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AXISCADES Technologies Limited has announced that its subsidiary, Mistral Solutions Private Limited, has secured significant pilot contracts with two of the world’s largest hyperscalers.
While the initial value is estimated at approximately $1 million USD, the company highlights that these engagements offer the potential for annuity revenue and exponential growth.
The international development contracts involve two key projects. For one of the hyperscaler clients, Mistral Solutions will develop production line testing equipment for their global contract manufacturers.
For the second client, the company will create development test apparatus for audio products. The design and development phase for these contracts is expected to take between 6 to 18 months.
AXISCADES has pledged to build top-notch infrastructure in Bangalore to support these new activities. This includes building a new Acoustic Lab and a 3D printed PCB prototype facility.
In an effort to better serve its global clientele, the business is also setting up a front-end engineering team in the US.
The contracts were awarded by international entities, and AXISCADES has confirmed that these do not fall under related party transactions, nor do the promoter or promoter group have any interest in the awarding entities.
AXISCADES Compliance :
This information was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Both BSE Limited and the National Stock Exchange of India received the disclosure. Sonal Dudani, AXISCADES Technologies Limited’s Company Secretary and Compliance Officer, signed the agreement.
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