Share prices of this smallcap stock in the telecom equipment sector went up by over 4 percent to today’s high of Rs. 1,212.5 on Wednesday in the morning session from its previous close of Rs. 1,189.5.
With a market cap of Rs. 1,323 crore, Suyog Telematics Ltd. has given over 170 percent of returns in the past six months and nearly 205 percent in the last one year. So far in 2024, the company has given more than 21 percent of returns.
As per the bulk deal data available with the BSE, investor Fortune Smart Lifestyle sold 2.5 lakh equity shares in the company on January 17, which is around a 2.3 percent stake, at an average price of Rs 1,086.41 per share.
However, after this, NHIT Global Emerging Markets Equity Trust purchased 1,12,261 shares in Suyog, Natixis International Funds Lux I picked 57,886 equity shares, and Destinations International Eq Fund A Series of Brinker Capital Destinations Trust bought 1,25,828 shares at an average price of Rs 1,086.40 per share.
Fortune Smart Lifestyle had previously sold its shares in Suyog multiple times. Prior to the recent transaction, it had sold 1,42,323 equity shares on January 11 at an average price of Rs. 1,065.7. Additionally, on December 27, the company sold 1 lakh shares at an average price of Rs. 932.03, and on December 29 of the previous year, it sold 2 lakh shares at an average price of Rs. 935.59.
Fortune Smart Lifestyle Private Ltd. has 16,04,775 equity shares, which is around 15.07 percent of shareholding in Suyog Telematics Limited, as of December 2023.
Financially, Suyog Telematics’s median sales growth has been 24.5 percent for the last 10 years, but the company has delivered a poor sales growth of 11.2 percent over the past five years and the debtor days have increased from 84.9 to 103 days.
The company’s revenue from operations grew by 13.69 percent to Rs. 144 crore in FY22-23 from Rs. 126 crore in FY21-22, accompanied by net profits of Rs. 46 crore in FY22-23 increasing from Rs. 41 crore in FY21-22.
As of December 2023, the Promoters hold 47.37 percent of the shares in the company which has decreased by 0.57 percent from the last quarter, and the Public holds the rest 52.63 percent.
Incorporated as Suyog Telematics Private Limited in 1995, the company is engaged in the business of installing, commissioning and servicing of poles, towers, and optical fibre cable systems.
The company is a service provider of telecommunication products and services, catering to the telecommunication industry with operators across 12 telecom circles in India.
Written by Shivani Singh
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