Marine Electricals (India) Limited has received orders worth approximately ₹398.81 crore, excluding taxes, for the supply of Power Distribution Systems from Princeton Digital Group (India) Management Private Limited and Classic Electric.
The company received an order from Princeton Digital Group (India) Management Private Limited for the supply of a Power Distribution System. The delivery of the goods is scheduled to be completed over a period of 18 months.
Marine Electricals also received an order from Classic Electric for the supply of Power Distribution Systems, with delivery to be carried out over a period of 6–8 months.
The company stated that none of the promoters or promoter group members have any interest in the aforesaid work and that the orders/contracts do not fall within the ambit of related-party transactions. Marine Electricals said the disclosure was being made as part of good corporate governance.
