Siyaram Recycling Industries Limited, a leading company in the recycling industry, has announced that it has received a significant purchase order from Greenland Trading Pvt. Ltd., based in Hong Kong. This order is for the export of 200 tons of brass billets to China, valued at approximately USD 1.2 million (around INR 10.35 Crore). The order is a major development for Siyaram Recycling Industries as it continues to expand its global reach.

Details of the Purchase Order

As per the disclosure under Regulation 30 of the SEBI Listing Regulations, 2015, the company has outlined the specifics of the contract:

1. Awarded Entity: The purchase order has been awarded by Greenland Trading Pvt. Ltd., an international entity based in Hong Kong.

2. Nature of the Order: The order involves the supply of 200 tons of brass billets, which will be exported to China. This reflects Siyaram Recycling Industries' focus on expanding its market presence and business operations across international borders.

3. Order Value: The total contract amount for the order is USD 1,200,000 (approximately INR 10.35 Crore). This large-scale contract adds significant revenue to the company's financial outlook for the coming period.

4. Delivery Timeline: The order is expected to be fulfilled within 45 days, emphasizing the company's efficient operational capabilities in meeting tight deadlines for international exports.

5. Related Party Transactions: The company clarified that this order is not part of any related party transactions, ensuring transparency and compliance with relevant regulations. There is also no promoter or group company interest in the entity that awarded the order, thus assuring that the deal is conducted at arm’s length.

Implications for Siyaram Recycling Industries

This major order comes at a time when Siyaram Recycling Industries is actively working towards diversifying its portfolio and building its presence in the international market. The company’s strong operations, especially in the recycling and export of metal products, have contributed to its ability to secure high-value contracts from international buyers.

Strategic Focus on International Markets

With this order, the company strengthens its global export strategy, particularly focusing on markets like China, a leading consumer of raw materials such as brass billets. The deal with Greenland Trading Pvt. Ltd. underscores Siyaram Recycling Industries' ability to cater to the global demand for high-quality metal products.

Compliance with SEBI Regulations

The company has fully complied with the Securities and Exchange Board of India (SEBI) Listing Regulations, 2015, in disclosing this material event. The disclosure adheres to Regulation 30 of the SEBI Listing Regulations, and the necessary details have been provided as per the requirements of SEBI Circular SEBI/HO/CFD/CFD-Pod1/P/CIR/2023/123, issued on July 13, 2023.

By offering a comprehensive breakdown of the order, the company has demonstrated its commitment to transparency and regulatory compliance, ensuring stakeholders are well-informed about major business developments.

Conclusion

The purchase order from Greenland Trading Pvt. Ltd. marks an exciting chapter for Siyaram Recycling Industries Limited, signaling both growth and international expansion. This order not only represents a financial milestone but also underscores the company’s ability to cater to a global market. With this order now disclosed in compliance with SEBI regulations, investors and stakeholders can expect Siyaram Recycling Industries to continue its positive trajectory, bolstered by strong international contracts and operational excellence.

The Upcoming IPOs in this week and coming weeks are Aten Papers & Foam.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.