Agarwal Industrial Corporation Limited — Important, 03-12-2024: Updates

Agarwal Industrial Corporation Limited has entered into a Supply Agreement with Hindustan Petroleum Corporation Limited for Bulk Bitumen - VG30 & VG40. The initial tenure of the agreement is one year, with the possibility of a one-year extension at HPCL's discretion. The total quantity to be supplied includes 49,000 MT of VG30 and 9,000 MT of VG40, with an estimated total deliverable value of approximately ₹255 crores. This agreement is not with a related party and is conducted on an arm's length basis. This development is expected to enhance Agarwal Industrial's revenue streams and provides a positive outlook given the significant volume of supply involved.