This S&P BSE SME IPO index penny stock jumped 10% within the first half hour of markets opening on Monday after it bagged an order from Scootsy Logistics Private Limited (popularly known as “Swiggy”).
The stock currently trades at Rs. 242.00 versus Rs. 231.60 at previous close. The company has a market cap of Rs. 123 crore and is currently trading 5% away from its 52 week high and 22% above its 20 day moving average. The stock was listed in mid July 2023.
In a filing dated 9th October 2023, Alphalogic Industries Ltd (“Alphalogic”) announced that company has won order to design, manufacture, supply and installation of Storage Racking System from Scootsy Logistics Private Limited (popularly known as “Swiggy”) for their units based in Sanga Reddy, Malkajigiri and Ranga Reddy District in Telangana, Mormugao and Calungute in Goa and Vadodara in Gujarat. The aforementioned order is worth Rs. 71.1 lakh and to be completed in this month.
Alphalogic designs, manufactures, supplies, and installs industrial and institutional storage systems in India. The company has its manufacturing unit located in Pimpri Chinchwad, Pune, Maharashtra.
The company reported robust financials for the last three years in its IPO filings. Revenue was Rs. 3.2 crore in FY21, Rs. 7.8 crore in FY22 and Rs. 18.2 crore in FY23. During the same periods, the company’s Net Profits were Rs. 8.3 lakh, Rs. 30.5 lakh and Rs. 2.2 crore respectively. Additionally, the company’s ROE is 85%, ROCE at 75% and a debt to equity ratio of 0.86.
Written by Sandeep R
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