Stock Report

Cerebra Integrated Technologies Limited started Refurbishment as a Service vertical

Posted On : 2023-05-29 21:17:11( TIMEZONE : IST )

Cerebra Integrated Technologies Limited started Refurbishment as a Service vertical

The Government of India has increased focus on circular economy as announced in the budget of 2022. Resonating the idea, the Government has come with new e waste rules November 02, 2022 which are implemented from April 01, 2023. In the new e waste rules, the emphasis is also on refurbishment of electronics. To promote the refurbishment of used electronics, the Government has allowed the refurbishers to generate EPR certificates which can be monetised.

Taking the cue from the Government on circular economy, Cerebra has started a new business vertical - Refurbishment as a Service. This concept of extending of the life of the asset is well received by the corporates which also helps them to manage their cash flows better.

We are glad that we have moved from the concept stage to delivery in this new vertical. A global conglomerate has approached us to refurbish their current IT assets which will be redeployed within their organisation. We are happy to inform that we have signed a long term contract to refurbish the assets of this global conglomerate and the project has gone live & reached the daily refurbishment target at one of the location.

This activity - Refurbishment as a Service for the corporates is unique model in India and globally and we are ecstatic to be part of this would be revolution as per our expectations. By extending the life of IT assets, the corporates not only benefit from improving their ESG ratings and also can manage their cash flows better by delaying the purchase of new assets. We are highly enthusiastic about Refurbishment as a Service business vertical as multiple large corporates are approaching us on the same concept of refurbishing their current IT assets to extend the life of the asset.

Shares of Cerebra Integrated Technologies Limited was last trading in BSE at Rs. 6.76 as compared to the previous close of Rs. 6.82. The total number of shares traded during the day was 30950 in over 160 trades.

The stock hit an intraday high of Rs. 7.02 and intraday low of 6.70. The net turnover during the day was Rs. 211672.00.

Source : Equity Bulls


CerebraIntegratedTechnologies INE345B01019 RefurbishmentasaService