Sanghvi Movers Limited announced that its material subsidiary, Sangreen Future Renewables Private Limited, has been awarded large work orders worth ₹292 crore from prominent Independent Power Producers (IPPs). This disclosure is pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The work orders pertain to Wind Balance of Plant (BOP), which includes the construction of WTG civil foundations, internal roads, crane platforms, WTG intercarting from storage yard to respective WTG locations, installation of WTGs, mechanical completion, internal 33kV line works, as well as DP yards for respective WTGs.
The project is scheduled to commence from Q2 of FY 2025-26 and is expected to be completed by Q1 of FY 2026-27.
The company clarified that neither the promoter nor the promoter group or group companies have any interest in the entities that awarded the orders, and the transactions do not fall within related party transactions.
The disclosure is made in accordance with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
The company has requested the stock exchanges to take the information on record and place it on their website for the information of shareholders, investors, analysts, and the public at large.
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