Ahmedabad, June 23: Shree Marutinandan Tubes Ltd has secured a ₹2.24-crore work order from Value Fashion Retail Ltd, an Arvind Group company, for executing plumbing and industrial piping works at an Arvind project site.
The order, received on June 22, involves the execution of plumbing, compressed air, steam and condensate piping works. The contract is valued at approximately ₹2.24 crore, inclusive of GST, the company said in a regulatory filing.
The scope of work includes plumbing and compressed air piping as well as steam and condensate piping under Purchase Order No. 3500580671.
The project is scheduled for delivery by July 23, 2026, with the completion timeline to be finalised mutually between the parties. The contract also includes a six-month warranty and a 12-month defect liability period.
Under the payment terms, 95% of the contract value will be released within 30 days, while the remaining 5% will be retained until the completion of the defect liability period. The agreement also provides for liquidated damages of 0.5% of the contract value per week of delay, subject to a maximum of 5%.
Shree Marutinandan Tubes said the order has been awarded in the ordinary course of business by a domestic entity. The company also clarified that the transaction is not a related-party transaction and that neither its promoters nor promoter group companies have any interest in the customer.
The Ahmedabad-based company operates across steel, machinery, fire-fighting and mechanical, electrical and plumbing (MEP) engineering segments.