TTK Healthcare Loses $7.21M Contract with USAID over Executive Order 14169

TTK Healthcare Ltd. has lost a $7.21 million contract with the United States Agency for International Development (USAID) due to the Executive Order 14169 issued by President Donald J Trump. The order, which was issued on January 20, 2025, led to a Stop Work Order for a period of 90 days by the USAID - Global Health Supply Chain Program - Procurement and Supply Management (GHSC-PSM) Project. The Company had an exposure of Rs.5.86 crores (at cost) in Inventories and Rs.1.35 crores in Receivables. The Company subsequently received a sum of Rs.1.35 crores from USAID relating to receivables. However, the Inventories valued at Rs.5.86 crores (at cost) would not be accepted by USAID. The Company is planning to pursue all possible remedies including legal if it is warranted, to protect the interest of the Company.