SBC Exports Lands ₹17.56 Crore Export Order from Dubai
Big news from the apparel sector! 🧵 SBC Exports Limited (SBC) has just announced a major win, finalizing a substantial export order from HUXXE Readymade Garments Trading LLC, a Dubai-based company specializing in readymade garments.
This isn’t just any order; it’s an initial work order valued at a whopping ₹17.56 crore! SBC Exports will be supplying a variety of garment articles, including T-shirts, trousers, and shorts, to their new international client. This move is a significant step for the company, especially as it follows up on their earlier announcement regarding this proposed business transaction.
The company anticipates that this new engagement will start contributing to its revenue streams within the current financial year. More excitingly, it’s expected to support a projected 15-20% annual growth in export turnover. This strategic deal is poised to enhance profitability, diversify SBC’s market exposure, and strengthen its competitive standing in the global apparel industry. Talk about a growth catalyst! 📈
Let’s dive into some of the key terms of this exciting deal:
- Payment: HUXXE Readymade Garments Trading LLC will make payments within 90 days from the date of receiving the goods.
- Currency: All consideration for the order will be in US Dollars, which is great for managing foreign exchange risks.
- Expenses: Interestingly, all expenses related to insurance and freight will be borne by the Dubai-based buyer, HUXXE, making it a sweeter deal for SBC Exports.
- Execution: The order is slated to be executed within one year from the purchase order date.
This is a purely international deal, and SBC Exports has confirmed that there’s no related party interest involved, ensuring a clean, arm’s-length transaction.
Following this positive announcement, SBC shares saw a notable uptick, trading at ₹19.21, up 4.8%. It seems investors are also optimistic about the company’s expanded international footprint. Keep an eye on SBC Exports as they continue to weave their way into the global market! ✨
source: Corporate Announcement
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