BSECompany Update6 Aug 2026 · 6 Aug 2026, 03:24 pm
Receipt of Purchase Order: Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015
CWD Ltd · 543378
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CWD Ltd has received a purchase order worth ₹87.53 crores from India Post Payments Bank to supply 5,29,500 payment soundboxes alongside integration with a proprietary digital payment platform.
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CWD Ltd - 543378 - Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
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August 6, 2026
BSE Limited
P.J Towers, Dalal Street, Fort, Mumbai - 400 001
Scrip Code: 543378
Dear Sir,
Sub: Receipt of Purchase Order: Intimation under Regulation 30 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015
In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we
are pleased to inform you that CWD Limited has received a purchase order valued at Rs. 87.53 Crores (inclusive
of tax).
Further the details as required under the Listing Regulations read with master circular No. SEBI Master Circular
No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026 as amended, is enclosed as Annexure-
Kindly take the above information on record and acknowledge the receipt.
You are requested to disseminate the above information on your respective websites.
Thanking you,
Yours Faithfully,
For CWD Limited
Tejas Kothari
Joint Managing Director & CFO
DIN: 01308288
Annexure-A
Read with SEBI circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026 .
Particulars Description
Name / Nature of the entity awarding the order(s) /
1 India Post Payments Bank
contract(s)
Supply of 5,29,500 payment soundboxes alongside
integration with a proprietary digital payment
platform. The hardware rollout is targeted for ~6
months, supported by a 3-year Service and
Significant terms and conditions of order(s) /
2 Maintenance (S&M) operational lifecycle.
contract(s) awarded in brief
Executed under standard GeM tender conditions
including performance security and warranty
obligations.
Whether order(s) / contract(s) have been awarded
3 Domestic entity
by domestic / international entity
Supply of payment soundbox devices and digital
4 Nature of order(s) / contract(s) platform integration, inclusive of software and
maintenance services
5 Whether Domestic or International Domestic order
Hardware deployment targeted over 6 months,
Time period by which the order(s) / contract(s) is
6 accompanied by a 3-year Service & Maintenance
to be executed
(S&M) agreement.
Broad consideration or size of the order(s) /
7 ~₹87.53 crores (inclusive of tax).
contract(s)
Whether the promoter / promoter group / group
companies have any interest in the entity that
8 No
awarded the order(s) / contract(s)? If yes, nature of
interest and details thereof
Whether the order(s) / contract(s) would fall within
9 related party transactions? If yes, whether the same No
is done at an "arm’s length’
CWD Limited secured an Approx ₹88 crore order from India Post Payments Bank to design, manufacture, and
integrate IoT payment soundboxes, creating an opportunity for up to 33 lakh devices over three years*.
CWD Limited is pleased to announce the receipt of a comprehensive purchase order worth approx ₹88 crores 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 large-
scale supply to a Government of India department, supporting the Government’s objectives on financial inclusion and a
less-cash economy.
Key Highlights:
• Accelerated Hardware Rollout – CWD will manufacture and sell approx ~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.
• Embedded Scale-Up Potential – 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 ~33 lakh
soundboxes over the next three years, representing a ~6x expansion opportunity from the initial order.
Because India Post's footprint extends deep into rural and semi-urban India, the deployment will allow post
offices and doorstep banking agents handling high transaction volumes to accept and instantly confirm digital
payments through multilingual audio alerts, without depending on a mobile screen. This removes a significant
point of friction and brings the same payment confidence that India’s merchant ecosystem has come to rely
• Recurring Revenue Visibility – 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.
Every unit shipped will be designed, developed, and manufactured in India, with the intellectual property retained
domestically. This is what ‘Make in India’ looks like in practice, domestic capability meeting national infrastructure,
with better economics, tighter quality control, and a supply chain the customer can depend on.
Management Commentary:
"This mandate from India Post Payments Bank is a powerful endorsement of our in-
house R&D and mass manufacturing capabilities, we take immense pride in
partnering with IPPB, an institution that leverages a distribution network of over
1.36 lakh access points that reach parts of the country that few institutions do. We
are not simply supplying devices; we are deploying a comprehensive, scalable
fintech ecosystem that ensures secure, real-time payment confirmations for millions
of merchants. Securing a 3-year operational lifecycle for the platform allows us to
rapidly scale our footprint while locking in critical, long-term merchant engagement.
This aligns perfectly with our strategic focus on building high-margin, recurring
revenue streams within the broader fintech ecosystem. Winning a tender of this scale
against a competitive field is a validation of the engineering depth we have built over the years, and of our ability to
manufacture at volume without compromising on quality."
-Siddhartha Xavier
Joint MD, Co-Founder
Disclaimer:
*Certain statements in this document may be forward looking statements. Such forward-looking statements are subject
to certain risks and uncertainties like government actions, local political or economic developments, technological risks,
and many other factors that could cause our actual results to differ materially from those contemplated by the relevant
forward-looking statements. CWD Limited will not be in any way responsible for any action taken based on such
statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events
or circumstance.