Under Rs 250: Debt-Free IT Company Bags Order Worth Rs 3,00,00,000 from Indian Bank; Stock Hits Upper Circuit on Friday, Keep This on Radar for Monday!
The company’s shares have delivered an impressive return of over 30 per cent in the past week.
This Small-Cap company is a software development company engaged in providing Core Banking Software, IT Solutions, and ERP Implementation services for the Banking, Financial Services, and Insurance (BFSI) sector. Based in Nagpur, the company is focused on SaaS products and has established itself as a key player in the niche of Core Banking Software. Trust Fintech Limited is primarily involved in the implementation and deployment of its flagship Core Banking Software products, TrustBankCBS and MicroFinS.
On August 17, 2024, Trust Fintech Limited received a purchase order from Indian Bank's Digital Business and Fintech Partnership Department (Region II) for the design, development, maintenance, and customization of the PMEGP (Prime Minister's Employment Generation Programme) Portal for the Ministry of MSME (Micro, Small and Medium Enterprises). The contract is set for a period of three years, starting from the date the portal goes live. The order is valued at Rs 3 Crore.
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On Friday, the shares of Trust Fintech Limited closed at around Rs 220.90 per share on the NSE. The company’s current market capitalization stands at Rs 526.30 crore.
As per the Quarterly Results, in the Q1 FY25, Trust Fintech Limited recorded a revenue of Rs 16 crore compared to Rs 17 crore. The operating profit stood at Rs 8 crore. The net profit stood at Rs 5 crore compared to a profit of Rs 2 crore. Looking at the annual performance, the company generated a revenue of Rs 35 crore in FY24. The operating profit for FY24 was Rs 18 crore with a net profit of Rs 12 crore compared to a net profit of Rs 4 crore in FY23.
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Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.