In Tuesday’s trading session, the shares of a leading player in the electronics industry surged by nearly 20 percent to hit a new 52-week high at Rs. 1,144 on BSE, after the company signed a Master Supply Agreement (MSA) with PhonePe, valued at Rs. 100 crores.
With a market capitalisation of Rs. 396.5 crores, at 10:48 a.m., the shares of CWD Limited were trading in the green at Rs. 1,100, up by 15.3 percent, as against its previous closing price of Rs. 953.8.
What’s the News:
According to the latest regulatory filings with the BSE, CWD Limited signed a Master Supply Agreement (MSA) with PhonePe, one of India’s leading fintech companies.
Under the terms of the agreement, CWD Limited will be responsible for the end-to-end design, development and manufacturing of the innovative Sound Box device, and the 2-year deal is valued at Rs. 100 crores. The Sound Box, a payment solution, has revolutionized the way merchants receive and confirm UPI transactions.
Also Read
By integrating seamlessly with PhonePe’s platform, the device provides a multilingual audible confirmation of payments, enabling merchants to focus on serving customers without the need to constantly monitor their mobile devices.
Previous Order:
On 29th April, CWD Limited announced the receipt of a Payment Order valued at over Rs. 9 crores with the potential to grow 3-5 times over the next two years for the supply of Sound Boxes from a leading FinTech Service Company.
The new order follows the company’s previous announcement made on 4th March of a Rs. 23 crore order for the design, development and manufacturing services for the Sound Box product line.
Financials:
Financially, the company experienced a fall in its revenue from operations, showing a marginal year-on-year decline of nearly 7.5 percent from Rs. 22.7 crores in FY22-23 to Rs. 21 crores in FY23-24.
Similarly, its net profit decreased during the same period from Rs. 2.2 crores to Rs. 1.13 crores, indicating a decline of 48.6 percent YoY.
About the company:
CWD Limited, formerly known as CWD Innovation Limited, is a leading IoT design house specializing in the design, development and manufacturing of cutting-edge devices.
It is an Information Communication Technology company and has established itself as a trusted partner for companies across various industries, including fintech, healthcare, consumer electronics and agriculture solutions.
Written by Shivani Singh
Also Read
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
