Ceinsys Tech Reports Reduction in State Water and Sanitation Mission Orders, Maintains Healthy Order Book
Ceinsys Tech Limited has received an update from the State Water and Sanitation Mission (SWSM), Government of Maharashtra, regarding work orders for its IoT deployment projects. SWSM informed the company that a portion of the pending orders have been cancelled due to the exhaustion of the sanctioned amount for IoT implementation under the allocated schemes in the MJP MVS Schemes.The project involves the appointment of System Integrators (SI's) for IoT Deployment, including Design, Implementation, and Maintenance with a Centralized IoT Platform for Jal Jeevan Mission Projects in the State of Maharashtra.
The cancellation relates to the allocation for 617 ZP schemes. Consequently, there is an overall reduction of Rs. 112.42 Crores in the value of the pending orders.
Despite this reduction, Ceinsys Tech reported that its pending order book remains at a healthy Rs. 865 Crores, and the reduction has no impact on the revenue already booked.
The details of the projects, the amendment, and the associated financial impacts are summarized below:
| Particulars | Client | Nature of Work | Original Order Value | Project Status & Change |
|---|---|---|---|---|
| Order 1 | SWSM, WSSD, Government of Maharashtra | IoT Deployment for Jal Jeevan Mission | Rs. 248.39 Crores | Cancelled due to exhausted sanctioned amount for implementation in 617 ZP schemes. |
| Order 2 | SWSM, WSSD, Government of Maharashtra | IoT Deployment for Jal Jeevan Mission | Rs. 331.61 Crores | Status adjusted following reduction. |
Financial Summary of Order Changes
The original contracts were awarded on October 22, 2023, and October 9, 2024.
The key financial outcomes regarding the pending orders are:
- Total Reduction in Pending Orders: Rs. 112.42 Crores.
- Remaining Pending Order Book: Rs. 865 Crores.
CEINSYS Stock Price Movement
On Friday, Ceinsys Tech Limited shares edged higher to close at ₹765.00, finishing the session with a 0.53% gain. Trading activity saw a volume of 23,507 for the equity during the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.