Penny Stock Under Rs 10 in Focus as Subsidiary of Company Vortex Engineering Secures Major ATM Contract with UCO Bank Valued at Rs 12.81 Crore

Vortex Engineering Private Limited (Vortex), a key subsidiary of Vakrangee Limited, has announced a significant Service Level Agreement (SLA) with UCO Bank. This strategic contract solidifies Vortex Engineering's position as a premier provider of advanced ATM solutions in India.

Under the terms of the agreement, Vortex will be responsible for the end-to-end supply, installation, and maintenance of 300 new ATM machines. The comprehensive contract spans a period of seven years, with a total contract value of Rs 12.81 Crore. This collaboration underscores Vortex’s commitment to financial inclusion and enhancing last-mile banking accessibility across the nation. As a proud Swadeshi Company, Vortex is deeply committed to the domestic design, development, and manufacturing of world-class ATM infrastructure, aligning with the "Make-in-India" and "Atma Nirbhar Bharat" missions. This emphasis on indigenisation not only strengthens India’s digital financial ecosystem but also fosters local innovation, technological sovereignty, and employment generation.

Vortex Engineering’s capabilities are robust, with over 14,000 ATMs successfully deployed across diverse geographies. The company boasts an annual production capacity of 12,000 units and holds an impressive IP portfolio comprising 9 registered patents in ATM and cash dispenser technologies. Further enhancing its value proposition, Vortex has developed ‘PERFO’, a remote ATM monitoring platform that is both cross-platform and cross-vendor compatible. This next-generation software enables real-time oversight, predictive maintenance, and efficient fleet management, ensuring optimal performance across heterogeneous ATM networks. The significant engagement with UCO Bank, a leading public sector institution, highlights Vortex’s strategic role in building resilient and future-ready banking infrastructure, engineered for superior uptime and seamless customer experiences. The entity awarding the contract, UCO Bank, is a domestic entity, and the order is not a related party transaction, nor does the promoter/promoter group/group companies have any interest in UCO Bank.

The provided sources, specifically "th.pdf," detail the service level agreement between Vortex Engineering and UCO Bank, including the contract value of Rs 12.81 Crore. However, these sources do not contain information regarding Vakrangee Limited's or Vortex Engineering's latest share price, intraday performance, revenue, or net profit for the most recent financial quarter. To obtain this information, one would need to consult real-time financial market data providers or the company's official financial results filings, which are not included in the provided documents.

Vakrangee Limited, incorporated in 1990, has established itself as one of India's largest Last Mile Distribution Platforms, operating with both a physical and digital eco-system across a PAN-India presence. The company delivers real-time banking and financial services, ATM services, insurance, e-Governance, e-Commerce (including Healthcare services), and logistics services to unserved rural, semi-urban, and urban markets, thereby enabling financial, social, and digital inclusion for Indians. 

Disclaimer: The article is for informational purposes only and not investment advice.