Sharika Enterprises Limited (the company) has received a work order from Punjab Energy Development Agency (PEDA) for the design, supply, installation and commissioning of 12 W LED based solar photovoltaic (SPV) street lighting systems in the State of Punjab for a consideration of Rs 104,238,292, equivalent to Rs 104.24 mn. The award was issued by a domestic government undertaking. The contract is a work order to be executed within 120 days.

The order, described in a regulatory filing submitted by the company, adds to the company's existing order book and will be executed under the terms disclosed to the stock exchange. The filing records that neither the promoters nor group companies have any interest in the awarding entity and that the contract does not constitute a related party transaction. The company specified performance obligations and compliance with the disclosure requirements under listing regulations.

The project covers the supply of LED luminaires, solar photovoltaic modules, battery storage and mounting structures necessary for street lighting deployment, along with civil and electrical works required for commissioning. The systems are intended for off grid street illumination utilising solar energy and LED technology to reduce energy consumption relative to conventional lighting. The delivery and commissioning schedule will be governed by the 120 day completion timeline specified in the work order and by applicable government standards.

The disclosure was submitted to the stock exchange in line with Regulation 30 of the listing obligations and disclosure requirements and included an annexure detailing the contract terms, size and execution timeline. The filing was signed by the company secretary and compliance officer, Pushpa Yadav, on behalf of the company. The work order represents a discrete contract for project execution within Punjab and will be recorded in the company accounts in accordance with applicable accounting and regulatory norms.