Newmalayalam Steel Limited, a prominent player in the steel industry, has announced that it has secured 10 new orders for supplying a total of 1,025 metric tons (MT) of Demac GP Pipes and Tubes. The total value of these contracts, inclusive of GST, amounts to ₹7.31 crores.
Key Highlights:
- Order Details: The contracts have been awarded by 10 domestic entities, including HS Steels, Baba Traders, and George Infra Private Limited, all based in Kerala.
- Nature of Orders: The orders are based on a sale agreement and will be fulfilled domestically.
- Execution Timeline: Delivery is expected to be completed within 30 working days.
- No Promoter Interest: The company has confirmed that neither the promoter group nor group companies have any interest in the awarding entities. Additionally, these transactions do not qualify as related party transactions.
The orders reflect the growing demand for Newmalayalam Steel’s products in the domestic market and further bolster its position as a key supplier of GP Pipes and Tubes.
