Atmastco Limited Secures Rs 21.27 Crore Order from L&T – MHI Power Boilers

Atmastco Limited has received a letter of intent from L&T – MHI Power Boilers Pvt. Ltd. for the fabrication and supply of Buckstay. The one-time domestic contract is valued at approximately Rs 21.27 crore.

The execution timeline for this order will depend on the specific terms mentioned in the purchase order. According to the company, the order value does not qualify as material under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, or as per the company’s internal Materiality Policy.

Despite this, Atmastco Limited has made the disclosure voluntarily as part of its commitment to good corporate governance practices. The transaction involves a domestic entity and is not classified as a related party transaction.

Incorporated in 1994, Atmastco Limited engages in the trading of steel goods, industrial items, and operates in the engineering and erection business. The company is an ISO 9001, ISO 14001, ISO 45001, and ZED-certified multidisciplinary engineering firm involved in the design, manufacture, supply, erection, and commissioning of high-precision mechanical equipment and specialized heavy structures catering to sectors such as steel, energy and power, Railways, cement, infrastructure, and water systems. In FY23, Atmastco expanded its operations by introducing a new business line as a contractor for constructing and setting up factory premises for private players.

The stock price is trading 25 per cent up from the 52-week low.

Disclaimer: The article is for informational purposes only and not investment advice.