Shares of this smallcap company locked a 5 percent upper circuit in Monday’s trading session after receiving an order worth Rs. 70 crores. The shares have delivered a multi-bagger return of 101 percent in just three months to its shareholders.
With a market capitalization of Rs. 1,212 crores, the shares of Sahana Systems Ltd started Monday’s trading session on a higher note at Rs. 1,515.05 clocking a 5 percent upper circuit, also recorded as the company’s fresh 52-week high, compared to its previous close of Rs. 1,442.95 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received a work order from Satra Services and Solutions Private Limited for Centrally Sponsored Primary Agricultural Co-operative Credit Society Computerization Project (CSPCP) in the state of Karnataka as a sub-contractor worth Rs. 70 crores.
Looking at the company’s financial statements, the revenue zoomed by 88 percent from Rs. 24 crores during H1FY24 to Rs. 45 crores in H2FY24. On the other hand, the net profits zoomed by 180 percent from Rs. 5 crores to Rs. 15 crores during the same period.
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 32.29 percent and a return on capital employed (RoCE) of 41.16 percent for the period spanning FY23-24. Furthermore, the net profit margin during FY23-24 was 26.37 percent.
Sahana System caters to industries including healthcare, surveillance, retail, restaurant, education, e-learning, banking, media and entertainment, fintech etc.
According to the latest shareholding pattern, the Promoters retain 62.88 percent ownership, while DIIs possess 0.60 percent of the shares, leaving the remaining 36.52 percent in the hands of 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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