Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, Please find enclosed herewith a copy of Press Release.
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Accord Transformer & Switchgear Ltd has signed a non-binding Memorandum of Understanding with the Western Administrative District of the City of Moscow, Russia, on March 22, 2026. The MOU covers cooperation in energy infrastructure (supply, installation, and commissioning of transformers and switchgear), manufacturing tie-ups including local assembly units in Moscow, EPC projects for substations, and technology and skill exchange. The company, which manufactures transformers and switchgear from its Bhiwadi (Rajasthan) facilities, sees this as a step toward international expansion. The MOU is non-binding and represents intent rather than confirmed orders.
This is a strategic intent announcement rather than a concrete business win, since the MOU is explicitly non-binding. For shareholders, it signals management's global expansion ambitions and could generate positive sentiment, but actual revenue impact will depend on converting this framework into firm contracts and projects.