Pressure Sensitive Systems India Ltd achieves its 7th order in a row from an Israel company worth 3.8m USD approx 30 cr in the data warehouse sector

Pressure Sensitive Systems India Limited, a small cap listed company on BSE with BSE code: 526773, is engaged in technology innovation and development business as well as data analytics and information software as a service for all corporates in India.

The company has won a bid of 3.8m USD i.e. about 32 crores to set up a data warehouse facility for Israeli technology giant Insitu S2 Ltd. The order to build this data warehouse facility is to be completed in 3 months and the company is in the process of completing this order by July 15, 2023.

In a stock exchange filing dated April 14, 2023, the Board of Pressure Sensitive Systems India Limited stated, "In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to announce that our wholly owned subsidiary based in Dubai, Global Markets Insights IT Services LLC has successfully participated and won the bid to build a data warehouse for Insitu S2 Ltd from Israel."

Mr. Bhagyesh Mistry, the Managing Director of Pressure Sensitive Systems India Ltd said, "This is a significant milestone for our company," he further added, "We are thrilled to receive this order from one of the leading technology company in Israel. It is a testament to the quality of our products and the trust that our customers have in us. And we are also expecting some more orders of the data warehouse category from the European and Middle-east market."

Also, the company had 7 big orders in the last quarter which are coming up and now this latest order adds a big milestone for the company. As a result, the company's order book has grown to around 9.8m USD i.e. around 85 Cr INR.

 

According to its MD Bhagyesh Mistry, the company is aiming to reach a topline (revenue) of around Rs 180 crore from its Dubai-based subsidiary Global Markets Insights IT Services LLC for FY23-24. The company aims to generate huge revenue from the data warehousing product as it has the best resources from around the world.

Dedication to quality, timely delivery, and customer satisfaction has resulted in the company becoming one of the preferred suppliers. Due to its commitment to innovation and sustainability, the company has been able to maintain its position as one of the top providers in its segment.

The company has been operating in the technical services sector for the past 36 years but now has a multinational presence across the globe and the new generation leading the company has shown commendable performance since the beginning of the year 2023. During this time, the company has developed strong relationships with its new customers.

The company is already known for working with IBM (Australia), IBM (UK), Ladu Gopal Ventures (India), Wahat Al Buten (UAE), Jordan Development Council, Startup National Central (Israel), etc.

Shares of Pressure Sensitive Systems India Ltd opened the market today with a gain of ₹6.78 and are currently trading at ₹6.86 per share, up by 1.15% from the previous close.