Kirloskar Brothers bags Rs 214-cr orders from Adani Power group

Kirloskar Brothers (KBL)said that it has secured orders worth Rs 214 crore from Adani Power and its subsidiaries for supply and installation of pump systems for thermal power projects.

The orders have been awarded by domestic entities, including Anuppur Thermal Energy (MP) and Korba Power.

The scope of work includes supply and erection, testing and commissioning of Circulating Water Pumps (Concrete Volute pump technology) and Auxiliary Cooling Water Pumps, along with associated electrical and control systems. The projects are located in Madhya Pradesh, Assam, Chhattisgarh and Bihar.

Payments will be made in phases, with a portion payable within 30 days of receipt of goods at the delivery point and the balance upon erection, commissioning and testing. The contract carries a defect liability period of 12 months from the date of commissioning.

The orders are to be executed within 18 to 24 months from the date of purchase order.

KBL clarified that neither its promoter nor promoter group companies have any interest in the awarding entities, and the transactions do not fall under related party transactions.

Kirloskar Brothers is a part of the Kirloskar Group engaged in the business of engineering and manufacturing of systems for fluid management. The core businesses include large infrastructure projects (Water Supply, Power Plants, and Irrigation), Pumps, Valves, Motors and Hydro turbines. The scrip fell 1.04% to Rs 1,570.40 on the BSE.

Adani Power (APL), a part of the Adani portfolio, is the largest private thermal power producer in India. The scrip fell 0.28% to Rs 140.94 on the BSE.

Powered by Capital Market - Live News