IFL Enterprises Ltd secured export orders worth USD 8.16 million – Approx. Rs. 67 crore

Order shipments for the export orders are scheduled from June 2023

Ahmedabad (Gujarat) [India], May 2: Ahmedabad-based IFL Enterprises Ltd – the leading company in the business of trading all kinds of papers and stationery items has secured export orders from Kenyan company, Frereana Holding Ltd. The order is for the supply of writing books, textbooks, bond paper, and copier papers for schools in Kenya. The total FOB value of the order is estimated worth USD 8.16 million (approx. Rs. 67 crores) which is to be completed within 1 year.

The company has completed the due diligence with the overseas partner. The export shipments are scheduled from June 2023 and are expected to be completed by March 2024. The order is subject to 80% advance payment as per the agreed terms of the contract, the balance 20% on order delivery. Frereana Holding Ltd in its letter confirming the order to IFL Enterprises Ltd dated 21 April 2023 has stated that the Government of Kenya has awarded the company to supply writing books, textbooks, bond paper, and copier paper which is placed with IFL Enterprises Ltd.

Commenting on the development, Mr. Dolar Shah, Managing Director & CFO, IFL Enterprises Ltd said, “We are happy that our company has won a prestigious order worth USD 8.16 million which is to be executed in the FY23-24. This order is subject to 80% initial advance payment as per the agreed terms. Shipments are expected to start from June 2023. The company is working towards executing its growth strategy in a manner that creates exponential value for all stakeholders while consistently delivering quality services. Company is expected to grow from strength-to-strength and poised for rapid growth in the years to come.”