Agarwal Industrial Corporation said that it has entered into supply agreement for bulk bitumen with Bharat Petroleum Corporation (BPCL), a Government of India enterprise.
As per the terms of the agreement, the company would supply 45,000 MT of VG30 bitumen & 30,000 MT of VG40 bitumen to BPCL.
The initial order period for the agreement is for one year and which may be extendable for a further period of 1 year at the discretion of BPCL. The total value of the deliverables is Rs 303 crore.
Agarwal Industrial Corporation is primarily engaged in manufacturing of bitumen and bitumen products. It also transports liquified petroleum gas (LPG) and bituminous product. The company also forayed into ship operating and chartering business through its subsidiary in UAE.
The company's consolidated net profit rose 0.25% to Rs 27.70 crore on a 11.05% increase in sales to Rs 542.11 crore in Q3 FY25 as compared with Q3 FY24.
The scrip rose 0.47% to end at Rs 958.50 on the BSE today.
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