Subject: Strategic Partnership Agreement with VEC Consultancy LLP. Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, ....
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iCodex Publishing Solutions has entered a Strategic Partnership Agreement with VEC Consultancy LLP on November 10, 2025, to execute Government PSU projects on a back-to-back basis. The identified projects are from Bharat Electronics Limited (₹45 Crores) and ITI Limited (₹30 Crores), totaling around ₹75 Crores. iCodex will serve as the exclusive strategic partner handling project implementation, hardware/software deployment, manpower, and vendor management, while VEC will oversee quality control and coordination. The company will place a refundable Performance Deposit of ₹10 Crores and expects topline revenue of about ₹60 Crores with projected profit of around ₹3 Crores. The agreement is not a related party transaction and requires no regulatory approvals, with jurisdiction in Pune.
This is a positive development for shareholders as it gives iCodex a foothold in large-scale Government and PSU technology projects, potentially boosting future revenue and profitability. However, the ₹10 Crore Performance Deposit carries execution risk, and actual earnings depend on successful project delivery. The stock may see positive short-term sentiment given the size of the opportunity relative to the company's profile.