AGS Transact Technologies Ltd Wins Order For 8,000+ ATMs/ CRMs In Q3FY23

AGS Transact Technologies Limited (BSE: 543451 & NSE: AGSTRA), one of the largest integrated omni-channel payment solutions providers in India in terms of providing digital and cash-based solutions to banks and corporate clients, announced that it has won orders for 8,000+ ATMs/ CRMs under Managed Services portfolio for two leading banks. These new orders will start coming on stream from the next quarter onwards.

Commenting on the performance Mr. Stanley Johnson, Executive Director, AGS Transact Technologies Limited said, "ATM/CRM Outsourcing is increasingly becoming a preferred choice for banks in the country. We (AGSTTL) are one of the leading ATM Outsourcing players in India and the addition of these 8000+ ATMs/CRMs will further strengthen our leadership position in the industry. These are managed services contracts which include ATM management, maintenance, cash management, etc. on a pan India basis.

Further, these are existing ATMs/CRMs that we will be taking over, hence, this is an asset light expansion of our ATM/CRM base. As a result, it will bolster our performance in terms of topline as well as bottomline. It will also contribute to the overall revenue stream of our cash management subsidiary Securevalue India."

As of December 31, 2022, AGS Transact Technologies Limited has installed, managed, or maintained 73,719 ATMs/CRMs across 2200 cities and towns in India.

Shares of AGS Transact Technologies Ltd was last trading in BSE at Rs. 59.60 as compared to the previous close of Rs. 60.50. The total number of shares traded during the day was 28922 in over 1191 trades.

The stock hit an intraday high of Rs. 61.80 and intraday low of 59.30. The net turnover during the day was Rs. 1756176.00.

Source : Equity Bulls

Keywords

AGSTransactTechnologies OrderWin ATMs CRMs ManagedServices