Acewin Agriteck Ltd Company Summary

Acewin Agriteck Ltd Summary

Acewin Agriteck Ltd (formerly known as OFS Technologies Ltd) was initially a hardcore software development and information technology outsourcing company, but as a maturing organization the company after carefully considering a multitude of business streams with potential growth opportunities in the near future and long term, the company through a self-analysis and an educated assessment of the risks involved with the software business have resulted in the diversifying the interest and investment in the food industry like Aqua culture business trading in the third quarter of 2018. At present the company derives revenue from Aquaculture Trading businessThis being the second year of operation in Hatchery trading, the Company will consistently focus on providing good quality with full traceability Prawn seeds to the Customers by using Modern technologies and innovative ideas in Prawn Hatchery operations. The Company proposed to take out an existing modern hatchery to operate on lease basis under Asset Light Model in the current financial year 2020-21. In order to augment production with minimal capital cost, Hatchery segment is expected to generate Rs.30 Crores additional revenue resulting in additional net profit of Rs.6 Crore. The existing customer base in trading will be retained and continued after the acquisition of existing Hatchery Unit.The Company has curtailed IT segments on account of the prevailing global economic crisis, IT services will be used for R&D and in-house development of software for Aqua Culture activity. Other revenue flow of the company will be from outsourcing of in-house talents and renting out of work stations that were used for software development activities.