Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Coromandel Engineering Company has secured two domestic work orders worth Rs. 134 Crores (excluding taxes). The first is a Rs. 93 Crore contract from Sivanesh Bagerathi Enterprises for construction of residential apartments, to be completed within 30 months. The second is a Rs. 41 Crore contract from Sri Lakshmi Ammal Educational Trust for construction, repair, and renovation of a hostel building, with a 15-month construction timeline and 3-month renovation timeline. Both are domestic orders.
This order win adds to the company's order book and provides revenue visibility over the next 15-30 months. However, shareholders should note that the Rs. 41 Crore contract from Sri Lakshmi Ammal Educational Trust is a related party transaction, as the company's Promoter has significant interest in that entity, though it is being carried out at arm's length basis.