As per the contract terms, 95% of the payment will be made against the inspection certificate issued by the nominated inspection agency and proof of dispatch or delivery of materials to the consignee. The remaining 5% will be released after final receipt, inspection, and acceptance of goods by the consignee.

The company also confirmed that neither its promoters nor promoter group entities have any interest in the awarding authority. Additionally, it clarified that the transaction does not fall under the category of related party transactions as per applicable regulatory norms.

Oriental Rail Infrastructure is engaged in the manufacturing and supply of several diversified railway products and items for Indian Railways and other related industries. Its products include seat & berths, recorn, compreg board & articles thereof, furniture & parts, coated upholstery fabric, plywood, phenolic resin & hardener, silicon foam, etc.

The company’s consolidated net profit jumped 22.9% to Rs 5.37 crore despite an 18.5% decline in revenue from operations to Rs 140.21 crore in FY25 over FY24.