SRM Contractors Limited has formally disclosed, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that it has been awarded a significant contract.
The company has bagged a contract valued at ₹138.37 Crores (Indian Rupees One Hundred Thirty-Eight Crores and Thirty-Seven Lakhs Only) from MORTH (Ministry of Road, Transport and Highways).
The nature of the contract is for the "Treatment of 04 landslide locations on NH-09 (old NH-125) in the state of Uttarakhand on EPC mode." The specific locations are:
- Ch. 102.66 km to Ch. 102.885 km near NHPC Power Plant on Pithoragarh-Tawaghat road
- Ch. 4.680 km to Ch. 4.880 km near Tintola
- Ch. 4.890 km to Ch. 5.250 km near Tintola
- Ch. 5.733 km to Ch. 5.833 km near Tintola
These locations are in the Tawaghat–Ghatiabagarh section.
The contract is to be executed within a time period of 18 months from the appointed date. The contract was awarded by a domestic entity (MORTH).
The company has confirmed that neither the promoter, promoter group, nor any group companies have any interest in MORTH, the entity that awarded the contract. Furthermore, the contract does not qualify as a related party transaction.
The disclosure was made via a letter signed by Arun Mathur, Company Secretary & Compliance Officer (Membership No.: A36848), and is addressed to both BSE Limited and the National Stock Exchange of India Limited. The disclosure includes the mandated Annexure-A with details as required under SEBI Circular No. SEBI/HO/CFD/CFD-POD-I/P/CIR/2023/123 dated 13th July 2023.