Marine Electricals (India) has announced the acquisition of significant orders amounting to ₹96.40 crores from Princeton Digital Group (India) Management Private Limited. The orders involve the supply of a power distribution system, with delivery set to occur over the next 12 to 14 months.
The company has clarified that these orders do not involve any interest from the Promoters or Promoter Group, and they do not constitute related party transactions. This disclosure is part of Marine Electricals‘ commitment to maintaining good corporate governance practices.
Marine Electricals, recognised for its expertise in electrical solutions, continues to expand its footprint in the power distribution sector with this latest order. The company aims to execute the project within the stipulated timeframe, aligning with its strategic growth objectives.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).