Shares of this micro-cap company hit the 10 percent upper circuit on Wednesday after the company received multiple work orders worth Rs 3.39 crores. In the past month, the company’s shares have gained a huge 78 percent for its stakeholders.
With a market capitalization of Rs 237.43 crores, the stocks of Techknowgreen Solutions Limited started their trading session on Wednesday at Rs 294 and currently trades at Rs 321.60, hitting the 10 percent upper circuit. The locked price is also recorded as the company’s fresh 52-week high level.
In a recent filing with the exchange, the company intimated that it has received a couple of work orders from two Domestic entities, viz, Cipla Limited and STT Global Data Centres India Private Limited, totaling Rs 3.39 crores.
The former entity provided an order for irrigation facilities worth Rs 2.23 crores, and, the latter entity provided an order worth Rs 1.16 crores for professional services – designing of a virtual chimney, air dispersion modelling, and policy research toward decarbonization pathways.
During the recent financial years, the company has successfully been able to increase its operating revenues and net profits with the former increasing from Rs 9 crores during FY21-22 to Rs 14 crores during FY22-23, and, the latter, during the same time, moving up from Rs 1 crore to Rs 4 crores.
In addition to the above, the profitability ratios of the company increased with the return on equity (RoE) moving up from 30.39 percent during FY21-22 to 71.23 percent during FY22-23, and, the return on capital employed (RoCE) increasing from 51.02 percent to 98.74 percent.
Keeping a purview of six months, the company’s stock has delivered multibagger returns of around 252 percent, i.e., if someone had invested Rs 1 lakh into the stock six months ago, it would have converted to Rs 3.52 lakhs.
The latest shareholding pattern data of the company, as per the September 2023 quarter, portrays the company’s Promoters holding a 65.58 percent stake followed by the Public (retail) investors holding the remaining 34.42 percent stake in the company.
Incorporated in 2001, Techknowgreen Solutions Limited is one of the first companies in India to provide environmental consulting services. The company has three broad business segments such as consulting, Info Tech, and Research Policy and Engineering.
Written by Amit Madnani
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