Canarys Automations secures ₹4.24 crore Azure billing order
Canarys Automations Limited secured a ₹4.24 crore contract from Finfactor Technologies Private Limited for Azure billing services over 12 months. The order, disclosed under Regulation 30, supports the client's cloud-first strategy and focuses on cloud optimization and security. This partnership aligns with Canarys' roadmap to scale its Cloud, AI, and ML capabilities globally.
*this image is generated using AI for illustrative purposes only.
Canarys Automations Limited has secured a major contract worth ₹4.24 crore from Finfactor Technologies Private Limited to provide Azure billing services. The 12-month engagement, valid from the date of signing the Statement of Work, involves raising monthly invoices in Indian Rupees for the client's Azure service consumption. This partnership aims to accelerate Finfactor Technologies' cloud-first strategy by providing a secure, scalable, and high-performance platform for growth.
The contract was awarded under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Raghu Pavan, Chief Information Officer (CIO) of canarys automations , stated that the strategic Digital Transformation partnership will focus on adopting in-house solutions for cloud optimization, security best practices, and infrastructure scalability. He added that this aligns with the company's roadmap to scale Cloud, AI, and ML capabilities to deliver large-scale engagements globally.
Contract Details
The following table outlines the key particulars of the order:
| Particulars | Details |
|---|---|
| Name of the entity to which order is awarded | Canarys Automations Limited |
| Whether order is awarded to domestic/international entity | Domestic |
| Significant terms and conditions | Provide Azure billing services by raising monthly invoice in INR for client's Azure service consumption |
| Time period associated with the order | Valid for a term of 12 months with the Purchase Order (PO) to be issued annually |
| Broad commercial consideration | ₹4,24,80,000 (Rupees Four Crores Twenty-Four Lakhs Eight Thousand Only) |
| Promoter/Promoter group interest | No |
| Related party transaction | Not a related party transaction |
Strategic Implications
This win highlights Canarys Automations Limited's dedication to delivering solutions and marks a milestone in its solutions journey. The company, headquartered in Bengaluru with a subsidiary in New Jersey, USA, specializes in Dev-Ops, GitHub, Azure, AWS, and GCP. With over 35 years in business, Canarys is a Microsoft Qualified-DevOps FastTrack Partner and a GitHub Verified Partner. The company went public in 2023 and acquired Fortira Inc in the US, focusing on Data & AI.
Historical Stock Returns for Canarys Automations
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -5.10% | +4.07% | +8.78% | -34.35% | -30.68% | -50.48% |
How will this contract impact Canarys Automations' revenue growth in the upcoming fiscal year?
What are the potential expansion opportunities for Canarys in the cloud billing services market following this partnership?
Could this engagement lead to similar contracts with other clients in the fintech or cloud-first sectors?
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