Mumbai (Maharashtra) [India], November 12: Bartronics India Limited has been awarded a significant Purchase Order by Maharashtra Gramin Bank, appointing the company as the Empanelled Corporate Business Correspondent Service Provider. The engagement remains contingent upon the finalization of a Service Level Agreement and the provision of a Performance Bank Guarantee of ₹25,00,000, with the agreement expected to be executed within 30 days of PO acceptance and an initial term of three years that may be extended by the Bank. This partnership signals a pivotal step in Bartronics' strategic push into the banking sector, underscoring the company's commitment to delivering high-quality CBC services while ensuring alignment with industry standards and regulatory requirements. Details of the commission structure and additional terms are to be outlined during SLA execution.
In parallel, Bartronics has renewed its 15-year association with Bank of Maharashtra, securing empanelment as a Corporate Business Correspondent Vendor for a further five years. This renewal reinforces Bartronics' proven capabilities in promoting financial inclusion and expands its footprint as it continues to scale its operations across 1,800 villages. The company plans a significant expansion over the next 6–9 months to 3,000 banking touchpoints across Maharashtra, Madhya Pradesh, Chhattisgarh, and Karnataka by adding 1,200 new Customer Service Points. This growth initiative is poised to deepen financial access and service delivery in the regions, leveraging Bartronics' strengths in digital banking, agritech, automation, and identity management technologies.
Financially, Bartronics reported net sales of Rs 8.83 crore and a net profit of Rs 0.45 crore in the first quarter of fiscal year 2026, following a fiscal 2025 that recorded net sales of Rs 40.04 crore and a net profit of Rs 1.75 crore. The company also announced a shift in its corporate presence, moving its registered and corporate offices within Hyderabad to Trendz Atria House, marking a notable relocation to support its expanded operations and strategic initiatives. Bartronics, a leading brand in digital banking, financial inclusion, and identity management technologies, continues to build on its focus areas of agritech, automation, and intelligent systems, while expanding its global footprint and delivering sustainable impact through technology to a customer base exceeding one million.
Disclaimer: This press release is for informational purposes only and does not constitute financial advice.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor