Trishakti Industries gets ₹5.25 Crore order from Jindal Stainless

Trishakti Industries Limited has received an order from the largest manufacturer of stainless steel in India Jindal Stainless Limited The order, worth ₹52.5 million (₹5.25 crore), is for supply of modern heavy machinery for Jindal’s new steel unit.

The development was disclosed by Trishakti Industries to stock exchanges under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR), 2015.

Project Highlight:

According to its deal with the latter, Trishakti Industries will supply high-capacity and customised machines for the former’s Jindal Steel project. Work on the contract will start immediately and is scheduled to be finished in 2 months.

Strategic Significance

“This order from Jindal Stainless reiterates our business relationship and also exhibits our gradually expanding abilities towards the increasing support for the large-scale industrial base” added Mr. Dhruv Jhanwar, Executive Director & CEO, Trishakti Industries Limited. We expect some improvement in our operational performance in the next few quarters.”

This new relationship highlights Trishakti Industries’ commitment to serving the modernization efforts of India’s growing construction, industrial and manufacturing sector with state-of-the-art, dependable equipment.

Commercial Details

• Order Size: ₹52.5 million
• Contract Duration: 2 months
• Nature of Work: Supply of advanced heavy machinery
• Client: Jindal Stainless Limited
• Related Party Involved: None
• Method of Award:  Domestic Contract

It’s clarified that there is no transaction between related parties and the said transaction is on arm’s length basis in the ordinary course of the business and was determined and approved based on the prevailing market price and on commercial terms.

About Trishakti Industries Ltd.

With its presence in BSE and the Calcutta Stock Exchange itself, the Company specialises in industrial solutions and supply of equipment, and serves large infrastructure as well as engineering projects across the country. The company has established a reputation for quality and execution excellence.

Disclaimer: This content is only for informational purpose. It does not make any recommendation to act or invest. The content is based on highly reliable resources. Still if there is any error it is deeply regretted. Write to us for getting any error corrected.

Source: https://www.bseindia.com/xml-data/corpfiling/AttachLive/6e6f6cf2-0148-402b-a11e-00f8d5adf396.pdf