Mumbai, Oct. 17 -- The order will be executed and delivered in tranches by June 2028.

The company also clarified that neither its promoters nor any members of the promoter group have any interest in the awarding authority. Furthermore, the company confirmed that the transaction does not qualify as a related party deal under applicable regulations.

NIBE operates in manufacturing critical components for the defence sector, electric vehicles (E-Vehicles), and software development. The company is engaged in fabrication and machining of components used in the defence sector, as well as assembly of components for E-vehicles.

The company's consolidated net profit dropped 75.97% to Rs 1.90 crore in Q1 FY26, compared to Rs 7.91 crore posted in ...