Date: 15-10-2026

Project Termination Details

ArMee Infotech Limited has formally communicated the termination/non-execution of the Bondada EPC Project awarded by Bondada Engineering Limited (BEL). This project formed part of the Company's order book disclosed in its Red Herring Prospectus dated 16 September 2026 and Prospectus dated 28 September 2026.

Reasons for Termination

  • Subsequent to acceptance of the Letters of Award, there was a substantial escalation in raw material costs
  • The contract price under the LOAs was firm and fixed with no price escalation payable
  • The project became commercially unviable under the originally agreed terms
  • The Company had communicated cost escalations to BEL and sought revision of commercial terms
  • In the absence of such revision, the Company communicated its inability to proceed

Project Details (From Annexure-A)

Parties Involved:

  • Bondada Engineering Limited (BEL) - Awarding Entity
  • ArMee Infotech Limited - Contractor
  • End Client: NTPC Renewable Energy Limited (main contract awarded to BEL)

Nature of Contract:

  • Domestic orders for Amended EPC Balance of System (BOS) Packages
  • Comprising Supply, Services (inland transportation and transit insurance, installation, civil and allied works and safety compliance) and Operation & Maintenance (three years paid O&M including AMC of specified equipment)
  • For Block-1 (300 MW AC) and Block-3 (300 MW AC) of the Grid Connected Solar PV Project of NTPC Renewable Energy Limited at Fatehgarh, Rajasthan

Contract Value:

  • Aggregate order value: ₹7,40,97,14,623/- (inclusive of GST)
  • Block-1: ₹3,75,17,83,052/-
  • Block-3: ₹3,65,79,31,571/-

Execution Details:

  • Letters of Award bearing No. BEL/LOA/26-27/20 (Block-1) and No. BEL/LOA/26-27/21 (Block-3)
  • Each issued separately for Supply, Services and O&M packages
  • All dated June 26, 2026, issued by BEL and accepted by the Company
  • Reference to Amended EPC BOS Contract dated June 29, 2026

Financial Impact

  • The outstanding order book of the Company shall stand reduced by the order value of ₹7,40,97,14,623/- (inclusive of GST)
  • Other financial implications, if any, shall be appropriately disclosed by the Company in its subsequent disclosures

Management Statement

The decision has been taken after careful commercial evaluation, keeping in view financial prudence, project viability and protection of stakeholders' interests. The Company remains committed to maintaining financial discipline and pursuing sustainable, commercially viable business opportunities.