Panabyte Technologies Limited has announced a significant milestone in its expansion within the technology hardware sector. The company has received a purchase order worth ₹1.06 crore for supplying 800 units of Walker brand laptops from a leading online platform partner.

Order Details

The order, which is scheduled for completion within one month, represents a strategic achievement for Panabyte Technologies. The company views this as a validation of the growing market demand for its Walker brand, which is registered under Panabyte Technologies Limited.

Key Points of the Transaction

Company Statement

In an official statement, Prakash Vichhivora, Chairman & Managing Director of Panabyte Technologies Limited, expressed delight at this development. He stated, "We are absolutely delighted as this significant purchase order stands as a strong validation of the growing market demand and trust in our 'Walker' brand, and marks a strategic milestone in accelerating Company's expansion in the technology hardware sector."

Transaction Nature

It's worth noting that this transaction involves a domestic entity and does not constitute a related party transaction. The company has confirmed that neither the promoters nor the promoter group have any interest in the entity that awarded the order.

Market Implications

This order comes as a positive development for Panabyte Technologies, potentially signaling increased traction for its Walker brand in the competitive laptop market. The successful execution of this order could pave the way for future growth and establish stronger partnerships with online retail platforms.

As the technology hardware sector continues to evolve, Panabyte Technologies' ability to secure such orders may be indicative of its growing presence and competitiveness in the market. Investors and industry observers will likely be watching closely to see how this development impacts the company's performance in the coming quarters.

Panabyte Technologies Limited (PTL) has announced a significant contract win from a prestigious government organization, showcasing its growing presence in the technology services sector.

Contract Details

PTL has been awarded a Non-Comprehensive Annual Maintenance Contract for the Fire Alarm System at the Master Control Facility (MCF) in Hassan, which operates under the Department of Space, Government of India. The contract, valued at Rs 7.59 lakh, is set to be executed over a period of two years.

Scope of Work

The company will be responsible for maintaining the Fire Alarm System at the MCF, Hassan. This contract underscores PTL's expertise in critical safety systems and its ability to secure projects from high-profile government entities.

Management's Response

Prakash Mavji Vichhivora, Chairman & Managing Director of Panabyte Technologies Limited, expressed the company's gratitude for the trust placed in them by the Department of Space. In an official statement, he said, "We are absolutely delighted and profoundly grateful for the trust placed in us by such a renowned organization."

Contract Significance

This domestic maintenance contract is noteworthy for several reasons:

1. Government Sector Engagement: It strengthens PTL's position as a trusted partner for government organizations.
2. Critical Infrastructure: The contract involves maintaining safety systems for a crucial space facility, highlighting the company's capabilities in handling sensitive projects.
3. Long-term Commitment: The two-year duration of the contract provides PTL with a stable revenue stream and the opportunity to build a long-term relationship with the client.

Regulatory Compliance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Panabyte Technologies Limited has duly informed the BSE Limited about this contract award. The company has provided all necessary details as required by the regulatory authorities, demonstrating its commitment to transparency and corporate governance.

Conclusion

This contract win represents a positive development for Panabyte Technologies Limited, potentially opening doors for future collaborations with other government departments and reinforcing its position in the technology services market. As the company embarks on this new project, stakeholders will be keen to see how this contract contributes to PTL's overall growth and performance in the coming years.