Creative Newtech Files Addendum to ₹35.89 Crore FCI Smart Warehousing Order Disclosure

3 min read     Updated on 14 May 2026, 07:16 AM
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AI Summary

Creative Newtech Limited filed a revised Regulation 30 disclosure on 13th May 2026 after BSE sought additional details on its ₹35.89 crore FCI Smart Warehousing order across 150 depots. The addendum confirms no change in order value, scope, or timeline, with final commissioning within 180 days and three years of AMC support, clarifying the original omission was unintentional.

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Creative Newtech Limited has filed an addendum and revised disclosure dated 13th May 2026 with the National Stock Exchange of India Limited and BSE Limited, providing additional details in the prescribed format under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The addendum pertains to the company's earlier corporate announcement dated 12th May 2026, which disclosed an order worth ₹35.89 crore secured from the Food Corporation of India (FCI) for the FCI Smart Warehousing Project spanning 150 depots across India. The company clarified that the omission of the prescribed format details in the original filing was purely unintentional and that there is no change in the value, scope, nature, timeline, or other material terms of the order.

Background and Reason for Addendum

The addendum was submitted following a communication received from BSE Limited seeking additional details in respect of the original corporate announcement. Creative Newtech stated that the original announcement had provided broad details of the project, including the order value, scope of deployment, number of depots covered, project implementation timeline, and strategic importance. The revised disclosure now includes the complete order details in the format prescribed under SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company also noted that going forward, it will take due care to ensure all applicable details are included in the prescribed format at the time of filing such disclosures.

Order Details — Regulation 30 Prescribed Format

The following table presents the complete order details as submitted by Creative Newtech in Annexure A of the addendum:

Parameter: Details
Awarding Entity: Food Corporation of India
Order Value: ₹35.89 crore
Nature of Order: Implementation and deployment of smart warehousing, surveillance, IoT, AI-based monitoring and related technology infrastructure for FCI depots
Domestic / International: Domestic
Number of Depots: 150 depots across India
Execution Phases: Two phases of 75 sites each
Final Commissioning: Within 180 days
AMC Support: Three years thereafter
Related Party Transaction: No
Promoter Interest in FCI: No

Project Scope and Technology Deployment

The scope of the FCI Smart Warehousing Project involves the deployment of surveillance and AI-based smart warehousing infrastructure across FCI depots nationwide. The key components include:

  • Sensor modules for real-time monitoring
  • Bag counting systems to improve inventory accuracy
  • Boom barriers for access control
  • Gateway infrastructure for connectivity
  • Software platforms for centralized management
  • Surveillance and AI systems for intelligent monitoring
  • Intelligent monitoring systems for enhanced operational visibility

The project will be executed through Creative Newtech's strategic partnership with a system integrator, leveraging the company's implementation strength and deployment experience across its 31 offices and warehouses, enabling a coordinated rollout across all 150 depots.

Management Commentary

Commenting on the order, Mr. Ketan Patel, Chairman & Managing Director of Creative Newtech Limited, stated:

"A project across 150 FCI depots is a large responsibility, especially because it supports an important part of India's food storage network. For Creative Newtech, this is a proud moment because it allows us to bring our technology experience into a system that plays an important role in India's food supply chain. Our focus is to ensure a dependable, coordinated, and practical rollout across every site. We believe Creative Newtech can add strong value by combining planning, deployment capability, and on-ground execution, also opens a wider path for future FCI, government, PSU, smart infrastructure, logistics digitization, and mutually agreed international opportunities. For us, this is a strong step towards larger public infrastructure technology projects."

Strategic Significance

This order strengthens Creative Newtech's position in government-led digital infrastructure and smart technology deployment. The engagement expands the company's presence in surveillance, AI, and intelligent warehousing solutions—areas increasingly relevant across logistics, public infrastructure, and institutional storage systems. The project forms part of the Government of India's supply chain modernization initiative and aims to upgrade India's food storage infrastructure through IoT-based systems, intelligent monitoring, and advanced smart warehouse-level technology solutions.

About Creative Newtech Limited

Established in 1992, Creative Newtech Limited is a well-established company in India's Information and Communication Technology distribution market. The company operates an omni-channel network across online, offline, and retail trade channels and specializes in market entry and penetration for global brands. Creative Newtech is associated with over 20 renowned brands globally, offering end-to-end solutions spanning market research, import, distribution, sales, servicing, and marketing strategy execution. The company is headquartered at Kandivali West, Mumbai.


Source: Company/INE985W01018/Addendum dated 13th May 2026

Historical Stock Returns for Creative Newtech

1 Day5 Days1 Month6 Months1 Year5 Years
+14.04%+13.58%+13.81%+6.45%+3.86%+616.33%

Could the successful execution of the FCI Smart Warehousing Project position Creative Newtech to win larger-scale government contracts, and which PSUs or ministries might be the next potential clients?

How might Creative Newtech's revenue and margin profile evolve over the three-year AMC support period following project commissioning, given the recurring nature of such contracts?

Will Creative Newtech's system integrator partnership for this project lead to a more formalized joint venture or strategic alliance targeting future government smart infrastructure tenders?

Creative Newtech CFO Abhijit Kanvinde Resigns Citing Health and Age Concerns

2 min read     Updated on 14 Apr 2026, 01:00 PM
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Creative Newtech Limited announced the resignation of CFO Abhijit Divakar Kanvinde effective April 14, 2026, due to advancing age, health considerations, and demanding work hours. The resignation was accepted by Chairman Ketan Patel, with proper regulatory disclosures filed under SEBI regulations. Kanvinde confirmed no other material reasons for departure and committed to supporting the transition process.

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Creative newtech Limited has announced the resignation of its Chief Financial Officer, Abhijit Divakar Kanvinde, effective April 14, 2026. The company disclosed this development to the National Stock Exchange and BSE Limited in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.

Resignation Details and Timeline

Kanvinde submitted his resignation letter on April 14, 2026, which was received by the company through email on the same date with immediate effect. The resignation becomes effective from the closing business hours of April 14, 2026. Chairman and Managing Director Ketan Chhaganlal Patel formally accepted the resignation on April 14, 2026.

Parameter: Details
Effective Date: April 14, 2026 (closing business hours)
Submission Method: Email correspondence
Acceptance Date: April 14, 2026
Accepting Authority: Ketan Chhaganlal Patel, Chairman & MD
Shareholding in Company: NIL

Reasons for Departure

In his resignation letter, Kanvinde cited several personal factors that influenced his decision to step down from the CFO position:

  • Advancing age considerations
  • Certain health considerations
  • Demanding nature of working hours attached to the position

Kanvinde explicitly confirmed that there are no other material reasons for his resignation beyond those stated above, as required under SEBI regulations. He described the decision as not being easy, acknowledging that his journey with the company has been both professionally enriching and personally fulfilling.

Gratitude and Transition Support

In his farewell message, Kanvinde expressed sincere gratitude to various stakeholders who supported him during his tenure. He specifically thanked the Board of Directors, particularly founders and promoters Ketan Patel and Purvi Patel, for their constant guidance, trust, and support.

Kanvinde also acknowledged contributions from:

  • Accounts and finance team members
  • Leadership team colleagues
  • Internal and statutory auditors
  • Audit committee members
  • Independent Directors
  • Valued investors and stakeholders
  • Banking partners and business associates

The outgoing CFO committed to providing full support during the transition period to ensure a smooth and seamless handover of roles and responsibilities.

Regulatory Compliance

Creative Newtech Limited filed the resignation disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015, in accordance with Sub-Para 7, Para A of Part A of Schedule III. The company also complied with SEBI Circular no. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023, by providing detailed reasons for the resignation along with the complete resignation letter as Annexure I to the intimation.

The disclosure was signed by Tejas Doshi, Chief Compliance Officer & Company Secretary, confirming the company's adherence to regulatory requirements for key managerial personnel changes.

Historical Stock Returns for Creative Newtech

1 Day5 Days1 Month6 Months1 Year5 Years
+14.04%+13.58%+13.81%+6.45%+3.86%+616.33%

How quickly will Creative Newtech Limited appoint a new CFO and what qualifications will they prioritize for the replacement?

Could this sudden CFO departure signal potential financial challenges or strategic shifts within the company that investors should monitor?

What impact might the leadership transition have on Creative Newtech's upcoming quarterly earnings and financial reporting processes?

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1 Year Returns:+3.86%