This company expects the best annual result since its inception as it bags 7th order in a row worth 3.8 million USD from Israel
Apr 15, 2023
New Delhi [India], April 15 (ANI/NewsReach): Pressure Sensitive Systems India Limited, a small-cap listed company on BSE with BSE code: 526773, engages in the business of technology innovation and development as well as information software as a service for all corporates in India.
The company has won a bid to build a data storage facility for Israeli technology firm Insitu S2 Ltd. for a price of 3.8 million USD, or roughly 32 crores. The company aims to generate huge revenue from the data warehousing solution as it has the best resources from around the world.
The organization is currently working to fulfill this order by July 15, 2023, which has a 3-month completion deadline for the construction of this data warehousing facility.
The business has been providing technical services for the previous 36 years, but it now has a multinational presence, and the new generation leading the company has performed brilliantly since the beginning of 2023. The business has developed strong relationships with its new customers.
The company is becoming one of the preferred suppliers because of its dedication to quality, timely delivery, and customer satisfaction. The company has been able to maintain its position as one of the top providers in its segment due to its commitment to innovation and sustainability.
The shares of Pressure Sensitive Systems India Ltd opened today in the market at an upside of Rs6.78 and are currently trading at Rs6.86 apiece level, up by 1.15% from the previous close.
According to Managing Director of Pressure Sensitive Systems India Limited Bhagyesh Mistry, the company is aiming to reach a topline (revenue) of around Rs 180 crore from its Dubai-based subsidiary Global Markets Insights IT Services LLC for FY23-24.
The company had 7 big orders in the last quarter which are under completion and now this latest order adds a big milestone for the company.
As a result, the company's order book has grown to around 9.8m USD i.e. around 85 Cr INR.
In a stock exchange filing dated April 14, 2023, the Board of Pressure Sensitive Systems India Limited said, "In terms of Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, We are delighted to announce that our Dubai-based wholly owned subsidiary company, Global Markets Insights IT Services LLC, has successfully participated and won the bid for creating a data warehouse for Insitu S2 Ltd from Israel."
Bhagyesh Mistry, Managing Director of Pressure Sensitive Systems India Limited said, "This is an important milestone for our company." He added, "We are thrilled to receive this order from a leading Israeli technology company. It is a testament to the quality of our products and the trust our customers have in us. And we are expecting a few more orders in the data warehouse category from the European and Middle East markets."
The company is already known for working with IBM (Australia), IBM (UK), Ladu Gopal Ventures (India), Wahat Al Buten (UAE), Jordan Development Council, Startup National Central (Israel), etc.
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