Kranti Industries Limited has announced that it has received clearance from its esteemed customer, Carraro India Limited, to begin series production for parts developed for the CL2 and CL3 Projects. This significant development comes under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with disclosure requirements.

The company had developed four machine parts specifically for these projects in the financial year 2023-2024. With the customer’s approval, Kranti Industries is poised to begin mass production of these parts. The approval is expected to generate an estimated annual business of approximately ₹1 crore, significantly bolstering the company’s business prospects.

Details of the Contract:

1. Entity Awarding the Contract: Carraro India Limited, a domestic entity.
2. Nature of the Contract: The contract pertains to the production of machine parts, specifically Differential Housing for the CL2 & CL3 Projects.
3. Time Period for Execution: The execution timeline will be defined upon the issuance of the proposed Purchase Order (PO), which will outline the specific terms and conditions.
4. Commercial Size: The estimated value of the contract is ₹1 crore.
5. Interest of Promoters: There is no interest from the promoters or their group companies in Carraro India.
6. Related Party Transaction: The contract does not qualify as a related party transaction and is being conducted at arm's length.

This series production clearance is a major milestone for Kranti Industries, strengthening its position in the machine parts sector and expected to enhance its revenue stream from this domestic order. As per the terms, the company will now await the formal Purchase Order to proceed with the production and supply of parts for the specified projects. This development reflects Kranti Industries' continued growth and its ability to secure significant contracts in the competitive manufacturing landscape.

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