Siyaram Recycling Industries Limited has successfully secured a purchase order worth ₹3.40 crore from Shree Extrusions Ltd., based in Jamnagar. This purchase order is a significant development for the company, aligning with its growth objectives and strengthening its position in the market.

As per the terms of the agreement, Siyaram Recycling is tasked with supplying 60 tons of brass scrap to Shree Extrusions Ltd. The order is expected to be completed within a tight timeline of 40 days, highlighting the company’s commitment to timely deliveries and operational efficiency.

This contract falls under domestic transactions, as it involves a domestic entity, Shree Extrusions Ltd., with no involvement from related parties, as confirmed in the disclosure. Siyaram Recycling has explicitly stated that the promoter or promoter group of the company does not have any interest in Shree Extrusions Ltd.

The value of the order, which stands at approximately ₹3.40 crore, reflects a substantial business opportunity for Siyaram Recycling and is expected to contribute significantly to its revenue pipeline. Furthermore, this purchase order adheres to the provisions outlined in the SEBI Listing Regulations, 2015, with the company ensuring full compliance in disclosing the contract’s terms.

No Related Party Transactions

The announcement also confirmed that this contract would not fall under related party transactions, ensuring transparency and aligning with SEBI’s arm’s length requirements. This adds an additional layer of credibility to the transaction, as it reflects proper corporate governance and compliance with SEBI Circular SEBI/HO/CFD/CFD-Pod1/P/CIR/2023/123 issued on July 13, 2023.

In conclusion, the ₹3.40 crore purchase order from Shree Extrusions Ltd. marks a key milestone in Siyaram Recycling’s business operations. The company’s ability to secure significant contracts like this not only enhances its revenue generation but also strengthens its reputation as a reliable supplier in the industry.

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