Penny stock under Rs 30: Company bags new order worth Rs 16,63,200 from One Center, complete details inside!

Penny stock under Rs 30: Company bags new order worth Rs 16,63,200 from One Center, complete details inside!

Rakesh Deshmukh

The stock has delivered an impressive return of around 83 per cent in the past six months only.

Panabyte Technologies Limited is engaged in multi-product distribution, including consumer electronics, electrical goods, IT hardware and peripherals, and sanitary products. The company has announced a significant order received by the company.

As per the press release, the company has received a work order from One Center Private Limited to execute the SITC (Supply, Testing, Commissioning) of a Boom Barrier ANPR (Automatic Number Plate Recognition) System and Flap Installation, as well as a Barrier Access Control System at One International Center - Tower Four, located on Elphinstone Road, Mumbai. The total value of the order/contract is Rs. 16,63,199.38 (Sixteen lakhs, sixty-three thousand, one hundred and ninety-nine rupees and thirty-eight paise only), inclusive of tax. The order/contract requires immediate execution.

On Wednesday, the company's stock closed at around Rs 26.50 per share, with a market capitalisation of around Rs 11.63 crore. Additionally, the stock has delivered an impressive return of around 83 per cent in the past six months only.

According to the Quarterly Results, in Q4 FY24, the company's revenue surged by 68 per cent, reaching Rs 1.34 crore, while it reported a net profit of Rs 0.09 crore. As per the shareholding pattern of the company, promoters hold 17.03 per cent of the company while public investors or retail investors hold 82.98 per cent as per the recent update.

Business Overview

The company designs ICT & IoT devices and is involved in manufacturing, distribution, and services. It offers solutions in Smart Computing Devices & Virtualization, Smart & AI-based Digital Classrooms, Smart & Connected Cars, Smart Asset Management, Retail IoT, Healthy Living Solutions, AV and Pen Display Solutions, Smart Water, and other contract manufacturing OEM/ODM and electronic manufacturing opportunities. The company is also engaged in multi-product distribution such as Telecom Products, IT Products, Accessories, LED Lighting Products, Batteries, Power Banks, Audio Products, Torches/Flashlights, Electrical Products, Phones, facilitating Project-based Services, and AMC of Large corporations, CCTV Surveillance.

Investors must keep this micro-cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.

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