We are pleased to inform that the Company has bagged a Purchase order that marks a significant breakthrough for the Company.
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Cryogenic OGS Ltd has secured a purchase order worth Rs. 1.32 crores from ABB India Ltd for the supply of density probes used in above-ground and underground tanks. This marks the company's first-ever order for density probes, described as a significant breakthrough in its specialized instrumentation and automation capabilities. The end user of the order is Indian Oil Corporation Limited (IOCL) at its Mangalore facility. Delivery is expected within 24 to 28 weeks, and the order is domestic with no related party interest involved.
This order opens up a new product line for Cryogenic OGS and validates its capability in density measurement instrumentation, which could lead to more orders from oil marketing companies. For shareholders, it's a positive development indicating business expansion, though the Rs. 1.32 crore order size suggests limited immediate financial impact.