Shares of the ICT and IoT company rose 5 percent to Rs.188.19 per share after signing an Enterprise Devices License Agreement (EDLA) with Google to utilize its advanced technology for developing scalable digital solutions in sectors like education, healthcare, and enterprise.
Price Movement
In Thursday’s trading session, Panache Digilife Ltd’s share price reached an intraday high of Rs.188.19 per share, hitting a 5 percent upper circuit from its previous closing price of Rs.179.23 apiece. In the past six months, the shares have delivered over 140 percent returns.
What is the news
Panache Digilife Limited has entered into an Enterprise Devices License Agreement with Google, marking a significant step in its digital innovation journey. This collaboration allows Panache to tap into Google’s advanced technology to create scalable, secure, and future-ready digital solutions, with a focus on education, healthcare, and enterprise sectors.
The agreement strengthens Panache’s ability to expand its digital offerings and meet the evolving needs of its global clients. The agreement positions Panache to better meet the evolving needs of its global clients. With a focus on future-ready solutions, the company can expand its reach in both domestic and international markets.
This strategic move may help Panache capture a larger share of the growing digital transformation market, particularly in sectors that are increasingly reliant on technology.
Recent Developments
Recently, Panache Digilife Limited ventured into next-generation AI servers, designed to address the increasing demands of Small and Medium Businesses (SMBs) and Data Centers. These advanced servers aim to enhance digital infrastructure and provide cutting-edge capabilities to support the evolving needs of modern businesses.
The company has also secured a manufacturing and supply agreement with a US-based brand for advanced media gateway devices, which will enhance its product portfolio and expand its market presence, further driving the need for increased production capacity.
Financials
In its recent financial update for the quarter ending June 2024, Panache Digilife reported revenue from operations of Rs.282 crore, reflecting a 78 percent incline from Rs.514.96 crore in Q1 FY24. Net Profits also improved to Rs.18 crore from a net loss of Rs.13 crore in the same period.
Company Profile
Panache Digilife Limited is an Indian company specializing in the manufacturing and distribution of Information and Communication Technology (ICT) products, including thin clients, point-of-sale systems, and digital signage. The company serves a global client base and is recognized as a Local Device Partner for Microsoft, enhancing its competitive position in the market.
Written by – Siddesh S Raskar
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