Sharika Enterprises Secures Rs 81 Lakh Order from DMRC
Filing Summary
Sharika Enterprises Ltd has received an order from the Delhi Metro Rail Corporation Limited (DMRC) for the supply and installation of Link Boxes and Cable Outer Sheath Jackets in the Traction Department. The contract is valued at approximately Rs 81 lakh and is to be completed within nine months. This order does not involve any related party transactions, and the promoters of Sharika Enterprises have no interest in DMRC. The transaction is in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements.
Sharika Enterprises Ltd has announced the receipt of an order from the Delhi Metro Rail Corporation Limited (DMRC). The order involves the supply and installation of Link Boxes and Cable Outer Sheath Jackets in the Traction Department of DMRC. The total consideration for this contract is Rs 80,85,549.
The order from DMRC, a joint venture between the Government of India and the Government of Delhi, is classified as a domestic contract. The project is scheduled to be completed within a timeframe of nine months from the date of commencement.
Sharika Enterprises has confirmed that there are no related party transactions involved in this contract. Additionally, the company’s promoters and promoter group do not hold any interest in DMRC. The disclosure of this order is in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Delhi Metro Rail Corporation Limited is responsible for the operation and maintenance of the Delhi Metro. It is a significant player in the urban transportation sector, focusing on expanding and maintaining metro services in the National Capital Region.
Sharika Enterprises Ltd is engaged in providing engineering solutions and services. The company focuses on projects related to power transmission and distribution, as well as infrastructure development. Sharika Enterprises aims to enhance its service offerings in the engineering sector through strategic contracts and collaborations.