ICSA, a Hyderabad-based solution provider has signed a deal with ECE Industries Ltd to buy its machineries and equipment along with available drawings, designs and data. Under the arrangement, ICSA India will manufacture the energy meters on its own capacity. Furthermore, the deal also permitted ICSA to use the brand name of ECE for a period of six months. Apart from this, both the parties have also signed a 5-year non-compete agreement, under which ECE would not venture into electronic energy meter for a period of five years from the date of this agreement. ICSA Limited designs and develops embedded solutions, infrastructure solutions, and software applications for the power, gas, and water sectors in India.

Its order book at the beginning of the fiscal stood at Rs 900 crore and out of the order pipeline of Rs 1,350 crore, it has bagged order worth Rs 225 crore taking its order book to over Rs 1,000 crore. The current order book stands at 1.68 times FY08 revenue.

India Capital Market has reiterated 'buy' rating on ICSA, while maintaining their target price at Rs 588. The stock ended the day on Friday at Rs 376 on BSE.