As per the terms of the contract, 90% of the payment for the stores or each consignment thereof will be made against inspection certificate and proof of dispatch, with the remaining 10% payable upon receipt and acceptance of the stores.
The contract is strictly domestic in nature and has been awarded by an Indian organization. The execution timeline for the order is within 18 months from the date of issue of the purchase order. The total contract value is Rs 60,87,45,948.70.
The company has confirmed that neither the promoter nor the promoter group or group companies hold any interest in the awarding entity, and the transaction does not fall under related party transactions.
Oriental Rail Infrastructure is engaged in the manufacturing and supply of several diversified railway products and items for Indian Railways and other related industries. Its products include seat & berths, recorn, compreg board & articles thereof, furniture & parts, coated upholstery fabric, plywood, phenolic resin & hardener, silicon foam, etc.
The company’s consolidated net profit jumped 22.9% to Rs 5.37 crore despite an 18.5% decline in revenue from operations to Rs 140.21 crore in FY25 over FY24.