Debt-free penny stock under Rs 20: Company bags new order worth Rs 2,26,00,000 from National Skill Development Corporation, 2:1 bonus share issued in February 2024!
The company's shares have delivered a return of around 50 per cent to their shareholders in the past 1 year.
Incorporated in 2012, DRC Systems India is an IT services and consultancy company. The company has announced the significant order received by the company.
Order Details:
Information Technology and Software Consultancy Services provider, DRC Systems India Limited announced that it has been awarded a prestigious work order worth Rs 2.26 crore by the National Skill Development Corporation (NSDC) for the development, enhancement, and maintenance of the Learning Management Support (LMS) for the Skill India Digital platform. Under the terms of the work order, DRC Systems will enhance and maintain the LMS of the Skill India Digital platform for the Ministry of Skill Development and Entrepreneurship. This advanced platform aims to unify all skilling initiatives and facilitate nationwide skill development. The project will be carried out by DRC Systems' team of highly skilled technical professionals, who are proficient in Python, Java, Open edX, and other technologies.
Share Performance:
On Thursday, the company's stock closed at around Rs 19.85 per share, with a market capitalisation of Rs 262.94 crore. Additionally, the stock has delivered a return of around 50 per cent in the past 1 year and the stock has great potential to deliver multibagger returns in the future.
Financial performance
According to the Quarterly Results, in Q4 FY24, the company reported a revenue of Rs 17.12 crore, representing a growth of 153 per cent, and a net profit of Rs 6.77 crore. In FY24, the company reported a revenue of Rs 48 crore and a net profit of Rs 12 crore, compared to a net profit of Rs 7 crore in the previous year.
According to the shareholding pattern of the company, promoters hold 22.44 per cent of the company FIIs hold 0.67 per cent and public investors hold 76.88 per cent as per the recent update.
Investors must keep this micro-cap stock on their radar. It has great potential to deliver multibagger returns in the future.
Disclaimer: The article is for informational purposes only and not investment advice.
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