Transteel Seating Tech bags Rs 8 crore order from Muthoot Finance

Transteel Seating Technologies announced that it has received a work order worth Rs 8 crore for the supply of office chairs from Muthoot Finance, which has its corporate office (North) at MG George Muthoot Towers, Alaknanda, New Delhi.

According to an exchange filing, the company revealed that it has entered into a service level agreement with Muthoot Finance. The agreement, which was executed on 17 March 2025, covers the manufacture and supply of office chairs at Muthoot Finance's premises on a pan-India basis, in accordance with the terms and conditions outlined in the agreement.

The service level agreement will take effect from 1 March 2025 and is set to remain in force for one year, unless terminated earlier as per the conditions specified within the agreement.

Transteel Seating Technologies manufactures and offers a comprehensive range of office furniture, including chairs, workstations, desks, tables, storage units, and meeting tables. The company has developed the skill and expertise in making chairs, office furniture and other residential and commercial furniture.

On a full-year basis, the companys consolidated net profit jumped 22.8% to Rs 11.26 crore on a 24.8% increase in revenue from operations to Rs 74.26 crore in FY24 over FY23.

Shares of Transteel Seating Technologies slipped 2.87% to Rs 98 on the NSE, while shares of Muthoot Finance rose 1.49% to Rs 2,324.30 on the NSE.

As of 18 March 2025, the companys market capitalization stood at Rs 197.75 crore on the NSE.

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