Under Rs 30: This micro-cap company bagged order worth Rs 3,50,00,000 on Saturday; Stock hits upper circuit today with heavy volume!

The company's shares have delivered an impressive return of around 100 per cent to their shareholders in the past six months only.

Incorporated in 1981, 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 the significant order received by the company.

Order Details:

The company has announced that 75F Smart Innovations India Private Limited has awarded a contract to the company to carry out installation work and services related to IoT-Based Systems with Energy Monitoring. This contract aims to control and optimize existing HVAC equipment and Systems. The contract, valued at approximately Rs 3,50,00,000 (Approximately Three Crores and Fifty Lakhs Indian Rupees), is to be executed immediately.

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On Tuesday, the company's stock is at around Rs 27.28 per share, with a market capitalisation of around Rs 12 crore. Additionally, the stock has delivered an impressive return of around 95 per cent in the past six months only and has the potential to deliver a multibagger return. According to the Quarterly Results, in Q4 FY24, the company's revenue surged by 3.32 per cent, reaching Rs 0.96 crore, while it reported a net loss of Rs 0.10 crore.

According to 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.