Stock under Rs 50: This micro-cap company receives order worth Rs 4.29 crore for Primary Agricultural Credit Society!

The net sales increased by 90 per cent to Rs 6.72 crore and the net profit skyrocketed by 130.55 per cent to Rs 0.11 crore in Q1FY24 compared to Q1FY23.

Atishay Ltd informed the exchange (BSE Scrip Code: 538713) that the company has securing of the tender for the PACS Digitalisation project in Madhya Pradesh, we have received a work order for the computerisation of 412 PACS (Primary Agricultural Credit Society) for the total value of Rs 4.29 crore. Additionally, the company informed that this is one of the multiple continuous work orders which we shall receive against the provided reference number (ATL/LH/23-24/390).

On Friday, at the closing bell, shares of Atishay Ltd plunged 0.97 per cent to Rs 32.68 per share with an intraday high of Rs 37.50 and an intraday low of Rs 32.06. The stock has a 52-week high of Rs 46 and a 52-week low of Rs 25.

Incorporated in 1989, Atishay Ltd is an IT consultancy and Services company that offers services of data management, software development, E-Governance, retail fintech, and the implementation of turnkey IT solutions. 

Talking about the financials, Atishay has a market cap of Rs 35.89 crore. The company reported excellent numbers in both Quarterly Results and annual results. The net sales increased by 90 per cent to Rs 6.72 crore and the net profit skyrocketed by 130.55 per cent to Rs 0.11 crore in Q1FY24 compared to Q1FY23. The net sales increased by 8.66 per cent to Rs 21.46 crore and the net profit skyrocketed by 490 per cent to Rs 0.65 crore in FY23 compared to FY22.

As of June 2023, the company is almost debt-free, with the promoters owning 74.99 per cent of the shares and the general public owning the remaining 25.01 per cent. Investors should keep a close eye on this micro-cap stock.

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