Indobell Secures Domestic Order For Nodulated Wool

The order carries payment terms of 45 days by direct credit and is scheduled to be executed by March 2028. Indobell noted that the material to be supplied is nodulated wool and that the party awarding the contract is based in India. The company characterised the transaction as a routine commercial contract within its regular course of business.

The broad consideration for the contract was stated as Rs 48,739,015 which the company presented as Rs 48.74 mn on conversion to a million denomination. Indobell confirmed that neither the promoter nor the promoter group nor group companies have any interest in the awarding entity and that the contract does not qualify as a related party transaction. The disclosure recorded that the contract, where relevant, would be conducted on an arm's length basis.

The disclosure was signed by the company secretary and compliance officer, who is listed with membership number A 15785, and accompanied the prescribed annexure detailing the information pursuant to the SEBI circular dated 13 July 2023. Indobell requested that the exchange take the information on record and indicated it will proceed with contractual performance in accordance with the stated terms. The announcement forms part of routine market disclosures by listed companies to keep investors informed.