Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

19 Sep 2025 CW Team

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.

In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.

The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm orders are valued at about Rs 2.14 billion, with optional orders at approximately Rs 1.17 billion, taking the total estimated value of the tender to Rs 3.3 billion.

“This significant achievement underlines the company’s growing presence and reliability in the bitumen supply chain and further strengthens our long-standing relationship with IOCL,” Agarwal Industrial Corporation said in a statement.

Primarily engaged in manufacturing bitumen and bitumen products, the company also transports liquefied petroleum gas (LPG) and bituminous products. Additionally, through its UAE subsidiary, it has expanded into ship operations and chartering.

Agarwal Industrial had reported a 66.59 per cent fall in consolidated net profit to Rs 130.3 million on a 16.12 per cent decline in revenue to Rs 5.94 billion in Q1 FY26 compared with Q1 FY25.

Infrastructure Urban

18 Nov 2025

PTC Expands Mehsana Plant To Boost Precision Manufacturing

PTC Industries Limited, a leading producer of high-precision castings and advanced materials for critical applications, has commenced a significant expansion of its investment-casting facility in Mehsana, Gujarat. With global supply chains undergoing a strategic realignment, industries are increasingly shifting production to resilient and trusted destinations. India is emerging as a major hub for precision manufacturing, creating substantial opportunities for industrial casting exports. In response, PTC is scaling and modernising its Mehsana site to capture rising global demand. The expansio..

Apollo Completes Acquisition Of IDL Explosives

Apollo Defence Industries Private Limited, a subsidiary of Apollo Micro Systems Limited, has confirmed the successful completion of its full acquisition of IDL Explosives Limited from GOCL Corporation Limited. With this transaction now concluded, IDL Explosives becomes a step-down subsidiary of Apollo Micro Systems. IDL Explosives operates manufacturing facilities in Rourkela and several other locations across India. Apollo Group plans to expand and strengthen the company’s operations in line with its strategic ambitions within the rapidly growing defence explosives sector. The acquisition..

GOCL Completes Sale Of IDL Explosives To Apollo Defence

GOCL Corporation Limited has announced the completion of the sale of its subsidiary, IDL Explosives Limited, to Apollo Defence Industries, marking the conclusion of the divestment process approved by shareholders earlier this year. IDL Explosives operates manufacturing units in Rourkela and several other locations nationwide. Apollo Defence plans to expand and reinforce the business in line with its strategic objectives within the rapidly growing defence sector. With this divestment, GOCL and the Hinduja Group complete their strategic exit from the explosives and detonators portfolio. Last y..