Core Announcement – Order Details
Awarding Entity: Himachal Pradesh Bulk Drug Park Infrastructure Limited
Domestic/International Order: Domestic
Nature of Order/Contract: Engineering, Procurement and Construction (EPC), commissioning and comprehensive Operation & Maintenance (O&M) of Common Steam Plant and Co-generation Power Plant at Bulk Drug Park, Una, Himachal Pradesh.
Order Value: ₹311 crore (inclusive of GST)
Materiality Context: The project expands the Company's steam generation and distribution platform beyond Gujarat and provides a long-term O&M opportunity. Not specified as major/significant/routine.
Execution Timeline: EPC completion period is 24 months from commencement of the project, subject to applicable contractual conditions. O&M period is 25 years following completion/commissioning of the project.
Revenue Recognition / Billing Structure: The commercial framework provides for consideration of actual operating costs, permissible markup and recoupment of Opex Gap Funding (OGE), as applicable under the project documents. The project provides for an initial subsidised period followed by a revenue-sharing mechanism from April 2032 to March 2052.
Key Terms & Payment Milestones: The project cost is to be funded by Himachal Pradesh Bulk Drug Park Infrastructure Limited, as per the applicable project arrangement.
Whether Related Party Transaction: No
Promoter Group Involvement: Not interested
Financial Implication: The project will add 300 TPH of steam capacity to the Company's operating platform. The Company currently has approximately 345 TPH of steam generation and distribution capacity, with approximately 360 TPH of additional capacity under construction. With this addition, the Company's potential generation and distribution platform is expected to reach approximately 1,005 TPH.
Capacity: 300 TPH Steam Plant with indicative co-generation power capacity of 30 MW, along with associated steam distribution network