Sunita Tools Ltd has entered into an Interim Sales Agreement for 2,40,000 empty NATO Spec & Standard 155mm M107 artillery shells

Sunita Tools Limited ("the Company") is pleased to announce that it has entered into a Interim Sales Agreement for 2,40,000 empty NATO Spec & Standard 155mm M107 artillery shells, at the supply rate of 10,000 units per month.

Under this Sales Agreement Sunita Tools Limited has to supply these 2,40,000 NATO STD shells in a period of 24 months at the supply rate of 10,000 units per month.

Key Highlights of the Agreement:

1. Contract for Order for 2,40,000 empty artillery shells as per NATO std & specs.

2. To be supplied in a period of 24 months, with some grace period.

3. Payment terms are Rolling 50 % advance of 3 months supply and Monthly supplies paid before delivery adjusting that months advance.

4. Approx monthly billing of INR 24 Crore will start post all formalities done and advance received.

5. The buyer is DPIIT registered thus they will issue DP02 and take supplies till our DPIIT is in place.

6. First set of Supplies starts as soon as Possible.

7. It's a non-exclusive Agreement thus some part of our production can be given to any or more customers as and when we get.

With this Interim Sales Agreement Sunita Tools Limited's long-term strategy of expanding its international defence and aerospace business has reached its inflection point and through its Expertise, Trusted Team and state of the art factory will execute this order to the most efficient capacity to satisfaction of the customer.

Shares of Sunita Tools Limited was last trading in BSE at Rs. 885.05 as compared to the previous close of Rs. 851.35. The total number of shares traded during the day was 31625 in over 208 trades.

The stock hit an intraday high of Rs. 889.00 and intraday low of 870.00. The net turnover during the day was Rs. 27904712.00.

Source : Equity Bulls

Keywords

SunitaTools INE0Q1S01010 IndustrialProducts InterimSalesAgreement NATOspec ArtilleryShells