JK Phillips LLP, a 50:50 joint venture between Jaykay Enterprises Limited and Phillips Machine Tools India Private Limited (a subsidiary of Phillips Corporation, USA), has received a significant Order/Letter of Acceptance (LOA) from Ircon International Limited. Ircon is a Navratna company and a Government of India undertaking, making this order a notable milestone for the joint venture.
Order Details and Scope
The LOA pertains to a domestic turnkey contract under GE-Package-1. The scope of work includes the design, supply, installation, commissioning, and training of various types of CNC machines. These machines will be deployed across MSME Training Centers located at multiple sites in India. The project aims to strengthen advanced manufacturing capabilities and improve access to modern digital manufacturing tools for MSMEs.
Contract Value and Timeline
The total contract value stands at ₹162.25 crore, inclusive of GST. The LOA was issued on December 16, 2025, with a defined completion period of 240 days from the date of award. The structured execution timeline reflects the scale and complexity of the project.
Strategic Importance
This turnkey project holds strategic importance as it supports capacity building, skill development, and digital transformation within the MSME ecosystem. By leveraging government-led procurement, the initiative contributes to the formalization and upskilling of MSMEs, aligning closely with the Government of India’s “Viksit Bharat” vision. For Jaykay Enterprises Limited, the order further strengthens its position in the high-technology digital manufacturing space through its partnership with Phillips Corporation, USA.
Regulatory Disclosure
In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Jaykay Enterprises Limited has made the necessary disclosures regarding the receipt of this LOA. The contract does not qualify as a related party transaction, and neither the promoter nor the promoter group has any interest in Ircon International Limited.