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.