The shares of this IT company with expertise in Artifical Intelligence (AI) company hit a 5% upper circuit after receiving strong orders from two entities. In just 3 months, the company’s stock has delivered multibagger returns of 200 percent to its stakeholders.
With a market capitalization of Rs. 339.49 cr, the shares of Sahana System Ltd started their Friday trading session on a positive note. Within a few minutes of the opening bell, the company’s share went to hit a 5 percent upper circuit at Rs. 445.75 apiece. The share has also made a new 52-week high at the same price.
Such a bullish sentiment was observed after the company in an exchange filing mentioned that it had received multiple orders. They received an order from a state government company Guj Info Petro Limited to supply, install, and provide technical support for the WatchGuard M290 Hardware Appliance with 3 Years of Basic Security Software Suits.
Furthermore, the company mentioned that it entered into a Service Agreement with American-based company Go Knit INC. for providing Software platform/software support and services for a period of a minimum of 3 years.
Digging into the financial statements of the company, the revenue increased by 207 percent from Rs. 7.18 crores during Q2 FY22 to Rs. 22.13 crores in Q2 FY23. In addition to this net profit magnified by 110 percent from 1.86 crores to Rs. 3.9 crores during the same timeframe.
Looking at the important financial ratios, the return on equity (RoE) was 85.52 percent during FY22-23. Moreover, the return on capital employed (RoCE) was recorded at 75.39 percent during the same period.
According to the latest shareholding pattern, Promoters have a 62.88 percent stake in the company and the remaining 37.12 percent is with Retail Investors.
Headquartered in Ahmedabad, Sahana System Ltd has extensive expertise in Artificial Intelligence Development, Machine Learning applications, Web and Mobile App Development, Application Migration, and Tender Management.
Written By Vaibhav Patil
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