Intimation of receipt of letter of award of order worth Rs. 28.58 Crores (incl. taxes) from Vedanta Aluminium Metal Limited
TEXRAIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Texmaco Rail & Engineering Ltd has received a Letter of Award from Vedanta Aluminium Metal Limited for Rs. 28.58 Crores (including taxes). The order is for the supply of 1 rake BTAP Alumina transportation wagon and 1 brake Van (Guard Vehicle). This is a domestic order from a private sector company, not a related party transaction. The order is to be executed within 6 months from the date of Notice to Proceed. The company has confirmed that neither the promoter/promoter group nor group companies have any interest in Vedanta Aluminium.
This is a positive development as the company secures a new manufacturing order, though the value appears modest relative to its typical revenue scale. The order execution timeline of 6 months suggests revenue recognition will occur within the current fiscal year.