Saakshi Medtech bags ₹250-crore order from Mahindra & Mahindra for supply of EV panels – CNBC TV18

SME company Saakshi MedTech and Panels Ltd on Tuesday (December 10) said it has received a letter of business award (LoBA) from Mahindra & Mahindra Ltd for the supply of electric vehicle (EV) panels.

“…we would like to inform you that Saakshi Medtech And Panels Limited has received a Letter of Business Award (LoBA) from Mahindra & Mahindra Limited for “Supply of EV Panels” including 3 (Three) years Guarantee/ Warranty. The total amount of the order value is for around ₹250 crore (inclusive of GST) for a period of 5 years (till 2029),” Saakshi MedTech and Panels said.

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The order, valued at approximately ₹250 crore (inclusive of GST), spans a five-year period ending in 2029. The contract includes a three-year guarantee or warranty on the supplied EV panels and specifies a delivery timeline of 60 days.

Saakshi Medtech and Panels manufactures electrical control panels and cabinets used in elevators, air compressors, the renewal energy industry, the oil & gas exploration industry and electrical vehicle charging stations, among others.

Shares of Saakshi MedTech and Panels Ltd ended at ₹200.05, down by ₹2.25, or 1.11%, on the NSE.

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