Sharika enterprises Limited has announced securing a substantial work order from Punjab Energy Development Agency (PEDA), marking a significant business development for the company. The contract, valued at Rs. 40,03,150/-, involves the supply, installation and commissioning of LED-based solar photovoltaic street lighting systems across Punjab state.

Contract Details and Specifications

The work order encompasses the deployment of 12-watt LED based SPV Street Lighting Systems throughout Punjab. This project represents the company's engagement with renewable energy infrastructure development in the northern Indian state. The contract has been awarded by Punjab Energy Development Agency, which operates as a Punjab Government Undertaking, highlighting the public sector nature of this engagement.

Project Timeline and Execution

The company has been allocated 119 days for the complete execution of this project. This timeline covers all aspects of the contract including supply, installation and commissioning of the street lighting systems. The project timeline indicates a focused approach toward rapid deployment of solar street lighting infrastructure across Punjab.

Regulatory Compliance and Disclosure

Sharika Enterprises Limited has fulfilled its regulatory obligations by disclosing this contract under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that this contract does not involve any related party transactions and that promoters or group companies have no interest in the awarding entity.

Business Impact

This order represents Sharika Enterprises Limited's continued involvement in the renewable energy sector, specifically in solar-powered street lighting solutions. The contract with a government undertaking demonstrates the company's capability to secure public sector projects and contribute to sustainable infrastructure development in Punjab state.

Sharika enterprises Limited has announced securing a substantial order worth ₹2.83 crore for the supply of electrical equipment. The company received this order from Sarthak Enterprises under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Order Details and Specifications

The contract involves the supply of 11 KV sectionalizers specifically for DGVCL Surat operations. The order carries a total value of ₹2,82,90,000 (Rupees Two Crore Eighty-Two Lakh Ninety Thousand), representing a significant business opportunity for the company.

Contract Terms and Timeline

The agreement specifies a completion period of 10-12 weeks for the entire supply order. This timeline indicates the company's commitment to delivering the electrical equipment within a defined schedule to meet DGVCL Surat's operational requirements.

Regulatory Compliance and Transparency

Sharika Enterprises Limited has confirmed that this contract does not involve any related party transactions. Additionally, the company has disclosed that neither the promoter, promoter group, nor group companies have any interest in Sarthak Enterprises, the entity that awarded the contract.

Corporate Governance Aspects

The order announcement was made through proper regulatory channels, with Company Secretary and Compliance Officer Pushpa Yadav signing the disclosure document. The company has fulfilled its obligations under SEBI circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, ensuring complete transparency in contract disclosure.

This domestic order strengthens Sharika Enterprises Limited's position in the electrical equipment supply sector, particularly in the power distribution segment serving utility companies like DGVCL Surat.