Lokesh Machines Limited has informed the Exchange about Bagging/Receiving of orders/contracts
LOKESHMACH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Lokesh Machines Limited has received an order worth Rs. 9,50,01,741 (approx. Rs. 9.5 crores, inclusive of all duties and taxes) from the Directorate General, Sashastra Seema Bal (SSB), under the Ministry of Home Affairs, Government of India. The order is for the supply of SMG (9x19mm Carbine) along with accessories and is to be executed within 180 days from the date of the Letter of Award. The order is purely domestic in nature and does not involve any related-party transactions. This marks a notable entry into the defence and homeland security supply segment for the company.
This government defence order adds a new and prestigious client to Lokesh Machines' order book and signals diversification into the defence/security manufacturing space. Positive for the stock in the short term, though the order size is modest, so the broader impact on earnings will depend on execution and follow-on orders.