Sharika Enterprises Limited has successfully secured significant purchase orders from JSW Renew Energy (Kar) Limited and JSW Renew Energy Three Limited, marking a notable milestone for the company. These orders, totaling ₹8.29 Crore, pertain to the installation and commissioning of underground cables for key renewable energy projects in Karnataka and Maharashtra.

The orders received are part of JSW Renew Energy’s ongoing efforts to enhance its infrastructure and renewable energy projects. These contracts encompass both the supply of underground cables and installation and commissioning of cables in various project sites. Specifically, the order for the Kudaligi (Karnataka) and Lohara (Maharashtra) projects amounts to significant business for Sharika Enterprises, as it continues to strengthen its position in the market for power infrastructure solutions.

Order Breakdown

The purchase orders are structured as follows:

• JSW Renew Energy (Kar) Limited awarded a contract for installation & commissioning of underground cable at the Kudaligi KA project and the supply of underground cable at the same project, valued at ₹4.17 Crore.
• JSW Renew Energy Three Limited has awarded two contracts: one for the supply of underground cable at the Lohara MH project (₹2.99 Crore) and the other for installation & commissioning at the same site, also worth ₹1.12 Crore.

These orders are significant, not just because of their value, but also due to their strategic relevance in the renewable energy sector. With the Kudaligi and Lohara projects being central to the ongoing renewable energy expansion in India, Sharika Enterprises is poised to enhance its contribution to the energy transition.

Contractual and Execution Details

The orders are set to be executed within a timeframe of 3-4 months from the advance payment date. As per the agreements, Sharika Enterprises is tasked with delivering underground cables and completing installation and commissioning services. The company has committed to fulfilling all obligations within the stipulated time, ensuring that these projects proceed as planned.

In compliance with the SEBI Listing Obligations and Disclosure Requirements, Sharika Enterprises has disclosed these purchase orders under Regulation 30 of the SEBI regulations, ensuring full transparency for its shareholders and the public. The SEBI circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123, dated July 13, 2023, has been referenced in this disclosure, emphasizing the company’s commitment to timely reporting and adherence to the regulatory framework.

Further Information

As required by the regulations, Sharika Enterprises has clarified that there is no relationship between the company’s promoters or group companies and the entities awarding the orders. Additionally, the orders will not fall under the category of related party transactions, ensuring that all dealings are in line with corporate governance standards.

These purchase orders are a clear indication of the company’s growth trajectory and its expanding role in the infrastructure and energy sectors. Investors and stakeholders will likely view this as a positive signal, reflecting the company’s capability to secure and execute large-scale projects.

Sharika Enterprises continues to stay committed to regulatory compliance, ensuring that all disclosures meet the SEBI Listing Regulations and providing full transparency on significant events and orders. This proactive approach helps maintain investor confidence and aligns with the company’s corporate governance standards.

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