Turnaround story in this penny stock at Rs 18.57: This IT-company bags new order worth Rs 2.54 crore from Asianet Satellite Communications Ltd

The stock is up by 62 per cent from its 52-week low of Rs 11.49 per share and multibagger returns of over 200 per cent in 3 years.

On Thursday, shares of Adroit Infotech Ltd plunged 3.03 per cent to Rs 18.57 per share from its previous closing of Rs 19.15 with an intraday high of Rs 19.93 and an intraday low of Rs 18.21. The stock’s 52-week high is Rs 23.29 and its 52-week low is Rs 11.49.

Adroit Infotech Limited, based in Hyderabad, India, is a leading provider of SAP consulting services with nearly two decades of experience in the field. The company specializes in helping organizations optimize their internal processes through innovative SAP solutions. Adroit offers a wide range of services including process analysis, implementation, rollouts, ongoing support, maintenance, and upgrades. With a strong team of consultants experienced in both domestic and international projects, Adroit Infotech is recognized for its commitment to enhancing the effectiveness and efficiency of its client's operations, ensuring a high return on investment in SAP technologies.

Verso Altima India Private Limited, a subsidiary of Adroit Infotech Limited, has secured a significant order worth Rs. 2.54 Crores from Asianet Satellite Communications Limited. This project involves providing SAP BRIM & CRM Portal Managed Services with comprehensive onsite and offshore support for one year.

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Verso Altima is a leading IT services and solutions provider with a global presence. The company has a team of over 150 professionals spread across 20 countries and 4 continents. They specialize in delivering solutions in various technological areas, including analytics, IoT, AI, 5G, cloud, and more. Their expertise has helped them become a valued member of the SAP ecosystem.

This win is a major milestone for Verso Altima, showcasing its capabilities in the SAP BRIM & CRM domain. The project will involve providing comprehensive support for Asianet's SAP BRIM & CRM portal for 1 year. This will ensure that Asianet can leverage the full potential of their SAP investment and improve their business efficiency.

According to Quarterly Results, total income increased by 86.3 per cent to Rs 8.61 crore in Q4FY24 compared to Q4F23. The company reported a turnaround net profit of Rs 1.83 crore in Q4FY24 compared to a net loss of Rs 1.86 crore in Q4FY23, an increase of 198.5 per cent. In its annual results, the net sales increased by 10.7 per cent to Rs 24.86 crore and net profit decreased by 21 per cent to Rs 3 crore in FY24 compared to FY23. 

The promoters of the company sold an 11.55 per cent stake and decreased their stake to 38.45 per cent in March 2024 compared to 50 per cent in March 2023. The company's shares have an ROE of 28 per cent and an ROCE of 23 per cent. The stock is up by 62 per cent from its 52-week low of Rs 11.49 per share and multibagger returns of over 200 per cent in 3 years.

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