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Presstonic Engineering Secures ₹8.72 Crore Order from BEML for BMRCL Project
Team Finance Saathi
18/Dec/2024
What's covered under the Article
- Presstonic Engineering secures ₹8.72 Crore purchase order from BEML for BMRCL project.
- The order covers the supply of Grab Pole, Grab Rail, and Draught Screen Pole.
- Compliance with SEBI's Listing Obligations and Disclosure Requirements confirmed.
Presstonic Engineering Limited, a key player in the engineering sector, has announced a significant development concerning a purchase order from BEML Limited, a renowned public sector company. The order, received on December 18, 2024, is valued at ₹8.72 Crore (Net Value Excluding Tax), marking a major step forward in the company's business growth and operations.
The purchase order (BR01/RRD/9710008676/0/18.12.2024) involves the supply of several key products including Grab Pole, Grab Rail, and Draught Screen Pole for the Bangalore Metro Rail Corporation Limited (BMRCL)-5RSDM Project. This contract aligns with the company's strategic focus on supplying high-quality products for major infrastructure projects across India.
Project Details and Compliance with SEBI Regulations
The order from BEML is in accordance with the Technical Specifications and the Terms and Conditions outlined in the purchase order. Presstonic Engineering is now set to fulfill this significant order in line with the agreed delivery timelines and quality standards.
This order is an important addition to Presstonic's existing portfolio of contracts and represents an advancement in its engagement with the public sector. The supply of essential infrastructure components for BMRCL, a major metro rail project in Bengaluru, highlights the company’s role in the country's growing infrastructure sector.
In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this information has been officially disclosed to the National Stock Exchange (NSE). The company’s stock symbol is PRESSTONIC, and this disclosure is in accordance with the listing requirements.
Financial and Strategic Implications
This order from BEML will contribute significantly to Presstonic Engineering’s revenue stream for the financial year 2024. The total value of the order, ₹8.72 Crore, further strengthens the company's financial position and reflects the trust placed in Presstonic's products and services by key industry players.
For investors, this contract is a positive indicator of the company’s growth trajectory and increasing presence in large-scale infrastructure projects, especially in the metro rail and public transport sector. As BEML is a recognized leader in the engineering sector, this order enhances Presstonic’s credibility in the market and may pave the way for future collaborations.
Looking Ahead
The successful execution of this order could lead to more procurement opportunities for Presstonic Engineering, not only in the public sector but also in other major infrastructure projects across India. The company’s focus on technical excellence, quality, and timely delivery positions it as a preferred supplier for large-scale projects such as metro rail systems, smart city initiatives, and more.
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