Remsons Industries Limited has informed the Exchange about Awarding of order(s)/contract(s)
REMSONSIND · price
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Awaiting price reaction for this filing.
Remsons Industries' step-down subsidiary, Remsons Automotive Ltd, has received a Letter of Intent/Purchase Order worth INR 80 crore from Ford Otosan, Ford's Turkish automotive operations. The order is for the supply of Spare Wheel Winches and is to be executed over a 10-year period. Ford Otosan is an international entity, making this an export contract. The filing confirms there is no related-party interest and the order was awarded at arm's length.
A long-tenor (10-year) export order of INR 80 crore provides strong multi-year revenue visibility and strengthens the company's credentials with global OEMs. Positive signal for the business, though revenue accretion will be spread over the contract period.