United Heat Transfer has secured an international purchase order from National Compressed Air Canada Ltd for the manufacturing and supply of a Moisture Separator. The order, valued at USD 67,356 (approximately INR 64,05,785), involves supplying the equipment to the client's plant located in Canada. The contract is scheduled for execution with a delivery deadline of December 18, 2026.

The disclosure was made to the National Stock Exchange of India Ltd in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The order was awarded by an international entity, and the transaction is not classified as a related party transaction. The company confirmed that the promoter, promoter group, or group companies hold no interest in the entity awarding the order.

Order Details

The significant terms and conditions of the order specify a stage payment structure. The nature of the contract is strictly for the manufacturing and supply of the Moisture Separator. The consideration amount is based on the prevailing exchange rate at the time of the order.

United Heat Transfer has executed a deed of hypothecation with Saraswat Co-operative Bank Limited to secure a working capital term loan facility of ₹2.47 Crore. The loan agreement, dated June 24, 2026, carries an interest rate of 9.00% per annum and is repayable over 60 months, including a 12-month moratorium period. The facility is secured against the company's current assets, stock, book debts, and plant and machinery located at its manufacturing facilities in Nashik, Maharashtra.

The Board of Directors of United Heat Transfer approved the investment in 5,00,000 equity shares of Saraswat Co-operative Bank on June 23, 2026, to comply with the bank's share-linkage requirements. This subscription, amounting to ₹50,00,000, is mandated by the RBI Master Circular on Prudential Norms on Capital Adequacy for Primary (Urban) Co-operative Banks dated April 1, 2025. The shareholding is limited to 2.5% of the secured borrowings and does not alter the management or control of the bank.

Saraswat Bank operates under the Multi-State Co-operative Societies Act, 2002, adhering to the principle of "one member, one vote". Consequently, the additional share subscription does not provide United Heat Transfer with any proportionate increase in voting rights or control. The transaction is purely to satisfy the regulatory obligations applicable to borrower members.

Loan and Investment Details

Saraswat Bank reported a total income of ₹5064.53 crore and a net worth of ₹5484.91 crore as on March 31, 2025. The bank, incorporated in 1918, offers a suite of banking and financial services including retail, wholesale, and treasury operations.