The Company has entered into supply contract with Indian Army, Ministry of Defence, Government of India for a total consideration of Rs. 292.69 Cr
NIBE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
NIBE Limited has won a Rs. 292.69 crore supply contract from the Indian Army, Ministry of Defence, Government of India. The contract covers manufacturing and supply of ground equipment, accessories, ESP, and ammunition for a Universal Rocket Launcher System capable of striking targets at ranges of 150Km and 300Km. The order is domestic and will be executed in tranches over 12 months. The company must furnish a 10% performance-cum-warranty bank guarantee within 30 days of signing. No promoter group or related party has any interest in the awarding entity.
This is a sizeable domestic defence order that materially strengthens NIBE Limited's order book and provides strong revenue visibility for the next 12 months. Given the scale relative to the company's size, it should positively drive earnings and reinforce its credentials as a defence equipment supplier to the Indian Army.