Shish Industries was locked in 20% upper circuit at Rs 172.05 after the company announced that it has received order worth minimum of $37.5 million from USA-based Best Construction Products Inc. (BCP).
The company shall supply various products as per the schedule that has been mutually agreed upon between the entities. The price of the products shall be linked to polymer prices as per the prevailing market rates at the time of delivery.
The aforementioned contract has to be executed over a period of 5 years.
At the prevail exchange rate of Rs 83.36 per USD, the value of the said contract is Rs 312.58 crore.
Shish Industries manufactures and exports plastic corrugated sheets, PP box, FIBC Bags, PP/PE woven fabric, tarpaulin and shipping packaging supplies.
The company had reported 31.33% increase in net profit to Rs 3.06 crore on a 24.63% rise in revenue to Rs 23.33 crore in Q4 FY24 over Q4 FY23.
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