Vakrangee Limited announced that its subsidiary, Vortex Engineering Private Limited, has signed a significant service level agreement with UCO Bank. The contract, valued at Rs 12.81 crore, involves the supply, installation, and maintenance of 300 new ATM machines over a seven-year period.

Contract Details

Vortex Engineering's Capabilities

Vortex Engineering, a subsidiary of Vakrangee Limited, has established itself as a leading provider of ATM solutions:

• Successfully deployed over 14,000 ATMs across various locations
• Annual production capacity of 12,000 units
• Holds 9 registered patents in ATM and cash dispenser technologies

Technological Innovation

Vortex has developed 'PERFO', a remote ATM monitoring platform that offers:

• Real-time oversight
• Predictive maintenance
• Efficient fleet management
• Cross-platform and cross-vendor compatibility

Strategic Importance

This contract with UCO Bank, a leading public sector institution, underscores Vortex's role in building resilient and future-ready banking infrastructure across India. The company's focus on sustainability, scalability, and operational excellence positions it at the forefront of the ATM technology landscape.

Alignment with National Initiatives

As a Swadeshi company, Vortex aligns with the Make-in-India vision and the "Atma Nirbhar Bharat" mission by:

• Emphasizing domestic design, development, and manufacturing
• Strengthening India's digital financial ecosystem
• Fostering local innovation and technological sovereignty
• Contributing to employment generation

About Vakrangee Limited

Vakrangee Limited has emerged as one of India's largest Last Mile Distribution Platforms, offering:

• Real-time banking and financial services
• ATM services
• Insurance
• E-governance
• E-commerce (including healthcare services)
• Logistics services

The company operates through:

• Physical Outlets: "Vakrangee Kendra" - one-stop shops for various services and products
• Digital Platform: BharatEasy Mobile Super app

Vakrangee's extensive network aims to enable financial, social, and digital inclusion across urban, semi-urban, and rural markets in India.

This latest contract secured by Vortex Engineering reinforces Vakrangee's commitment to expanding financial services accessibility and supporting the growth of India's banking infrastructure.

Vakrangee Limited , a leading last-mile distribution platform, has announced robust financial results for the first quarter, along with several strategic initiatives aimed at enhancing shareholder value and corporate governance.

Financial Performance

The company reported a significant improvement in its financial performance for Q1:

• Total income increased by 18.00% year-over-year to ₹7,034.70 lakhs
• Profit After Tax (PAT) grew by 48.50% year-over-year to ₹331.90 lakhs
• Cash Profit (PAT + Depreciation) rose by 24.30% year-over-year to ₹761.60 lakhs

Vakrangee's Gross Transaction Value (GTV) for the quarter crossed ₹13,928.40 crores, with the number of transactions exceeding 2.60 crores.

Operational Highlights

Vakrangee continues to expand its network and services:

• The company operates 22,892 outlets across 33 states with presence in 605 districts
• Its subsidiary, Vortex Engineering, shipped 657 ATM machines in Q1, representing a 57.60% growth in units shipped
• Vortex Engineering recorded a 23.20% year-over-year revenue growth

Strategic Initiatives

• Vakrangee secured strategic software deals from Caribbean Island and Africa
• The company received a letter of intent from Punjab & Sind Bank for 600 new ATM machines
• Focus on expanding non-cash banking services including account opening, loans, insurance, and mutual funds to drive financial inclusion

Financial Position

Vakrangee maintains a debt-free status, positioning it well to support its expansion plans and pursue sustained long-term growth.

Outlook

As Vakrangee continues to evolve its business model to adapt to the growing digital economy, it remains committed to building a long-term, sustainable, and profitable platform for financial inclusion and last-mile service delivery across India. The company's focus on high-margin businesses while phasing out low-margin operations is expected to optimize its overall performance in the coming quarters.