Ceinsys Tech soars after securing Rs 6-crore LoI from Nashik Municipal Corporation

The LoI is for appointment of project management consultancy service for improvement of sewage management system in Nashik City to prevent pollution in river Godavari based on PPP-HAM Model.

The contract, valued at Rs 5,80,92,000, is valid for a period of one year.

The promoter, promoter group, or group companies have no interest in the entity to whom the contract has been awarded.

The transaction does not fall within the ambit of related party transactions; hence, the question of being conducted at arm?s length does not arise.

Ceinsys Tech is primarily dealing in providing enterprise geospatial & engineering services and sale of software and electricity.

The company?s consolidated net profit jumped 88.4% to Rs 21.87 crore on 81.9% increase in revenue from operations to Rs 142.39 crore in Q4 FY25 over Q4 FY24.

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