CWD has received purchase order worth Rs 87.53 crore (inclusive of tax) from India Post Payments Bank. The mandate covers the end-to-end design, manufacturing and deployment of IoT-enabled payment soundboxes, along with the integration of CWD's proprietary digital payment platform, and provides a potential deployment opportunity of up to 33 lakh devices over the next three years. This award marks CWD’s entry into largescale supply to a Government of India department, supporting the Government’s objectives on financial inclusion and a less-cash economy.
CWD will manufacture and sell approximately 5.3 lakh voice-enabled payment soundboxes across India Post Payments Bank's network over the next six months. Deliveries will be made in phases over the contract period, in line with India Post’s rollout schedule. The initial deployment establishes a platform for future expansion. Based on the customer's long-term deployment roadmap, the engagement has the potential to scale to around 33 lakh soundboxes over the next three years, representing a around 6x expansion opportunity from the initial order.
The agreement includes a comprehensive three-year Service & Maintenance (S&M) contract, providing recurring revenue visibility through ongoing software, platform, and maintenance services, along with associated warranty and after-sales support obligations. The physical production will be executed at CWD’s newly expanded 55,000 sq. ft. state-of-the-art manufacturing facility in Mysore, which has recently tripled its daily soundbox production capacity.
CWD operates mainly through the segments of Consumer Electronics and Design and Development of Technology Solutions for various Enterprises and Businesses.
