Indent and intent shouldn’t be mixed up. Indent here is a kind of call-off or request for services/supply against an agreed scope of work which is included in the purchase order. And which is what you see here.
Letter of intent is basically an unofficial agreement between seller and buyer to have a transaction without a legally binding purchase order in place.
So in case of Kotyark it seems they started the work not based on letter of intent but actual purchase order. But their problem as per the excerpt produced by you is delays in getting purchase order and not being committed the full scope of supply, as stipulated in POs, by their buyers. This leads to mismatch in booking and actual revenue of the company that eventually shows up in P&L.
Let’s hope they can resolve this with their buyers although I would say this is a very common with large government buyers.
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