AI, Machine Learning and Datacenter Facility Provider Bags Order Worth Rs 6.90 Crore; Company Reduces Debt by 80 per cent!
The company’s shares have delivered an impressive return of over 110 per cent in just 6 months only.
Esconet Technologies Limited has secured a significant order from National Informatics Centre Services Inc. (NICSI) under the Ministry of Electronics and Information Technology (MeitY). The total contract value, including GST, amounts to Rs 6.90 crore. The scope of work for Esconet Technologies will follow the terms and conditions outlined in the purchase orders that were received.
Esconet Technologies Limited specializes in providing high-end supercomputing solutions and data center facilities, offering a comprehensive range of services including storage servers, network security, virtualization, and data protection. The company's portfolio includes servers and graphics workstations, data storage solutions, virtualization software, backup and disaster recovery solutions, data center and access networks, advanced software-defined networks, network security tools, email communication systems, high-availability databases, log management and analytics software.
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Esconet Technologies Limited shares are currently trading at around Rs 397 per share. The company’s current market capitalization stands at Rs 490.69 crore. The stock has delivered a return of over 110 per cent in just 6 months.
The company doesn’t announce Quarterly Results and as per the half-yearly results, in March 2024, Esconet Technologies Limited recorded a revenue of Rs 66 crore. The operating profit for the period stood at Rs 4 crore. The net profit stood at Rs 2 crore. Looking at the annual performance, the company generated a revenue of Rs 137 crore in FY24, compared to Rs 95 crore in FY23. The operating profit for FY24 was Rs 10 crore with a net profit of Rs 5 crore.
According to the shareholding pattern, promoters own 64.94 per cent, and public investors own 34.65 per cent. FIIs and DIIs own 0.05 per cent and 0.08 per cent stakes in the company.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.