Patel Retail Secures ₹25 Crore Export Order from International Clients
Filing Summary
Patel Retail Limited has informed the BSE about securing an export order valued at ₹25 Crores. The order involves the supply of various spices and FMCG products to international clients, including P & B (Foods) Limited and Shahi Foods Spices LLC. The order is expected to be executed within 45 days. The transaction does not involve any related party interests. This development is in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and related SEBI circulars.
Patel Retail Limited has announced the acquisition of an export order worth ₹25 Crores. The order was disclosed to the BSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The order involves the supply of various spices and FMCG products to international clients.
The clients include P & B (Foods) Limited, Shahi Foods Spices LLC, and other entities. The order is international in nature, with deliveries scheduled to the UK, Italy, UAE, Saudi Arabia, and other countries. The terms of the contract specify payment against documents, and the execution period is set at up to 45 days.
The filing confirms that there is no interest from the promoter or promoter group in the entities awarding the order. Additionally, the transaction does not qualify as a related party transaction. The disclosure aligns with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024.
P & B (Foods) Limited and Shahi Foods Spices LLC are involved in the food industry, focusing on the distribution of spices and related products. These companies engage in international trade, sourcing products from various regions to meet global demand.
Patel Retail Limited operates in the retail sector, focusing on the distribution of fast-moving consumer goods and spices. The company is committed to expanding its international footprint by securing export orders and enhancing its product offerings to meet diverse market needs.