Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015: Receipt of Work Order by M/s. Adyal L.I.S. (JV)
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Sobhagya Mercantile Ltd, through its joint venture M/s. Adyal L.I.S. (in which the company holds 40% and S.S. Fabricators & Manufacturers holds 60%), has received a work order from Vidarbha Irrigation Development Corporation, a government entity based in Nagpur. The order is for construction of the Adyal Lift Irrigation Scheme under the Gosikhurd Project in Taluka Bramhapuri, District Chandrapur, Maharashtra. The total contract value is Rs. 260,53,36,041 (around Rs. 260.53 crores), with the project to be completed within 33 months. The JV has deposited an initial security of Rs. 2.61 crores as a bank guarantee and signed the agreement on June 9, 2026. The order is domestic, not a related party transaction, and there is no promoter interest in the awarding entity.
Positive for the company as it secures a sizeable government infrastructure order, providing multi-year revenue visibility. The company's effective economic share is roughly Rs. 104 crores (40% of the JV). Government-backed irrigation projects carry lower counterparty and payment risk, though execution and timeline risks remain over the 33-month project period.