The share price of this micro-cap company gained up to 20 percent to an intraday high price of Rs 1,078.80 per share on Wednesday after the company launched tailored-made Smart Meter Communication modules for the Indian market.
At 11:00 a.m., CWD Ltd shares were trading at Rs 987 per share, up Rs 88 or 9.79 percent from the previous close price on the exchange. The company has a market capitalization of Rs 357 crore.
According to the company’s exchange filing, CWD Limited announced its strategic entry into the smart meter segment by Introducing Innovative Smart Meter Communication Solutions for the Indian Market. The company’s smart meter communication module is designed to operate on the 2.4Ghz frequency
CWD Limited’s innovative smart meter connectivity solution stands out for its low cost and suitability for the diverse Indian markets. One of the key strengths of CWD Limited’s solution lies in its simplicity of deployment and adoption
CWD Limited has formed a strategic alliance with a leading smart meter manufacturer. And has achieved over 100 thousand successful installations, CWD Limited’s smart meter solution has proven its reliability and effectiveness in real-world scenarios.
The Indian smart meters market holds immense potential, driven by government initiatives like the National Smart Grid and Smart Cities Missions as well as the Ujwal DISCOM Assurance Yojana (UDAY), the demand for reliable and cost-effective smart meter solutions is on the rise.
According to industry experts, the smart meters market in India is expected to increase significantly in the next years (market size of USD 3.3 billion by 2031).
The company’s revenue has increased 51 percent yearly, from Rs 15.02 crore in FY 21-22 to Rs 22.72 crore in FY 22-23. During the same timeframe, Net profit has declined by 30 percent from Rs 3.10 crore to Rs 2.15 crore.
In FY23, the company accounted for 56 percent of revenue from the domestic market and 38 percent of revenue from the international market.
Connected Wireless Devices (CWD) Limited is an information and communication technology-based company that is engaged in the design, development, manufacturing, and selling of integrated solutions with the use of software and electronics.
The company’s business segments include smart Connectivity Modules, Connected Products, Electronics Design, Product Design, and Software Design.
Written by Omkar Chitnis
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