Rs 1,210 Crore Order Book: Multibagger IT Software Stock Hit Upper Circuit & 52-Week High After Bagging Rs 330 Crore Order From Government of Maharashtra
The company has a market cap of over Rs 2,800 crore with multibagger returns of 350 per cent in just 1 year and a whopping 2,100 per cent in 5 years.
On Monday, shares of Ceinsys Tech Limited hit a 10 per cent upper circuit to Rs 1,648.80 per share from its previous closing of Rs 1,498.50. The stock also made a new 52-week high of Rs 1,648.80 and its 52-week low is Rs 333. The shares of the company saw a spurt in volume by more than 1.50 times on BSE.
Ceinsys Tech Limited has received a work allocation letter from the State Water and Sanitation Mission (SWSM) to initiate IoT deployment projects in the Nashik, Amaravati, and Chatrapati Sambhaji Nagar regions of Maharashtra. This project, valued at Rs 330 crore, is part of Phase II of the Jal Jeevan Mission and involves designing, implementing, and maintaining a centralized IoT platform across 18 districts. This development follows the earlier receipt of a Letter of Award from SWSM for a similar project worth Rs 331.61 crore in October 2024.
Ceinsys Tech Ltd is a 1998-founded enterprise specializing in geospatial and engineering services, software, and energy solutions. As an ISO and CMMI-certified company, it's part of the Meghe Group. Its core competencies include designing, managing and analysing geographic data, with a focus on energy systems, water management, product design and robotics. Ceinsys offers a range of services encompassing geospatial solutions like risk analytics, smart city planning and disaster management; as well as mobility solutions spanning from concept development to manufacturing engineering and electric vehicle technology.
Ceinsys Tech Ltd.'s wholly owned subsidiary, Allygram Technologies P Ltd, has made substantial investments in H1FY25 to drive both organic and inorganic growth. The subsidiary expended Rs 6.3 crore on business development initiatives. A significant milestone was the acquisition of a US-based geospatial company with telecom sector exposure in July 2024. Additionally, Allygram has commenced investments in data centre capabilities.
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According to the Quarterly Results, the net sales increased by 71 per cent to Rs 16.8 crore and net profit increased by 149 per cent to Rs 11.7 crore in Q2FY25 compared to Q2FY24. In H1FY25, net sales increased by 46 per cent to Rs 16.39 crore and net profit increased by 82 per cent to Rs 23.6 crore compared to H1FY24.
The order book of the company as of September 30, 2024, stands at Rs 1,210 crore. The company has a market cap of over Rs 2,800 crore with multibagger returns of 350 per cent in just 1 year and a whopping 2,100 per cent in 5 years. Investors should keep an eye on this IT-software company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.