Announcement under Regulation 30 of SEBI (LODR) Regulation, 2015
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Candour Techtex has received its first major Letter of Intent (LOI) from Faze Three Limited for Coating & Lamination job work at its Malegaon plant. The contract is valued at approximately Rs. 20 Crores per annum for a period of one year. It covers roughly 8 to 10 lakh meters per annum spread across 3 programs. While the contract is with a domestic entity, the finished products will be re-exported overseas. The order is not a related party transaction and promoters have no interest in the awarding entity.
This is a positive development for Candour Techtex as it marks the first major order for its new Malegaon coating & lamination facility, providing meaningful annual revenue visibility and validating the plant's commercial potential.