India, June 24 -- Admach Systems Ltd has received a purchase order worth Rs 501.50 lakh (including GST) from a domestic customer in the steel industry for the supply of a two-roll straightening machine.
The order is to be executed within nine months from the date of the purchase order or receipt of the advance payment, whichever is later. The payment structure includes 10% advance, 80% payment against proforma invoice and factory acceptance testing, and the remaining 10% upon successful commissioning of the equipment.
With this new contract, the company's total order book stands at Rs 81.71 crore (including GST), strengthening its revenue visibility for the coming quarters.
Admach Systems clarified that the order has been awarded by a do...