Om Power Transmission has secured an order worth ₹18.50 crores from SAEL Industries Limited for the execution of a single circuit 220kV transmission line. The contract encompasses the supply, erection, stringing, testing, and commissioning of the transmission line on DC towers, connecting the proposed SAEL 240 MW Solar Power Plant at Sipur to the Dhama Substation. This project is expected to be executed within a period of eight months from the date of the Letter of Award (LOA).

Order Details

The order, awarded by a domestic entity, falls outside the scope of related party transactions, with no interest declared by the promoter or group companies in the awarding entity. The total consideration for the contract stands at ₹18,50,34,500, excluding Goods and Services Tax (GST). The disclosure was made to the exchanges in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Contract Breakdown

The company confirmed that the transaction is not a related party transaction and was conducted at arm's length.

om power transmission has received an order from the Office of the Deputy Commissioner, State Tax, Ahmedabad, directing the reversal of Input Tax Credit (ITC) amounting to ₹11,60,838. The order, dated May 27, 2026, was received by the company on May 30, 2026. The directive pertains to the alleged incorrect availment of ITC by the company for Financial Year 2015-16 under the applicable provisions of the Gujarat Value Added Tax Act, 2003.

The disclosure was submitted to the exchanges pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the financial implication of the order is limited to the reversal of the specified ITC amount. Furthermore, Om Power Transmission stated that the order does not have any material impact on the operations or other activities of the company.

Details of the Tax Order

The order specifically addresses the violation of provisions related to the availment of tax credits during the specified financial period. The authority has determined that the ITC claimed was incorrect, necessitating the reversal of funds.