Panache Digilife Subsidiary Wins Major INR 11.84 Crore GIS Contract! 🚀

Hey there, finance enthusiasts! 👋

We’ve got some exciting news from Panache Digilife Limited (Symbol: PANACHE) that’s worth diving into. The company recently announced that its subsidiary, Panache Newage Technology Private Limited, has bagged a significant work order!

So, what’s the big deal? Panache Newage Technology, which was formerly known as ICT Infratech Services Private Limited, has secured a contract for Geographic Information System (GIS) and its services. If you’re wondering what GIS is, think of it as a powerful mapping and data analysis tool. It helps organizations manage and analyze spatial data, which is super useful for planning infrastructure, managing assets, and optimizing operations – especially for large networks like those in telecom and electrical sectors. 🗺️

The client? A “reputed Telecom and Electrical Equipment manufacturing company.” While the name isn’t disclosed, securing a deal with such a prominent player speaks volumes about Panache Newage Technology’s capabilities.

Now, let’s talk numbers! This domestic order is valued at a substantial INR 118.40 million (which is INR 11.84 crore) and is set to be executed over approximately 36 months. That’s a solid three-year revenue visibility from a single contract! This kind of long-term engagement can provide a stable revenue stream and boost the company’s order book.

It’s also good to note that the company confirmed this isn’t a related party transaction, ensuring transparency and standard business practices.

This new work order highlights Panache Digilife’s growing presence in the specialized GIS services market through its subsidiary. It’s a positive development that could contribute significantly to the company’s financial performance in the coming years. Keep an eye on how this unfolds! ✨

Stay tuned for more updates from the world of finance!

source: Corporate Announcement

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