Aarvi Encon Subsidiary Wins Work Contract Worth Approx. INR 38.50 Crores in Indonesia
PT. Aarvi Encon Services, a step-down subsidiary of Aarvi Encon Limited (AEL), has been awarded a significant work contract in Indonesia. The contract was secured from one of the Leading Multinational Engineering Companies, marking a substantial operational win for the company’s overseas operations.The work order was received on April 14, 2026. According to the terms of the contract, the assignment is effective starting May 1, 2026, and is set to run for a duration of two years.
The awarded contract details indicate that the nature of the agreement is a Manpower Supply Contract, sourced from an international entity.
The primary financial and operational details of the contract are as follows:
| Detail | Description |
|---|---|
| Award Date | April 14, 2026 |
| Service Effective Period | May 1, 2026, to April 30, 2028 |
| Nature of Service | Manpower Supply |
| Awarding Entity | Confidential (Non-Disclosure Agreement in place) |
| Approximate Value | INR 38.50 Crores (Rupees Thirty Eight Only). The company noted that this consideration may vary due to exchange rate fluctuations. |
| Related Party Interest | No |
AEL stated that the contract involves the supply of manpower and does not fall within related party transactions. The deal further solidifies the international operational scope for the subsidiary.
AARVI Stock Price Movement
Aarvi Encon Limited shares slipped by 5.24% on Monday, closing at ₹125.84. Throughout the session, the stock ranged between a low of ₹124.3 and a high of ₹130.98, recording a volume of 21,483 shares.Source:
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