Hinduja Global Solutions Limited — Important, 28-11-2024: General Updates

Hinduja Global Solutions Limited has confirmed its board meeting decision to provide a guarantee of CAD 40 million to Metrolinx, a Canadian public sector entity, for a contract involving Digital Services and Back Office Services by its subsidiary, HGS Canada Inc. This guarantee will be active throughout the initial contract period of six years, which includes options for two three-year extensions. The anticipated revenue from this contract for HGS Canada Inc. is approximately CAD 36 million over the six years. The company indicates that it possesses adequate financial resources to support this guarantee, suggesting no expected adverse financial impact. Investors should monitor this development for potential growth opportunities stemming from the contract.