Lords Mark Industries wins CREDA order for solar lighting systems

Lord's Mark Industries Limited has secured a significant order from the Chhattisgarh State Renewable Energy Development Agency (CREDA) to supply and install Solar Home Lighting Systems across the state. The company's Lighting Division achieved the lowest bidder (L1) status and formally accepted the Letter of Offer from the state government agency. This project expands the company's market footprint in the renewable energy and lighting infrastructure sector.

The contract entails the supply, installation, and commissioning of Solar Home Lighting Systems with a minimum capacity of 300 Wp. The agreement includes a 5-year Comprehensive Maintenance Contract (CMC) and an onsite unconditional warranty. The execution will follow standard project timelines stipulated by CREDA once the agreement process is finalized.

Financial and Contractual Details

The order details were disclosed in a regulatory filing submitted to BSE Limited. The breakdown of the approved L1 unit rate is provided in the table below.

Particulars	Details
Entity awarding the order	Chhattisgarh State Renewable Energy Development Agency (CREDA), Government of Chhattisgarh
Nature of order	Government Contract for Renewable Energy & Lighting Infrastructure
Approved L1 Unit Rate	INR 47,625 (excluding GST) per system
Supply of Material	INR 42,000
Installation & Commissioning	INR 1,750
5-Year CMC	INR 3,875

Strategic Implications

Management highlighted that securing the L1 status underscores the company's competitive cost efficiencies, robust supply chain, and advanced engineering capabilities in the clean energy space. The project covers the entire state of Chhattisgarh, marking a strategic expansion for the Lighting and Renewable Energy Division. The company confirmed that it has accepted the offer and is currently completing the formal contract agreements within the stipulated timelines.

Lord's Mark Industries Limited has initiated the process for listing and trading of 10,28,483 equity shares issued to Bennett Coleman and Company Limited (BCCL) at a conversion price of ₹158 per equity share. This move follows the company's undertaking before the Hon'ble High Court of Delhi in the matter of BCCL vs. Lord's Mark Industries Limited & Ors. The valuation at which BCCL sought to convert its share entitlement is viewed as a significant indicator of institutional confidence in the company's long-term strategy and business fundamentals.

Transaction Details

The issuance stems from a Share Cum Warrant Subscription Agreement dated August 1, 2023. As recorded before the Delhi High Court, BCCL is entitled to the shares at the agreed price, which Lord's Mark Industries Limited has honoured. The company has now commenced the necessary regulatory formalities with BSE Limited to facilitate the listing of these shares.

Parameter	Details
Entity	Bennett Coleman and Company Limited (BCCL)
Shares Issued	10,28,483 equity shares
Conversion Price	₹158 per equity share
Agreement Date	August 1, 2023
Exchange	BSE Limited

Management Commentary

Sachidanand Upadhyay, Managing Director of Lord's Mark Industries Limited, stated that the value of a company is reflected in the confidence reposed by credible institutions. He emphasized that honouring the commitment to BCCL at ₹158 per share reflects confidence in Lord's Mark's vision and growth potential. The company remains focused on building a future-ready enterprise and creating sustainable value for shareholders.

Regulatory Compliance

The application for listing and trading approval is currently under process. Lord's Mark Industries Limited affirmed its commitment to honouring contractual obligations and ensuring timely compliance with all applicable statutory and regulatory requirements. Further updates regarding the receipt of approval will be intimated to the exchange in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.