Company has received Letter of intent from M/s Vikran Engineering Limited for supply of Non DCR Topcon 620 WP Solar Module" worth Rs. 148.80 Crores.
Awaiting price reaction for this filing.
Onix Solar Energy has received a Letter of Intent from Vikran Engineering Limited for the supply of 1,93,550 Non DCR Topcon 620 WP Solar Modules valued at Rs. 148.80 Crore (excluding GST). The order is domestic and involves design, manufacture, factory acceptance, and supply of modules intended for Vikran's projects. The entire order is to be completed within 3 months from the date of manufacturing clearance granted by Vikran. The filing confirms the transaction is not a related party transaction and promoters have no interest in the order.
This is a sizable order for Onix Solar Energy that, if executed, could materially boost its near-term revenue and visibility in the solar module segment. Shareholders should note execution risk depends on timely manufacturing clearance from Vikran and completion within the 3-month window.