The order will be executed and delivered in tranches by June 2027, as per the agreed timeline.
In a regulatory filing, the company clarified that none of the promoter, promoter group, or group companies have any interest in the awarding entity.
NIBE operates in manufacturing critical components for the defence sector, electric vehicles (E-Vehicles), and software development. The company is engaged in fabrication and machining of components used in the defence sector, as well as assembly of components for E-vehicles.
The company’s consolidated net profit dropped 75.97% to Rs 1.90 crore in Q1 FY26, compared to Rs 7.91 crore posted in Q1 FY25. Revenue from operations fell 25.04% to Rs 82.50 crore in Q1 FY26, down from Rs 110.06 crore in the same quarter last year.
The scrip dropped 3.99% to settle at Rs 1,326.50 on the BSE.