Ceinsys Tech Reports Revisions to Purchase Orders from T Second Inc, USA
Ceinsys Tech Limited has provided an update regarding its existing Purchase Orders (PO) received from T Second Inc, USA. The terms of certain POs have been revised by T Second Inc, USA, primarily involving the bifurcation of a specific order due to material requirements in India.The company reported that out of the total value of $3,160,846.00 across the orders, significant changes pertain to one contract. The overall details concerning the various Purchase Orders are detailed below:
| Details Disclosed (Original) | Revised Details |
|---|---|
| Client Name | T Second Inc, USA / Technology Associates Inc |
| Amount of PO (INR) | Rs. 30,06,28,063.06 |
| Amount of PO (US $) | $ 3,160,846.00 |
| Scope | NVMEdrives supply; AI-powered building/road extraction and encroachment and asset monitoring; Enterprise Geospatial Imagery Repository and AI Feature Extraction |
Regarding the original Order No. 1 from T Second Inc, USA for $2,912,946.00 (equivalent to Rs. 27,70,50,294.06), T Second Inc, USA has divided this PO into separate domestic and international orders due to operational requirements regarding material sourcing in India.
The original PO breakdown, including subsequent revisions, is summarized as follows:
| Client Name | Amount of Purchase Order (INR) | Amount of Purchase Order ($) | Details of Purchase Order | Revised Status |
|---|---|---|---|---|
| Ceinsys Tech Limited | Rs. 27,70,50,294.06 | $ 2,912,946.00 | NVMEdrives supply | Bifurcated into domestic and international POs |
| Ceinsys Tech Limited | Rs. 1,54,93,419.00 | $ 162,900.00 | AI-powered building/road extraction and encroachment and asset monitoring, processed directly on BRYCK AI platform. | No Change since last disclosure |
| Technology Associates Inc | Rs. 80,84,350.00 | $ 85,000.00 | For Enterprise Geospatial Imagery Repository and AI Feature Extraction. | No Change since last disclosure |
Domestic and International PO Details
The bifurcation of the original PO has resulted in two distinct contracts, managed by T Second India Private limited (a Wholly Owned Subsidiary) and T Second Inc, USA.| Particulars | Domestic Purchase Order | International Purchase Order |
|---|---|---|
| Name of Customer | T Second India Private limited, Wholly Owned Subsidiary of T Second Inc, USA | T Second Inc, USA |
| Amount of PO ($) | $ 23,94,850.08 | $ 5,18,095.92 |
| Equivalent INR | Rs. 22,77,74,191/- (Calculated at US $1= Rs.95.11) | Rs. 4,92,76,103/- (Calculated at US $1= Rs.95.11) |
| Scope | NVME drives supply | NVME drives supply |
All material terms and conditions, specifications, aggregate value, and total quantity of the original Purchase Orders remain unchanged, except for the aforementioned division into domestic and international segments.
CEINSYS Stock Price Movement
On Thursday, shares of Ceinsys Tech Limited shed value, closing at ₹913 after declining 0.38%. The stock traded within a daily range of ₹911 to ₹939, with 26,185 shares transacted during the session.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.
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