330 per cent returns: This multibagger small-cap stock receives order worth Rs 68,09,12,000; scrip surged over 3 per cent

The stock gave multibagger returns of 165 per cent in just 1 year and over 330 per cent returns in 3 years.

Newgen Software Technologies Ltd informed that the company has received a purchase order worth Rs 68,09,12,000. The order includes the development, implementation, management & maintenance of the digital business platform and will be executed in 5 years.

Earlier, the company received purchase order for the implementation of end-to-end trade finance including a customer web portal & supply chain finance solution. The aggregate value of the aforesaid purchase order is Rs 43.64 crore plus applicable taxes. The order is valid for 5 years.

According to the Quarterly Results, the net sales increased by 33.94 per cent to Rs 251.67 crore and net profit increased by 57.24 per cent to Rs 30.15 crore in Q1FY24 over Q1FY23. In FY23, the net sales increased by 25.04 per cent to Rs 973.98 crore and net profit increased by 7.34 per cent to Rs 176.27 crore compared to FY22. In the financial year, 2022-2023, the company gave an interim dividend of Rs 4.50 per share and a final dividend of Rs 5 per share for its equity shareholders for a face value of Rs 10 each.

Newgen Software Technologies is a global software Company and is engaged in the business of software product development including designing and delivering end-to-end software solutions covering the entire spectrum of software services from workflow automation to Document management to imaging.

On Monday, shares of Newgen Software Technologies surged 3.82 per cent to an intraday high of Rs 947 per share from its previous closing of Rs 913.35. At the closing bell, shares of the company were trading at Rs 931.35 per share, up 1.97 per cent with a spurt in volume by more than 2.87 times on BSE.

The stock gave multibagger returns of 165 per cent in just 1 year and over 330 per cent returns in 3 years. Investors should keep an eye on this Small-Cap IT stock under their watchlist.

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