MIC Electronics Limited has informed the Exchange regarding, the company has received a BIS Certificate from the Bureau of Indian Standards, New Delhi.
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Awaiting price reaction for this filing.
MIC Electronics has received a BIS (Bureau of Indian Standards) certificate for its Automatic Data Processing Machine product, complying with IS 13252 (Part 1): 2010 / IEC 60950-1: 2005 standards. Separately, the company has bagged a two-year Annual Maintenance Contract from the South Central Railway Zone for 10 indoor and 5 outdoor display boards at Vijayawada Railway Station. The BIS approval allows the company to commercially sell this product in the Indian market. The railway AMC adds to recurring service revenue though the contract value was not disclosed.
Mildly positive for shareholders. The BIS certification opens up domestic market opportunity for the data processing product, while the railway AMC provides steady service income. However, with no order value disclosed, the near-term financial impact is likely limited.