Marine Electricals (India) Limited has announced the acquisition of significant orders worth ₹115 crores from Larsen & Toubro Limited. The orders are for the supply, installation, testing, and commissioning of LT boards and branch panels for Tata Semiconductor Manufacturing Private Limited’s facility in Dholera. The delivery of these goods is expected to be completed over a span of 18 months.
The company has clarified that none of the promoters or the promoter group have any interest in this contract, and it does not qualify as a related party transaction. This disclosure is part of Marine Electricals‘ commitment to maintaining good corporate governance.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).