Multibagger IT Company Bagged Order Worth Rs 70,00,00,000; Heavy Buying, Hits Upper Circuit, Stock Gains Over 140 per cent in Just 6 Months
The shares of the company have delivered a return of around 143 per cent to its shareholders in just 1 year.
The Small-Cap IT firm, specializing in various IT services such as web application development, mobile application development, AI & ML development, ChatBot development, and product prototyping, has been awarded a work order by Satra Services and Solutions Private Limited. This project involves the computerization of Centrally Sponsored Primary Agricultural Co-operative Credit Societies (CSPCP) in the state of Karnataka, with the IT company serving as a subcontractor.
The contract, valued at Rs 70,00,00,000 inclusive of all applicable taxes, pertains to the delivery location in Karnataka. It is scheduled to commence on June 11, 2024. However, the contract end date is not provided. Payment terms dictate that payments will be processed according to the terms agreed upon in the work order. The order or contract is expected to be executed within a one-year timeframe.
Share Performance:
On Friday, the share of Sahana Systems Limited closed at around Rs 1,443 per share, with a market capitalization of Rs 1,154 crore. The stock has delivered a multibagger return of around 143 per cent in just 6 months only. Furthermore, the company’s stock hit the upper circuit on Friday.
Financial performance:
According to the Quarterly Results, in Q4 FY24, the company reported a revenue of Rs 32 crore compared to Rs 17 crore and a net profit of Rs 11 crore compared to Rs 4 crore. In FY24, the company reported a revenue of Rs 54 crore compared to Rs 24 crore, and a net profit of Rs 15 crore, compared to a profit of Rs 6 crore in the previous year.
Regarding the shareholding pattern, the promoters own 62.88 per cent of the company, while DIIs hold 0.60 per cent. Public or retail investors hold the remaining 36.52 per cent.
Investors must keep this small-Cap multibagger stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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