Intimation under Regulation 30 of SEBI (LODR) ,2015 of order received from PGVCL, Rajkot.
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Rajesh Power Services Ltd has received a turnkey contract worth Rs. 61.53 crore from Paschim Gujarat Vij Company Limited (PGVCL), Rajkot, a state-owned power distribution company. The order covers supply, installation, testing, and commissioning of 11 KV Medium Voltage Covered Conductor (MVCC) in the Porbandar Circle under the government's Kisan Suryodaya Yojana (KSY) Scheme. The contract is to be executed within 9 months. The order is domestic, with no promoter or related party interest, and was secured in the normal course of business.
This is a meaningful order win for the company from a government PSU, adding to its order book. The 9-month execution timeline means revenue recognition will be spread over the near term, providing revenue visibility. Positive for the company's growth outlook.