Pressure Sensitive Systems India Ltd, A BSE-Listed firm secures 85 Cr orderbook with Israel Tech giant deal worth 30cr
Gujarat, India, 19th April 2023, ZEX PR WIRE, Pressure Sensitive Systems India Ltd, a small-cap listed company on the Bombay Stock Exchange (BSE) with the BSE code 526773, has achieved a major milestone by securing an order book worth more than 200 crores INR with the recent order from an Israel-based company. The company is involved in technological innovation and development business, as well as data analytics and information software as a service for all corporates in India.
The company has won a bid worth 3.8 million USD, which is approximately 32 crore INR, to set up a data warehouse facility for one of Israel’s giant technology companies, Insitu S2 Ltd. The company expects to generate significant revenue from this data warehousing product as it has the best resources from around the world.
In a stock exchange filing on 14th April 2023, the board of Pressure Sensitive Systems India Ltd announced that their Dubai-based wholly-owned subsidiary company, Global Markets Insights IT Services LLC, has successfully participated and won the bid for creating a data warehouse for Insitu S2 Ltd from Israel. The order is to be completed in three months, and the company is in the process of completing the order by 15th July 2023.
Mr. Bhagyesh Mistry, the Managing Director of Pressure Sensitive Systems India Ltd, said, “This is a significant milestone for our company. We are thrilled to receive this order from one of the leading technology companies in Israel. It is evidence of the high caliber of our goods and the confidence our clients have in us. We are also expecting more orders of the data warehouse category from the European and Middle East market.”
The company aims to reach a topline (revenue) of approximately 180 crores INR from its Dubai-based subsidiary, Global Markets Insights IT Services LLC, for the FY 23-24, according to Mr. Bhagyesh Mistry. The company has had seven significant orders in the previous quarter, which are under completion, and the latest one is adding a significant milestone for the company.
Pressure Sensitive Systems India Ltd has already worked with companies such as IBM (Australia), IBM (UK), Laddu Gopal Ventures (India), Wahat Al Butain (UAE), Jordan Development Council, and Startup National Central (Israel), among others. As a result, the company’s order book has reached approximately 9.8 million USD, which is approximately 85 crore INR.
Throughout the last 36 years, the company has been engaged in the technical services segment, but now it has a multinational presence around the world, and the new generation leading the company has shown commendable performance since the beginning of 2023. The business has forged close relationships with its new clients over this time.
The organization has become one of the chosen suppliers as a result of its dedication to quality, on-time delivery, and customer satisfaction. The firm has been able to keep its position as a top provider in its segment because of its commitment to innovation and sustainability.
The shares of Pressure Sensitive Systems India Ltd opened today in the market at an upside of ₹6.78 and are currently trading at ₹6.86 apiece level, up by 1.15% from the previous close. With this latest order from Insitu S2 Ltd, the company is poised to achieve new heights and establish itself as a leading player in the data warehousing segment.
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