Admach Systems secures Rs 94 lakh order for non-destructive testing equipment

Under the terms of the contract, the company will receive a 30% advance along with the purchase order, while the balance payment will be made against dispatch of the equipment.

The order is scheduled to be executed within 16 weeks from the date of the purchase order.

The company said the contract has been awarded by a domestic entity. It also clarified that neither its promoters nor promoter group companies have any interest in the awarding entity, and the transaction does not fall under related-party transactions.

Admach Systems specializes in the design, manufacture, and supply of customized special-purpose machines and automation systems for industries including steel, automotive, food processing, tooling, and engineering. The company offers solutions such as black bar handling, bar chamfering and straightening, bright bar processing, grinding, and super-finishing systems.

The counter fell 3.97% to Rs 265.05 on the BSE.

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