
The execution of this substantial project is scheduled over a period of 6 months. In terms of financial agreements, the contract includes a 15% advance payment, along with other standard terms and conditions.
In compliance with market regulations, the company also provided clarification regarding stakeholder interest. M & B Engineering
Limited confirmed that neither the promoter, promoter group, nor any group companies have any interest in the entity that awarded the contract. Furthermore, the transaction does not fall under related party transactions.
The announcement of this contract was formally communicated to the stock exchanges (NSE and BSE) as a mandatory disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
PALAK DILIPBHAI PAREKH, the Company Secretary & Compliance Officer (M. No. F10209), signed the disclosure.
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