The shares of this micro-cap company hit a 5 percent upper circuit after the company signed a License Agreement with Baggit India Pvt Ltd for the use of the goodwill of the owner to manufacture and sell Baggit’s luggage products.
With a market capitalization of Rs 171.96 Crores. Alkosign Ltd, On Monday, The shares were trading at Rs 239 a share, an increase of 2.03 percent from the previous closing price.
The exchange filing states that Alkosign Ltd and Baggit India Pvt Ltd inked a license agreement to use the owner’s goodwill for Alkosign Ltd to manufacture and market Baggit’s luggage products through offline retail partners and online platforms within the borders of India under the “Baggit” brand.
In addition to what was previously mentioned, Alkosign Ltd is a cosponsor of the third Education Supply & Franchise Expo 2023 (ESFC), which is slated to take place at BKC, MMRDA Grounds in Mumbai on December 4, 5, and 6, 2023.
Looking into the company’s performance, Alkosign Ltd’s revenue increased by 133 percent from Rs 9.1 Crore in Q2FY23 to Rs 21.25 Crore in Q2FY24. During the same period, net profit increased by 1,020 percent from a loss of Rs 0.63 crore to a profit of Rs 5.8 Crore.
The organization is putting forth every effort to quicken the expansion of its enterprise. It anticipates strengthening its position in the market by concentrating on the more lucrative and technologically advanced product and market segment and by making significant efforts in the areas of cost reduction, productivity, and efficiency.
Alkosign Ltd., a 2020 incorporation, produces visual presentation systems for use in educational institutions. Its manufacturing facility is completely furnished with all the tools needed for efficient manufacturing and simple logistics, such as machinery.
Written by:- Abhishek Singh.
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