Aarvi Encon Secures ₹30.63 Crore Mahanagar Gas Order; Shares Fall 0.27%

Mumbai, August 20: Aarvi Encon Limited has secured a ₹30.63 crore work order from Mahanagar Gas Limited for providing manpower services at CNG stations, adding a three-year engagement to its energy-sector business.

Aarvi Encon Lands Three-Year Mahanagar Gas Contract

The order, disclosed by Aarvi Encon to the stock exchanges on August 20, 2026, is worth ₹30,63,27,576, excluding applicable taxes. The contract covers manpower services and will be effective from September 1, 2026, to August 31, 2029.

Mahanagar Gas is the entity awarding the contract. The order is classified as a domestic contract, and Aarvi Encon said the promoter and promoter group have no interest in the awarding entity. The company also confirmed that the transaction does not fall under the related-party category.

The contract is significant for Aarvi Encon because it extends across three years rather than being a short-duration assignment. The company said the work order further strengthens its presence in the technical manpower services segment and reinforces its relationship with organisations operating in the energy and infrastructure sectors.

There is also a clear fit with Aarvi Encon’s existing business. The company provides technical manpower, engineering, operations and maintenance services across sectors including energy, oil and gas, petrochemicals, power and infrastructure.

Stock Market Snapshot

Aarvi Encon share price was at ₹155.39 as of 2:54 pm IST on August 20, 2026, according to the market data provided. The stock was down ₹0.42, or 0.27%, at the time.

The day’s chart shows a relatively quiet trading session. The shares moved within a narrow band around ₹155 for much of the day, with the stock ending the displayed period only marginally below the previous level.

The contract announcement therefore did not result in a sharp immediate reaction in the shares. The company has not attributed the day’s price movement to the order.

Mahanagar Gas Order Deepens Aarvi Encon’s Energy Exposure

The latest contract adds another layer to Aarvi Encon’s relationship with the energy sector. The company has built its business around supplying skilled technical manpower and engineering services to industrial and infrastructure customers.

For Mahanagar Gas, the requirement relates to manpower services at CNG stations. Mahanagar Gas operates a city gas distribution network covering Mumbai and adjoining areas, with CNG and PNG serving transportation, industrial, commercial and residential customers.

For Aarvi Encon, the three-year tenure is particularly relevant. Instead of adding a single project with a short execution window, the order creates a longer operating engagement that runs through August 31, 2029.

₹30.63 Crore Order Adds Longer-Term Revenue Visibility

The ₹30.63 crore contract gives Aarvi Encon a sizeable order in its core manpower services business, with execution scheduled to begin on September 1, 2026.

The company has not disclosed any further financial guidance or expected margin from the contract. It has, however, described the order as strengthening its technical manpower segment and its relationship with leading organisations in the energy and infrastructure sectors.

With Aarvi Encon shares down 0.27% at ₹155.39 as of 2:54 pm IST, the immediate market response remained muted. The more tangible takeaway from the filing is the addition of a three-year Mahanagar Gas engagement to the company’s order book.

Source:

• https://www.nseindia.com/get-quote/equity/AARVI/Aarvi-Encon-Limited