Aimtron Electronics announced that it has entered into a manufacturing agreement with Vanix Technologies for the development of industrial internet of things (IIoT) and AI appliances.
The purpose of entering into the contract is to develop IIoT and AI appliances by manufacturing 0.25 to 2 million IoT devices over the next five years.The company is expected to generate revenue by manufacturing the products mentioned in the agreement at a price to be determined mutually.
Aimtron Electronics is a company that designs and manufactures electronic systems (ESDM) for various industries. They specialize in high-precision products and offer a complete service, from designing circuit boards to assembling finished systems. Aimtron has a presence in both domestic and international markets and operates manufacturing facilities in Gujarat and Karnataka, India. As of December 2023, they employ around 132 people.
On a full-year basis, the company's net profit jumped 13.3% to Rs 13.60 crore on a 10.4% rise in revenue to Rs 92.98 crore in FY24 over FY23.
Shares of Aimtron Electronics fell 2% to Rs 588.45 on the NSE.
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