Sunita Tools Ltd delivers samples/ prototype to customer

Sunita Tools Limited has delivered samples / prototype and its various approved test reports for Interim Sales Agreement for NATO Spec & Standard 155mm M107 artillery shells to the customer.

Under this Sales Agreement Sunita Tools Limited had to supply these Samples / Prototype NATO STD shells as the first lot, so we have done the same. The samples were ready since long however due to shipping channel disturbance there was delay.

NMI the USA business where Sunita Defence Inc 100% subsidiary of Sunita Tools Limited has majority stake has received order of USD 97,632 from a reputed Supply Chain Company, NMI is also now approved by Southern State Coop as a vendor, Southern States is a Richmond, Virginia‐based farm supply and service cooperative, founded in 1923 that now has more than 300,000 farmer‐members. As one of the nation's largest agricultural cooperatives, it provides a wide range of farm inputs, including fertilizer, seed, livestock feed, pet food, animal health supplies and petroleum products, as well as other items for the farm and home. The cooperative serves its members and non‐member customers through 1,200 retail outlets. This is a major development and will increase order book sizably from July onwards.

Sunita Tools Limited Legacy Business too has started the financial year well and has a very healthy order book presently for the month of June / July.

Sunita Tools Limited is currently evaluating proposals from leading professional services firms for a comprehensive organizational due diligence review and plans to initiate the process at the earliest.

Commenting on this development, Mr. Sanjay Pandey, Chairman & Whole Time Director of Sunita Tools Limited said: "We are pleased to announce that the samples have been delivered for the for NATO standard 155mm M107 shells prototype order made well in time and of specified quality standards. We also update that the USA acquisition is performing well and as expected, Legacy business too is growing as per expectation. Also, we intend to become a well-governed and compliant corporate entity; thus, we intend to get our due diligence done by a leading global professional services or reputed advisory firm soon."

Shares of Sunita Tools Limited was last trading in BSE at Rs. 696.35 as compared to the previous close of Rs. 702.15. The total number of shares traded during the day was 44000 in over 160 trades.

The stock hit an intraday high of Rs. 733.70 and intraday low of 688.00. The net turnover during the day was Rs. 30945081.00.

Source : Equity Bulls

Keywords

SunitaTools INE0Q1S01010 IndustrialProducts Sample Prototype Delivery