CWD Limited , a company listed on the BSE (Scrip Code: 543378), has announced the incorporation of a new subsidiary, Meshmerise Networks Private Limited, marking its entry into the Internet of Things (IoT) and smart metering solutions sector. This strategic move, disclosed in a regulatory filing on October 13, 2025, aims to broaden CWD Limited's business operations and enhance its market presence in the rapidly growing field of digital communication technologies.

Key Details of the Subsidiary

Business Focus

Meshmerise Networks is set to operate in the following areas:

• Designing and developing IoT solutions
• Smart metering systems
• Digital communication technologies
• Narrowband RF mesh networks
• Advanced cellular communication modules

The subsidiary will focus on providing hardware and software solutions for smart energy, utilities, and infrastructure applications.

Strategic Implications

This incorporation aligns with CWD Limited's growth strategy, aiming to:

• Expand business operations on a large scale
• Drive revenue growth
• Enhance market share in the IoT and smart metering sector

Regulatory Compliance

The company has duly informed the BSE Limited about this development, adhering to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Ministry of Corporate Affairs has approved the incorporation, issuing a Certificate of Incorporation for Meshmerise Networks Private Limited.

Market Impact

While it's too early to assess the financial impact, this move positions CWD Limited to capitalize on the growing demand for IoT and smart metering solutions. The company's entry into this sector could potentially open up new revenue streams and enhance its competitive position in the market.

As the IoT and smart metering industry continues to evolve, CWD Limited's strategic expansion through Meshmerise Networks demonstrates its commitment to innovation and growth in the digital technology space. Investors and industry observers will likely keep a close watch on how this new subsidiary contributes to CWD Limited's overall business performance in the coming quarters.

CWD Limited , a leading information and communication technology company specializing in IoT solutions and connected devices, has announced a significant milestone in its growth trajectory. The Mumbai-headquartered firm has secured a purchase order worth Rs 76.00 crores for supplying UPI sound boxes to a domestic financial service company.

Order Details and Execution

The order, slated for execution during the fiscal year 2025-26, involves the supply of fintech products, specifically UPI sound boxes. This substantial contract not only bolsters CWD Limited's order book but also reinforces its position as a key player in India's digital payment infrastructure.

Market Position and Growth

CWD Limited has established itself as a frontrunner in the sound box manufacturing ecosystem, with an impressive deployment of over 14 million Sound Boxes across India. The company's expertise in design, development, and manufacturing has made it a preferred partner for leading fintech companies and financial institutions.

Siddhartha Xavier, Joint Managing Director of CWD Limited, commented on the significance of this order, stating, "This order demonstrates customer confidence in CWD's design, development, and manufacturing capabilities and reinforces our position as India's leading provider of UPI payment confirmation solutions."

Financial Performance

The company has shown remarkable financial growth, reporting an 87.80% revenue increase in FY2025, with total revenues reaching Rs 33.82 crores. With this new order, CWD Limited's current order book stands at an impressive Rs 200.00 crores, providing strong revenue visibility for the upcoming fiscal years.

Product Features

CWD Limited's Sound Box solutions offer:

• Instant audio payment confirmation in multiple Indian languages
• Multi-connectivity options including 2G, 4G, and Wi-Fi variants
• IP65-rated durability for diverse operating environments
• Seamless integration with major UPI platforms
• "Made in India" manufacturing from the company's Mysore facility

Market Opportunity

The digital payments market in India continues to experience unprecedented growth. Industry projections suggest that UPI daily transactions could reach 1 billion by FY 2027-28, creating substantial opportunities for sound box manufacturers like CWD Limited.

About CWD Limited

Founded in 2016, CWD Limited operates across Consumer Electronics and Technology Solutions segments, serving various industries including agriculture, healthcare, manufacturing, logistics, and fintech. The company's focus on innovation and quality has positioned it as a significant contributor to India's digital payment infrastructure development.

As CWD Limited continues to capitalize on the expanding digital payment market, this latest order underscores the company's strong market position and potential for future growth in the dynamic fintech landscape of India.