Announcement under Regulation 30 of SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015
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Awaiting price reaction for this filing.
Candour Techtex Ltd (formerly Chandni Textiles Engineering Industries Ltd) has received a Letter of Intent from ASK Apparels for job work in Coating and Lamination covering 26,00,000 metres. The contract is valued at Rs. 29 crores and is to be executed over a period of one year. The order has been awarded by a domestic entity, and there is no promoter or group company interest in ASK Apparels. The transaction is not a related-party deal and is done at arm's length.
This Rs. 29 crore order is a significant new business win for a small-cap company and is likely to provide meaningful revenue visibility over the next one year. The disclosure could act as a short-term positive trigger for the stock, though investors should note it is still a Letter of Intent and not yet a confirmed purchase order.