Panabyte technologies Limited has announced securing a substantial work order from Mahindra & Mahindra Limited worth ₹11,62,742.50 for advanced face recognition technology solutions. The company disclosed this development to BSE Limited under Regulation 30 of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, 2015.

Order Details and Scope

The comprehensive contract involves the supply, installation, testing and commissioning of face recognition devices specifically designed for access control and time attendance systems. This domestic order represents a significant business opportunity for Panabyte Technologies, demonstrating the company's capabilities in biometric security solutions.

Strategic Significance

The order from Mahindra & Mahindra Limited, a leading automotive manufacturer, reflects the growing demand for advanced biometric security solutions in industrial applications. Panabyte Technologies expressed gratitude for the trust and confidence placed by such a renowned organization in their technological capabilities.

Regulatory Compliance

The company has fulfilled all disclosure requirements under the SEBI Listing Regulations, providing comprehensive details as mandated by SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, and subsequent regulatory guidelines. The disclosure confirms that this contract does not involve any related party transactions and maintains arm's length dealing principles.

Execution Framework

The project encompasses a complete turnkey solution including supply, installation, testing and commissioning of face recognition devices. The one-month execution timeline demonstrates the company's commitment to efficient project delivery and customer satisfaction. This order strengthens Panabyte Technologies' position in the biometric security solutions market and showcases its ability to serve large corporate clients with sophisticated technology requirements.