Share price of this micro-cap IT stock moved up by 4.7 percent on BSE to Rs. 106.8 in the morning trading session of Friday, compared to its previous closing price of Rs. 101.93, after signing an agreement to commission ethanol plant.
With a market cap of Rs. 478 crore, at 11:46 a.m., the shares of Alphalogic Techsys Limited were trading in the green at Rs. 102, up by 0.07 percent.
In the last six months, the company has delivered multibagger returns of about 169.6 percent and nearly 257.3 percent in the last one year. So far in 2024, it has given positive returns of around 50.9 percent.
According to the latest regulatory filings with the BSE, Alphalogic Techsys Limited has signed a Supplier Agreement with Mojj Engineering Systems Limited.
This agreement was signed for the design, manufacture, supply, erection and commissioning of a grain-based distillery plant to produce ethanol to Alphalogic Techsys Limited.
Before this, Alphalogic Techsys Limited and the District Administration, Chandrapur in Maharashtra, signed a Memorandum of Understanding (MoU) to facilitate the establishment and operationalise of industrial activities.
As per the March 5th filings, the company will establish a grain-based Bio-Ethanol plant with a proposed investment of Rs. 160.35 crore, and the project is expected to generate employment for 200 people.
In terms of financials, the company’s revenue from operations increased by 159.3 percent YoY from Rs. 5.5 crore in Q3 FY22-23 to Rs. 14.26 crore in Q3 FY23-24.
The net profit of the company also increased by 24.4 percent to Rs. 1.58 crore in Q3 FY23-24 from Rs. 1.27 crore in Q3 FY22-23.
Incorporated in 2018, Alphalogic Techsys Limited is engaged in the business of providing Information Technology and related services.
The company is a boutique consulting firm that provides services in product engineering, cloud computing, mobility and Artificial Intelligence areas.
Written by Shivani Singh
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