Atishay has received a Letter of Intent for a Rs 2.34 crore order from the Punjab Urban Planning & development Authority (PUDA), Government of Punjab. The contract covers end-to-end scanning, digitization, indexing, and records management services for PUDA and its regional authorities, with a duration of 12 months.

The order was disclosed to exchanges on 28 September 2026. It is classified as significant and does not involve any related party transactions or promoter interest in the awarding entity.

Order Details

Company Order Track Record

Order inflow has continued into Q2FY27, with Atishay disclosing significant orders from multiple domestic government entities across the last three fiscal quarters. The orders span municipal corporations, state health agencies, state data centres, and urban planning authorities.

*Note: The Q2FY27 summary includes orders disclosed on 12 August 2026, 11 September 2026, and 28 September 2026.

Financial Context

The financial significance of this order is difficult to gauge using standard multiples because the company's Trailing Twelve-Month (TTM) revenue is reported as Rs 0.0 Cr. With a zero revenue base, the book-to-bill ratio and order book coverage in quarters cannot be computed. This new Rs 2.34 crore order adds to the existing disclosed backlog alongside prior wins from other government entities.

Company Profile and Valuation

Atishay operates in the Information Technology sector, specifically in Software Products. As of 28 September 2026, the company had a market capitalization of Rs 149.99 Cr, classifying it as a microcap. The stock traded at a P/E ratio of 26.8x and a Price/Book ratio of 2.75x on that date.

Return ratios for FY26 show a Return on Capital Employed (ROCE) of 17.57% and a Return on Equity (ROE) of 12.96%. Promoter holding stood at 74.65% in Q1FY27.

Atishay Limited has secured approval from RajCOMP Info Services Ltd (RISL) to add UPI ATM Cash Withdrawal services to its e-Mitra platform. The company disclosed the development in a filing with the BSE on September 4, 2026.

The new services will be available across all 79,170 registered e-Mitra kiosks operating on the portal. This expansion extends the company’s reach across the State of Rajasthan, leveraging the existing infrastructure of the government initiative.

Strategic Expansion

The addition of cash withdrawal capabilities marks a significant milestone for Atishay Limited. The move reinforces its partnership with RISL and demonstrates confidence in the company’s execution expertise for technology and IT-enabled solutions supporting government initiatives.

e-Mitra is an initiative of the Government of Rajasthan launched in 2002. It provides Government-to-Citizen (G2C) and Business-to-Citizen (B2C) services, including utility payments, banking, insurance, and certificates, across rural and urban areas.

Financial Impact

Atishay Limited stated that the addition of these services does not have any immediate financial impact that can be quantified. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

What the Numbers Show

The scale of the rollout is defined by the existing network size. With 79,170 registered kiosks, the potential addressable market for the new UPI ATM service is immediate and widespread within Rajasthan. However, the absence of quantifiable immediate financial impact suggests that revenue recognition from this specific service addition will likely be gradual or dependent on user adoption rates rather than upfront licensing fees.