Gravita India Updates On The Order Received From Kyen Resources
2018-10-06 Announcements Metallurgical Industries Northern India
Gravita India Limited hereby informs that order received for supply of 18,000 MT of Pure Lead and Lead Bullion worth Rs. 300 Crores from Kyen Resources Pte. Ltd., Singapore as informed by the company on 15th March 2018 could not be completed and the contract entered with them has been terminated due to some management and financial issues at the end of Kyen Resources Pte. Ltd., Singapore. Till date the company has supplied approx 3,800 MT of material to Kyen Resources and company has planned to divert the remaining supply of 14,200 MT to some other customers and management of the company is of the view that termination of above contract will not have any material impact on the financials of the company as the company is already having an order book of approx Rs. 260 Crores in hand for Lead, Aluminium and Plastic products.