During Monday’s trading session, the shares of a pioneering sports technology company hit a 2 percent upper circuit on BSE, after the company announced incorporating a subsidiary in Maharashtra.
Price Movement
With a market capitalisation of Rs. 627 crores, the shares of Colab Platforms Limited hit a 2 percent upper circuit and a new 52-week high at Rs. 61.46, as compared to its previous closing price of Rs. 60.26.
The stock has delivered multibagger returns of nearly 302 percent in the last one year, while around 54 percent of positive returns in the last one month.
What’s the News
According to the latest regulatory filings with the BSE, Colab Platforms Limited announced forming a wholly-owned subsidiary in the name of “Colab Sports Ventures Private Limited”.
With an authorized share capital of Rs. 25 lakhs, this wholly owned subsidiary is incorporated in Maharashtra, with the Certificate of Incorporation granted by the Central Registration Centre, Ministry of Corporate Affairs.
The new subsidiary will focus on the sale of sports equipment and apparel through both online and offline channels, playing a key role in driving the expansion of the holding company’s business.
Colab Platforms has fully subscribed to 2,50,000 equity shares of Rs. 10 each, making it the sole owner of the entity.
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Financials
Colab Platforms reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 1971.4 percent, rising from Rs. 1.12 crores in Q3 FY24 to Rs. 23.2 crores in Q3 FY25.
Likewise, during the same period, the company’s net profit increased from Rs. 0.88 crores to Rs. 0.92 crores, representing a growth of around 4.5 percent YoY.
About the Company
Incorporated in 1989, Colab Platforms Limited, formerly known as Colab Cloud Platforms Limited, is engaged in the business of delivering innovative technological solutions across various sectors, leveraging its expertise in advanced technologies to drive growth and enhance user experiences.
Written by Shivani Singh
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