We are pleased to inform that the Company has received a work order for the SITC of face recognition devices for Access Control and Time Attendance system from Mahindra & Mahindra Limited.
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Panabyte Technologies has received a work order from Mahindra & Mahindra Limited for the supply, installation, testing, and commissioning of face recognition devices used for access control and time attendance. The order is valued at Rs. 11.63 lakhs (including tax) and is to be executed within one month. The order is domestic in nature, and there is no related party interest involved. Mahindra & Mahindra is a well-known large private-sector corporate, but the order size itself is relatively small.
The order value of around Rs. 11.63 lakhs is modest in absolute terms and is unlikely to materially move the needle on revenue or earnings. However, winning work from a reputed name like M&M may serve as a credibility reference for future business.