Marine Electricals (India) Limited has secured orders worth ₹27.21 crore (excluding taxes) from Princeton Digital Group (India) Management Private Limited. The contract covers the supply, installation, testing, and commissioning of power distribution systems.
The company announced that delivery of the project is scheduled to be completed over a period of six months. The order was disclosed as part of the company’s regulatory obligations under SEBI listing norms.
Marine Electricals clarified that none of the promoters or promoter group entities have any interest in the project. The company also confirmed that the order does not fall within the ambit of related party transactions, with the disclosure made as part of good corporate governance practices.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Business Desk and reviewed by Aman Shukla before publication.