Pursuant to Regulation 30 of SEBI Listing Regulations we are hereby intimating the stock exchanges that Joint Venture Agreement have been executed on 05 April 2024 amongst AT Railway Sub Systems Private Limited [the wholly owned subsidiary of Sidwal Refrigeration Industries Private Limited (''Sidwal'' the wholly owned material subsidiary of the Company)] and Yujin Machinery Ltd, a South Korea based Company and Sinkodia Pte. Ltd, a Singapore Company and Dujin International, a Hong Kong based Company for investment and formation of a new Joint Venture Company in India to carry on the business of manufacturing of all types of Driving Gears, Couplers and Pantograph for various rolling stocks, including all types of wagons, trams, Vande Bharat trains, regional rapid transit system etc in India or such other places agreed between the parties.