Standard Engineering Tech gains after inking export deal for Middle East region

Standard Engineering Technology rose 1.27% to Rs 120 after the company entered into distribution agreement with API Pharma Pharmaceutical Trading, United Arab Emirates (UAE) to export its manufactured products in the Middle East region.

Under target-based conditional distribution agreement, the company will supply products and services to the customers of API Pharma Pharmaceutical Trading in the Middle East region. The purpose of the agreement is to strengthen the companys market presence in the Middle East, expand its regional customer network and enhance export volumes, thereby contributing to the growth in foreign revenue.

The arrangement will help enhance the companys export footprint across sectors such as pharmaceutical manufacturing facilities, biopharmaceutical and life sciences, food & beverages and other process industries. The agreement provides for an initial three year performance period with defined annual and cumulative business targets. Subject to achievement of these milestones, the arrangement shall continue for a total tenure of upto ten years.

 

The company said that while it remains mindful of evolving geopolitical developments in certain parts of the Middle East region, the agreement has been prudently structured with commercial protections and periodic review mechanisms.

Standard Engineering Technology is a high-precision engineering and process equipment company serving the pharmaceutical, chemical, and allied industries, with capabilities spanning glass-lined equipment, stainless steel equipment, and integrated turnkey solutions

The companys consolidated net profit climbed 28% YoY to Rs 19.19 crore in Q3 FY26 comapred with Rs 14.99 crore in Q3 FY25. Net sales increased 36.7% to Rs 191.57 crore in Q3 FY26 over Q3 FY25.

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