Low PE & high ROE stock under Rs 150: This Fintech & Ed-tech company is likely to raise funds of Rs 50 crore via QIP, rights issue, preferential issue, etc – details inside!
The stock is up by 47.2 per cent from its 52-week low of Rs 105 per share.
Quicktouch Technologies Limited informed that a meeting of the Board of Directors of the company is scheduled to be held on Tuesday, August 06, 2024, at 5.00 P.M at the Registered Office of the company, Inter alia to consider and approve the following matters(s):
1) To consider and approve unaudited results (Standalone & Consolidated) of the Company for the quarter ended June 30, 2024, along with Limited Review Report.
2) To seek shareholder approval to raise up to Rs 50 crore through various equity and debt instruments, including but not limited to equity shares, convertible securities, and non-convertible debentures with warrants, via private placement, qualified institutional placement, public issue, preferential issue, rights issue, or any other permissible method, subject to applicable laws and regulatory approvals.
3) To consider and discuss any other matter with the permission of the Chairman
On Friday, shares of Quicktouch Technologies Limited gained 3.55 per cent to Rs 154..60 per share from its previous closing of Rs 149.30. The stock’s 52-week high is Rs 274 and its 52-week low is Rs 105.
Earlier, the company announced a strategic 10-year partnership with CSC Academy to develop and implement a cutting-edge School Resource Management System. This collaboration signifies a major milestone for the company, solidifying its position as a leader in educational technology solutions and demonstrating its commitment to fostering strong partnerships while delivering innovative systems that streamline administration, enhance communication, and optimize resource allocation for CSC Academy's network of schools.
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About the Company
Incorporated in 2013, Quicktouch Technologies Limited is an information technology company. The company is in the business of software IT solutions and consulting services, IT product/software development & software commercial training and web designing.
The company has a market cap of Rs 85 crore and reported positive numbers in its Quarterly Results (Q4FY24) and annual results (FY24). According to quarterly results, the company reported net sales of Rs 34.05 crore in Q4FY24 compared to net sales of Rs 42.74 crore in Q4FY23. The net profit increased by 139.2 per cent to Rs 1.15 crore in Q4FY24 compared to Rs 0.48 crore in Q4FY23. In its annual results, the net sales increased by 39 per cent to Rs 122.16 crore and net profit increased by 5.3 per cent to Rs 6.73 crore in FY24 compared to FY23.
The shares of the company have a PE of 10x, an ROE of 74.5 per cent and an ROCE of 86.8 per cent. The stock is up by 47.2 per cent from its 52-week low of Rs 105 per share.
Disclaimer: The article is for informational purposes only and not investment advice.
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