H.M. Electro Mech Limited has secured a comprehensive turnkey EPC contract worth ₹27.52 crores from Twinsag Enterprise for a 32.4 MW solar photovoltaic project, as disclosed under Regulation 30 of SEBI listing regulations.

Project Specifications

The contract encompasses the complete design, engineering, procurement, supply, erection, testing and commissioning of the 32.4 MW (DC) Solar PV project on a turnkey Balance of System (BoS) EPC basis. The project will be executed at Village Songir, Jamkhed, Arthe in Maharashtra.

Contract Details

The work order was received on January 30, 2026, with the project scheduled for completion within 6 calendar months from the order date. The contract represents a one-time domestic order with no related party transactions involved.

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, providing comprehensive project details as mandated. The announcement confirms that promoters and group companies have no interest in the client entity, ensuring arm's length transaction compliance.

Business Impact

This substantial order reinforces H.M. Electro Mech's capabilities in executing large-scale solar EPC projects and strengthens its position in India's expanding renewable energy market. The turnkey nature of the contract demonstrates the company's comprehensive project execution capabilities across the entire solar project value chain.

H.M. Electro Mech Limited has submitted a revised statement of deviation/variation in fund utilization for the quarter ended 30th September, 2025, to BSE Limited under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The revision was necessitated due to a typographical error in the original statement filed on 13th November, 2025.

Correction of Typographical Error

The company identified and corrected a significant error in its original filing where an amount of ₹ 21.68 lakhs was mistakenly mentioned under the heading "Amount of Deviation/Variation for the quarter according to applicable object." The company clarified that this amount should have been "Nil" and that the ₹ 21.68 lakhs was actually the balance amount of working capital used from IPO proceeds.

IPO Fund Utilization Details

The revised statement provides a comprehensive breakdown of the fund utilization from the public issue conducted on 31st January, 2025:

Compliance and Confirmation

The company has confirmed that the IPO proceeds totaling ₹ 2,774.40 lakhs have been utilized strictly for the purposes stated in the company's prospectus. The management emphasized that there was no actual deviation in the utilization of funds, and the error was purely typographical in nature.

Regulatory Filing Details

The revised statement was filed in the format prescribed by SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024. The document was signed by Mahendra Ramabhai Patel, Whole Time Director (DIN: 02190228), and Dipak Padmakant Pandya, Chairman and Managing Director (DIN: 02188199).

The company has requested BSE Limited to take this corrected information on record, ensuring transparency and compliance with regulatory requirements for listed entities regarding fund utilization reporting.