Sai Machine Tools Pvt Ltd executes lease deed with MPIDC

Sai Machine Tools Private Limited, a material subsidiary of SMT Engineering Limited (Formerly known as Adarsh Mercantile Limited), has executed a Lease Deed with Madhya Pradesh Industrial Development Corporation Limited ("MPIDC").

The Lease Deed pertains to the allotment of land situated at Plot No. A-03C (Khasra No. 362/3, Village/Colony: Salampur, Tehsil: Depalpur, District: Indore), admeasuring 40,000 sq. mtrs., located in the Smart Industrial Township, Sector-7, District Indore. The lease has been granted for a term of ninety-nine (99) years, commencing on November 21, 2025 and concluding on November 20, 2124.

The allotted land will be utilized for the manufacturing and supply of plant and machinery for plastic processing and recycling, manufacturing of plastic products and various plastic pipes, as well as undertaking engineering job work for defence and other industries, including the development of Special Purpose Machinery (SPM).

An investment of approximately ₹140 crore is expected for establishing the unit.

Shares of SMT Engineering Ltd was last trading in BSE at Rs. 124.56 as compared to the previous close of Rs. 122.12. The total number of shares traded during the day was 1 in over 1 trades.

The stock hit an intraday high of Rs. 124.56 and intraday low of 124.56. The net turnover during the day was Rs. 124.00.

Source : Equity Bulls

Keywords

SMTEngineering INE673E01018 SaiMachineTools LeaseDeed MPIDC