TPI India Secures ₹13.77 Crore Order from Indian Oil Corporation
By ScanX News Team
TPI India Limited has received a significant order worth ₹13.77 crore from Indian Oil Corporation Limited (IOCL) for manufacturing and supplying FIBC bags. The domestic contract will be executed over a two-year period. This order highlights TPI India's capabilities in industrial packaging solutions and is expected to contribute to the company's revenue stream.
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TPI India Limited has announced a significant new order worth ₹13.77 crore from Indian Oil Corporation Limited (IOCL), marking a notable development for the company in the domestic market.
Order Details
The order, valued at ₹137.70 million (₹13.77 crore), involves the manufacturing and supply of FIBC (Flexible Intermediate Bulk Container) bags to IOCL. This domestic contract is set to be executed over a period of two years, as per the company's disclosure to the Bombay Stock Exchange (BSE).
Strategic Importance
This order from IOCL, a major player in India's oil and gas sector, underscores TPI India's capabilities in producing industrial packaging solutions. FIBC bags are widely used in the transportation and storage of bulk materials, indicating that this order could be part of IOCL's supply chain operations.
Company Disclosure
In compliance with SEBI regulations, TPI India has provided detailed information about the order:
| Particulars | Details |
|---|---|
| Awarding Entity | Indian Oil Corporation Limited |
| Nature of Order | Domestic |
| Scope | Manufacturing and supply of FIBC bags |
| Execution Period | 2 years |
| Order Value | ₹13.77 Crores |
The company has confirmed that this order does not fall under related party transactions, and neither the promoter group nor group companies have any interest in IOCL.
Management Statement
Bharat Chimanlal Parekh, Managing Director of TPI India, signed off on the regulatory filing, emphasizing the company's commitment to transparency and adherence to disclosure norms.
This new order is expected to contribute to TPI India's revenue stream over the next two years, potentially strengthening its position in the industrial packaging sector. Investors and market analysts will likely monitor the execution of this contract and its impact on the company's financial performance in the coming quarters.
Historical Stock Returns for TPINDIA
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +8.47% | +5.62% | +9.28% | -6.75% | -13.76% | +173.95% |
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