S&S Power Switchgears announced that its wholly owned subsidiary, S&S Power Switchgear Equipment Limited (SSPSE), has clinched a significant contract for an international project. The company disclosed this information in a regulatory filing to the stock exchanges.

Contract Details

SSPSE has received a Letter of Award (LOA) from Transrail Lighting Limited for the supply of 400KV Disconnectors for a project in Botswana. The order value exceeds ₹5.00 crores, marking a notable achievement for the company in the power equipment sector.

Project Timeline and Execution

The delivery of the 400KV Disconnectors is scheduled to be completed within the current financial year, aligning with the company's operational targets. This timeframe suggests a swift execution of the project, potentially boosting the company's revenue for the fiscal year.

Strategic Implications

This contract win highlights S&S Power Switchgear's capabilities in manufacturing high-voltage power equipment and its growing presence in international markets. The Botswana project could serve as a stepping stone for further expansion into African markets, showcasing the company's expertise in power transmission equipment.

Key Points of the Transaction

Company Disclosure and Compliance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, S&S Power Switchgear has promptly informed the stock exchanges about this development. The company has confirmed that there are no related party interests or connections with the promoter group in this transaction, ensuring transparency in its business operations.

This order comes as a positive development for S&S Power Switchgear, potentially strengthening its order book and international presence. Investors and stakeholders will likely keep a close watch on the execution of this project and its impact on the company's financial performance in the coming quarters.

S&S Power Switchgears , through its wholly owned subsidiary S&S Power Switchgear Equipment Limited, has clinched a significant order exceeding ₹6.00 crores for the supply of high voltage isolators. The contract, awarded by Hartek Power Private Limited, is for Powergrid Corporation of India Limited projects.

Order Details

The Letter of Awards (LOA) received by S&S Power Switchgear Equipment Limited encompasses the supply of various high voltage isolators, including:

• 420 KV units
• 245 KV units
• 72.5 KV units
• 36 KV units

Project Timeline

According to the company's regulatory filing, deliveries for this contract are scheduled to commence from the last quarter of the current fiscal year. This strategic timing allows S&S Power Switchgear Equipment to plan and execute the order efficiently.

Market Implications

This order is significant for S&S Power Switchgears and its subsidiary for several reasons:

1. Order Value: The contract, valued at over ₹6.00 crores, represents a substantial business opportunity for the company.
2. Domestic Growth: The order from a domestic entity, Hartek Power Private Limited, underscores the company's strong position in the Indian power equipment market.
3. Strategic Client: The end-user being Powergrid Corporation of India Limited, a major player in the power transmission sector, could potentially lead to future opportunities.

Corporate Governance

In line with regulatory requirements, S&S Power Switchgears has confirmed that:

• The order was awarded by a domestic entity.
• There is no promoter group interest in Hartek Power Private Limited, the awarding company.
• The contract does not fall under related party transactions.

Upcoming Financial Results

In a separate announcement, S&S Power Switchgears has scheduled a board meeting for August 12 to consider and approve the unaudited Standalone and Consolidated Financial Results for the quarter ended June 30. This upcoming financial disclosure may provide further insights into the company's performance and the impact of new orders on its business outlook.

This latest order reinforces S&S Power Switchgear Equipment Limited's position in the high voltage isolator market and contributes to the parent company's growth trajectory in the power equipment sector.