Salasar Techno Engineering has emerged as the highest bidder in the acquisition of M/s EMC (under Liquidation) through an E-Auction facilitated by the Liquidator, as appointed by the Hon`ble National Company Law Tribunal (NCLT), Kolkata Bench. The auction took place on 14 March 2024 with the highest bid amounting to Rs. 178 crore.  `SALASAR` has been officially announced as the successful bidder and Letter of Intent has been issued by the Liquidator. This letter outlines the terms and conditions necessary to finalize the sale of the company as a going concern, including the balance sale payment by Successful Bidder as per the provisions of the Insolvency and Bankruptcy Code and the Liquidation Process Regulations.Powered by Capital Market - Live News

Salasar Techno Engineering has secured a Notification of Award (NOA) for 7 distinct contracts aggregately worth Rs. 1033.78 crore from Tamil Nadu Generation and Distribution Corporation (TANGEDCO). As part of the contract, Salasar, operating within the framework of Revamped Reforms based and Results-linked, Distribution Sector Scheme :- Will deliver a comprehensive turnkey service (except supply of DTs, Poles, and its Base Plate) in Coimbatore District of Tamil Nadu. - Will undertake the development of distribution infrastructure prioritizing the reduction of losses and the enhancement of operational efficiency across various districts of Tamil Nadu. These include Tiruvallur, Kanchipuram, ChengalpaZu, Karur - Rural Division in Karur District, Karur District, Krishnagiri District, Pallikonda, Vellore & Katpadi divisions in Vellore district, and Gingee division in Villupuram district. Powered by Capital Market - Live News

Net profit of Salasar Techno Engineering rose 56.20% to Rs 16.76 crore in the quarter ended December 2023 as against Rs 10.73 crore during the previous quarter ended December 2022. Sales rose 26.20% to Rs 303.88 crore in the quarter ended December 2023 as against Rs 240.80 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales303.88240.80 26 OPM %12.339.99 - PBDT25.9316.38 58 PBT23.1314.39 61 NP16.7610.73 56 Powered by Capital Market - Live News

Salasar Techno Engg. will hold a meeting of the Board of Directors of the Company on 3 February 2024.Powered by Capital Market - Live News

Salasar Techno Engg. will hold a meeting of the Board of Directors of the Company on 3 February 2024. The meeting would commence at 04:00 P.M.Powered by Capital Market - Live News