52-week high alert: This Multibagger Stock Surges with a Whopping 300 Per Cent Returns in a Span of 3 Years!

The stock has witnessed significant buying activity as it has given multibagger returns of more than 300 per cent in just 3 years

On Friday, shares of Newgen Software Technologies zoomed more than 6.8 per cent to trade on a new 52-week high of Rs 624.25 apiece on BSE. The scrip witnessed massive spurt in volume by more than 1.77 times.

In Q4FY23, the revenue from operations surged by 31.8 per cent from last year’s same quarter to Rs 305.1 crore. The BEITDA level witnessed a growth of 43 per cent from March 2022 quarter to Rs 96.4 crore. The net profit of the company zoomed by more than 36 per cent from corresponding quarter last year to Rs 78.6 crore. The Board of Directors of the software company has recommended a final dividend of Rs 5 per share for the financial year 2022-23.

In FY23, Newgen has set new benchmarks for itself on both product and financial parameters. The company achieved the significant milestone of surpassing Rs 1,000 crore of Total Income for the year. Additionally, Newgen has received recognition as a Leader in the Forrester Wave: Content Platforms Report.

Newgen's solutions are currently driving deeper market penetration and experiencing a consistent upward trend in average ticket sizes per customer. The company now boasts a customer base of 51 clients with annual billing exceeding Rs 5 crores.

Newgen is pleased to observe that enterprises are effectively optimizing their business operations, enhancing productivity, and fostering collaboration through the utilization of the NewgenONE platform. The company's Subscription revenues have demonstrated steady and robust growth, with a YoY increase of 31 per cent. Furthermore, Newgen has received significant order bookings, indicating a promising outlook for future revenues.

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Newgen Software Technologies is a global software Company and is engaged in the business of software product development including designing and delivering end-to-end software solutions covering the entire spectrum of software services from workflow automation to Document management to imaging.

The stock has witnessed significant buying activity as it has given multibagger returns of more than 300 per cent in just 3 years. Moreover, the stock has zoomed more than 82 per cent in the past 6 months. Keep a close eye on this trending multibagger stock.