The first order, valued at Rs 1.52 crore, was awarded by CBG and involves the supply of LT panels. The project is expected to be completed by July 2025.
The second order, worth Rs 79 lakh, was received from Mahagun, also for the supply of LT panels. This project is likewise scheduled for completion by July 2025.
The company clarified that both contracts do not fall under related party transactions and confirmed that neither the promoter, promoter group, nor any group companies have any interest in the awarding entities.
Shivalic Power Control is engaged in manufacturing a variety of electric panels, including PCC, IMCC, Smart, MCC, DG synchronization, outdoor, HT panels up to 33KV, VFD, power distribution boards, bus ducts, and LT & HT APFC panels.
On a full-year basis, the company’s consolidated net profit jumped 55.5% to Rs 11.21 crore on a 24.4% increase in revenue to Rs 102.18 crore in FY24 over FY23.