Lokesh Machines Limited has informed the Exchange about Bagging/Receiving of orders/contracts
LOKESHMACH · price
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Awaiting price reaction for this filing.
Lokesh Machines Limited has received an order worth Rs. 17,68,26,540 (approximately Rs. 17.68 crore) inclusive of GST from the Integrated HQ of Ministry of Defence (Army), New Delhi. The order is for the supply of modification kits for MMG (Gun Machine 7.62mm MAG), a medium machine gun. The order is a domestic supply order and is to be executed within 12 months from the effective date of the contract. There is no related party interest involved in the transaction.
This is a positive development as it strengthens the company's order book with a prestigious defence sector client and adds to revenue visibility over the next 12 months. Defence orders typically carry stable margins and could boost investor confidence in the company's growth prospects.