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MIC Electronics achieves milestone with PAPIS product line approval
Industry News- Jan 15,25
The annual addressable market for PAPIS is estimated at approximately Rs 10 billion, with MIC aiming to generate Rs 500-750 million in revenue in the upcoming fiscal year.
MIC Electronics Limited, a global leader in the design, development, and manufacturing of LED displays, LED lighting, and power electronics solutions, is thrilled to announce a significant development in its GPS-based Public Address & Passenger Information System (PAPIS) product line. After eight months of rigorous research and development, the company has successfully achieved Capacity cum Capability Assessment (CCA) approval, a crucial milestone in delivering cutting-edge solutions for railway passenger information systems.
PAPIS is designed to enhance passenger communication and experience and includes advanced LED destination boards, meeting stringent RDSO (Research Designs and Standards Organization) specifications. The final clearance from Rail Coach Factory (RCF), Kapurthala, is in progress and targeted for completion by February 2025. With this approval, MIC Electronics will become an approved vendor for PAPIS, unlocking full-scale market opportunities to participate in the tenders to serve all zones of Indian Railways.
The annual addressable market for PAPIS is estimated at approximately Rs 10 billion, with MIC aiming to generate Rs 500-750 million in revenue in the upcoming fiscal year. The company plans to commence market operations by March-April 2025, leveraging its pioneering technology to secure a significant share of this burgeoning market.
Commenting on the milestone, Rakshit Mathur, CEO, MIC Electronics (MICEL), said, “We are immensely proud of the progress made with PAPIS, which reflects our commitment to innovation and excellence in passenger information systems. The approval is a testament to the hard work of our R&D team and positions MIC as a key player in this critical market segment. We are confident that PAPIS will not only drive revenue growth but also set new benchmarks in the railway sector.”
The PAPIS product line underscores MIC Electronics’ dedication to enhancing passenger experiences and contributing to the modernisation of India’s railway infrastructure.
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MIC Electronics achieves milestone with PAPIS product line approval
The annual addressable market for PAPIS is estimated at approximately Rs 10 billion, with MIC aiming to generate Rs 500-750 million in revenue in the upcoming fiscal year.
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