Securevalue India Ltd completes deployment of 270 dedicated cash vans

AGS Transact Technologies Limited's (BSE: 543451 & NSE: AGSTRA) wholly-owned subsidiary Securevalue India Ltd. (SVIL), has completed the deployment of ~270 Dedicated Cash Vans (DCV) for Union Bank of India and Canara Bank. The total order value is ~INR 250 crore for a period of 5 years. The company will earn a fixed monthly revenue per Dedicated Cash Van. Further, these are running contracts where we will continue to get purchase orders for additional DCVs from these two banks.

SVIL's DCV service provides secured dedicated cash vans along with a dedicated team of trained personnels to banks and financial institutions for ensuring safe and seamless transport of Cash and other valuables.

Commenting on this, Shailesh Shetty, Managing Director, Securevalue India Limited said, "We are happy to announce the completion of DCV deployment of order value ~INR 250 crore for a period of 5 years for UBI and Canara Bank. With this deployment, we have completed about 90% of the DCVs in these contracts. As a prominent Cash Management player, we are constantly looking for new avenues for maximizing our profits. This order-win willsignificantly strengthen SVIL's growing DCV business. Additionally, while it will contribute to the SVIL's overall revenue stream, it will also strengthen the consolidated revenue stream of AGS Transact Technologies."

Securevalue India Ltd. is the second largest Cash management Company in India (Ken Research). As of September 30, 2023, SVIL provided cash management services to approx. 40,152 ATMs across the country and replenishes a daily average amount of approx. ₹22.04 billion. It operates in over 1,800 locations across the country through an expansive infrastructure of 2,300+ secured cash vans.

Shares of AGS Transact Technologies Ltd was last trading in BSE at Rs. 95.59 as compared to the previous close of Rs. 96.77. The total number of shares traded during the day was 793144 in over 5895 trades.

The stock hit an intraday high of Rs. 101.60 and intraday low of 94.73. The net turnover during the day was Rs. 77639687.00.

Source : Equity Bulls

Keywords

AGSTransactTechnologies SecurevalueIndia DedicatedCashVans Deployment