Pursuant to Regulation 30 read with Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Customer Contract ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Infronics Systems Ltd has informed the stock exchanges that its customer contracts with Bharat Sanchar Nigam Limited (BSNL) for providing Bulk SMS Solutions to Sir M Visveswaraya Cooperative Bank Ltd and Canara Bank have been completed. Revenue from these contracts was recognized based on SMS count confirmed by BSNL. Importantly, these contracts have not been renewed after their completion, and the company itself acknowledges that its revenue will be impacted as a result. No specific financial figure for the lost revenue has been disclosed in this filing.
Negative for shareholders — the loss of these BSNL contracts means a direct hit to the company's revenue stream with no replacement announced. Given Infronics is a small company, the non-renewal of these contracts could meaningfully affect its top line and may weigh on the stock in the short term until new business is secured.