BSE listed Powersoft Global Solutions Ltd., India’s fastest growing RFID Company, today announced that it has received orders valued at approximately Rs. 300 lakhs for its proprietary RFID solution for SMEs from key customers further cementing its leadership in the SME sector.
Powersoft Global, a leading developer of radio frequency identification ("RFID") technology for manufacturing, retail, and supply chain applications with the goal of saving labor and improving sales, today announced that it has received orders valued at approximately Rs. 300 Lakhs for its innovative RFID solution for the SME sector. These orders are for retail and manufacturing implementations for small enterprises looking to take advantage of RFID in their supply chain. The order contracts require Powersoft Global to supply its proprietary RFID technology and integration services to the customers and are spread from six months to twelve months for different orders.
Powersoft Global had earlier introduced the first automated, off-the-shelf, Radio Frequency Identification (RFID) solution for small and medium enterprises. This offering includes an integrated approach to RFID tracking. The solution includes three components: several new versatile UHF RFID Tags; three new UHF Gen 2 Hand Held Readers; and RFID Manager, an RFID software solution.
"We're grateful that Powersoft’s proven technology solutions have managed to earn the trust of the SME enterprises," said Manish Poddar, the Company's Chief Executive Officer. "We are fully dedicated to continuing to deliver innovative products and solutions, and support our customer’s objectives and their immediate operational needs to enhance the visibility and management of critical assets throughout the supply chain."
He further added, “Powersoft Global is proud to be chosen to continue its heritage as the leading RFID company, on the job to provide state-of-the-art automatic identification capabilities anywhere in the world. The minimal investment required for our RFID solutions will certainly provide huge returns for companies by increasing visibility and tracking of product stocks and reducing critical supply chain inefficiencies. We will continue our RFID mission to provide best of breed solutions. For the first time, businesses of any size can experience the return on investment of RFID already gained by their large partners."
About PGSL
Powersoft Global Solutions Ltd. (PGSL) is a recognized leader in RFID solutions for clients in manufacturing, retail, libraries, hospitality and healthcare, and transportation & logistics. With in-depth experience and comprehensive solutions, PGSL provides leading edge RFID solutions to businesses and organizations in order to help them overcome problems associated with tracking of equipment, inventory and people.
The company is focused on providing complete RFID solutions using proprietary technology. PGSL has distinguished itself as the company of choice for delivering real value while simplifying the adoption of RFID. PGSL knows how to make RFID work for the benefit of its customers, whether providing end to end visibility through all manufacturing and distribution processes or tracking material and human assets. PGSL's solutions help create and sustain superior performance by improving visibility in processes and asset tracking.
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Our management team consists of seasoned veterans in software, hardware, RF technology, corporate development, and marketing. They have worked in important product development roles for major organizations including Fortune 500 companies.
Our engineering staffs, composed of highly experienced hardware and software engineers from the RFID industry, have developed RFID technology that is able to keep track of any activity associated with RFID tagged equipment and inventory in real time.
PGSL announced consolidated revenues of Rs. 5126 lakhs and PAT of Rs. 622.62 lakhs for nine months ended December 31, 2010 growth of 105% and 74% respectively for the previous corresponding period. Bangalore based PGSL has units in India, South-East Asia, Middle East, Europe and North America PGSL enjoys an impressive customer base including major Financial Institutions and Multi-National Corporations.
About Radio Frequency IDentification (RFID)
Radio frequency identification (RFID) is the use of an object (typically referred to as an RFID tag) applied to or incorporated into a product, animal, or person for the purpose of identification and tracking through radio waves.
The technology, which is said to have limitless possibilities for commercial, industrial and personal purposes, can be useful to companies or establishments that need to keep tabs on a huge inventory by easing their workload and processes.