Supreme Industries bags order worth Rs170 crore from Indian Oil; stock ends marginally higher

3 Mar 2022 , 04:12 PM

Supreme Industries Ltd.’s stock remained bouncy in today’s trade touching the intraday high and low of Rs2,047 and Rs2,015.55 respectively. It finally settled at Rs2,030, up by Rs13.35 or 0.66% against its previous closing price of Rs2,016.65.

The company informed the investors and exchanges through its regulatory filing that it has received LOI for the supply of 7,35,186 Nos of 10 Kg. capacity Composite LPG Cylinders worth Rs170 crore from the Indian Oil Corporation Limited.

The company anticipates the execution of this order will be within 12 months. This will facilitate full utilization of the existing installed capacity of Composite LPG cylinders of the Company.

Further, the company has prepared itself to double the existing capacity to reach one million pcs per annum in the upcoming 8 to 9 months with a capital outlay of about Rs50 crore.

This step will enable the company to execute the present order and to cater to the increasing demand in the future.