Mumbai, Aug. 28 -- Ratnamani Metals and Tubes reported that its subsidiary Ratnamani Finow Spooling Solutions has secured export orders for the supply of spools and hangers worth USD 286 Million, approximately Rs 27,000 mn. The parent company said the orders were received in the normal course of business and involved international customers. The announcement followed regulatory disclosure requirements under relevant listing regulations and the company uploaded the intimation on its website. The orders are significant for the subsidiary's export portfolio.

According to the filing, the supply will be partly manufactured at the subsidiary's plant and partly subcontracted. A portion of the sales will be executed on a mercantile trade transaction basis, reflecting flexible production and supply arrangements. The execution timeline spans over two to three years and will be scheduled in phases. The structure is intended to balance in-house capacity and external sourcing.

The orders total USD 286 Million and correspond to about Rs 27,000 mn, reflecting a material addition to the subsidiary's order book. The company indicated that the customers were international and that promoters or group companies did not have any interest in the ordering entities. It clarified that the transaction did not fall within related party transactions and therefore was not subject to arm's length disclosures for related parties. The announcement reiterated ordinary commercial intent.

The disclosure was made under the specific regulatory provisions applicable to listed companies and was furnished to the stock exchanges for record. The company has uploaded the detailed information on its website and completed the required annexures as per the master circular provisions. Execution over two to three years will be monitored and scheduled to align with production capacity and contractual timelines. Investors and stakeholders will be informed through standard disclosures as the orders are executed.

Published by HT Digital Content Services with permission from Construction World.