Salasar Techno Engineering Ltd. (STEL) (BSE: 540642, NSE: SALASAR)engaged in manufacturing of large & heavy steel structures, and providing customized steel structures and EPC solutions to diverse range of industries including telecom, power, railways and others has announced that the board has Recommended the issue of Bonus Shares in the proportion of 4:1 i.e. 4 new fully paid-up bonus equityshareofRs.1 eachforevery1 existing fully paid-up equity share of Rs. 1 each held by the Members of the Company as on the Record Date, subject to shareholders and other statutory approvals. The record date for the same will be announced shall be decided and intimated to exchanges separately.
Earlier, the company was awarded a contract, valued at Rs. 3,640 Million. The contract focuses on execution of Loss Reduction work in Turnkey Mode. The contract signals a significant milestone for The Company, involving a comprehensive scope of work aimed at enhancing the power infrastructure in Erode district of Tamil Nadu. Under the contract, STEL is entrusted with the Supply, Erection, and Installation of Feder Segregation, High Voltage Distribution System, Separation of Double Distribution Transformer, and Augmentation of 33KV Lines. The above contract further strengthens the order book and is expected to get completed within 36 months, yielding heathy EBITDA margins.
Commenting on the order win, the management team of STEL said: “We are delighted to announce a significant achievement that underscores our commitment to excellence and our capabilities in delivering cutting-edge infrastructure solutions. STEL has secured a monumental EPC contract valued at Rs. 3,640 million from the Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO). The contract focuses on executing loss reduction work in the Turnkey Mode. We will handle every aspect of the project, from design and engineering to manufacturing, testing, supply, erection, and installation of Feder Segregation, High Voltage Distribution System, Separation of Double Distribution Transformer, and Augmentation of 33KV Lines. The project will be executed in successive phases.”
Incorporated in 2006, Salasar Techno Engineering Limited is a provider of customized steel fabrication & infrastructure solutions in India. It provides 360-degree solutions by carrying out engineering, designing, fabrication, galvanization and deployment. STEL’s product portfolio includes telecommunication towers, power transmission line towers, smart lighting poles, utility poles, high mast poles, stadium lighting poles, monopoles, substation structures, solar module mounting structures, railway electrification (OHE), Road & Railway Over-Bridges (ROB) and customised galvanized & non-galvanized steel structures.
STEL’s services include providing complete Engineering, Procurement & Control (EPC) for projects such as rural electrification, power transmission lines and solar power plants. STEL is among the leading manufacturers with the current installed capacity of 2,11,000 MTPA having supplied, 50,000+ Telecom Towers, ~746 km of Power Transmission Lines, ~629 km Railway Track, to 600+ clients in 25+ Countries.