Sharika Enterprises Secures Rs 38.91 Lakh Contract for Solar Street Lighting in Punjab

Sharika Enterprises Limited has announced a significant development in its business operations. The company has secured a work order from the Punjab Energy Development Agency (PEDA), a Punjab Government Undertaking, for the supply, installation, and commissioning of solar photovoltaic (SPV) street lighting systems across the state of Punjab.

Contract Details

The work order, valued at Rs. 38.92 lakh, involves the following key aspects:

• Supply, installation, and commissioning of 252 SPV Street Lighting Systems
• Each system will feature 12-watt LED-based lighting
• Implementation across various locations in Punjab

Project Timeline and Scope

Sharika Enterprises has been given a tight timeline to execute this project:

• Completion period: 119 days
• The contract encompasses the entire process from supply to commissioning, ensuring a turnkey solution for PEDA

Strategic Implications

This contract win holds several strategic implications for Sharika Enterprises:

1. Government Sector Engagement: The project demonstrates the company's ability to secure contracts from government agencies, potentially opening doors for future collaborations.
2. Renewable Energy Focus: By participating in solar lighting projects, Sharika Enterprises is positioning itself in the growing renewable energy sector.
3. Local Market Penetration: The contract allows the company to strengthen its presence in the Punjab market, which could lead to additional opportunities in the region.

Corporate Governance and Transparency

In line with regulatory requirements, Sharika Enterprises has made the following disclosures:

• The contract is purely domestic in nature.
• There are no related party transactions involved in this deal.
• Neither the promoter nor the promoter group has any interest in PEDA, the entity awarding the contract.

This level of transparency aligns with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and demonstrates the company's commitment to good corporate governance practices.

The successful execution of this project could potentially enhance Sharika Enterprises' reputation in the renewable energy solutions market and contribute to its revenue stream.