The Company received an order worth Rs. 13.77 Crore from Indian Oil Corporation Limited
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TPI India Ltd has won a domestic order worth Rs. 13.77 Crore from Indian Oil Corporation Limited (IOCL), one of India's largest public sector oil companies. The order is for manufacturing and supply of FIBC bags (Flexible Intermediate Bulk Containers). The contract is to be executed over a period of 2 years. The order is domestic, has no related party implications, and there is no promoter interest in the awarding entity. This adds to TPI India's order book and provides revenue visibility from a highly creditworthy PSU counterparty.
Positive development for the small-cap company as it secures a sizeable order from a blue-chip government PSU, lending credibility and providing multi-year revenue visibility. However, the absolute size is modest and execution over 2 years means revenue accretion will be gradual.