The shares of this smallcap company jumped around 5 percent after reporting an increase in net profits by 102 percent QoQ. The stock was listed at a premium of around 14 percent over its IPO price on May 30, 2024.
Price Movement:
With a market capitalization of Rs. 4,878 crores, the shares of AWFIS Space Solutions Ltd started Wednesday’s trading session on a higher note at Rs. 700 compared to its previous close of Rs. 670.95.
During the trading session, the shares hit a high of Rs. 746.65, gaining around 5 percent and are currently trading at Rs. 704 apiece.
What Happened:
Such a positive movement in the share price was observed after the company announced their Q1FY25 results. Quarterly, the revenue jumped by around 11 percent from Rs. 232.32 crores during the March quarter to Rs. 257.74 crores in the June quarter. On the other hand, the net profits magnified by 102 percent from Rs. 1.38 crores to Rs. 2.79 crores during the same period.
Comparing the same metrics on a YoY basis, the revenue zoomed by around 37 percent from Rs. 187.7 crores during Q1FY24 to Rs. 257.74 crores in Q1FY25. In addition, the net profits showcased a transition from a net loss of Rs. 8.31 crores to a net profit of Rs. 2.79 crores during the same timeframe.
Moreover, the operating EBITDA margin for Q1FY25 is 30.7 percent, improved by 360 bps on a YoY basis and the operating EBITDA margin improved to 11.5 percent in Q1FY25 against 4.5 percent in Q1FY24 on the back of strong revenue growth and operating efficiencies.
Looking at the company’s segmental revenue break up, 72 percent of its revenue came from co-working space rentals and related services, 26 percent from construction and fit-out projects, and the remaining 2 percent from other segments.
As of June 30, 2024, the company surpassed 1 lakh operational seats and 169 operational centres. Further, since June 2023, AWFIS Space Solutions has added 48 centres and 30,156 seats. Year-over-year, this represents a 43 percent increase in operational seats and a 40 percent rise in operational centres.
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Services:
AWFIS Space Solutions offers a comprehensive range of flexible workspace services tailored to meet diverse client needs. Their core offerings include co-working spaces, which provide both individual flexible desks and customized office setups for startups, SMEs, and large corporations.
Prominent Investors:
According to the BSE data, Ace Investor Mr Ashish Kacholia entered the stock in March 2024, by acquiring over 33.51 lakh equity shares equivalent to a 4.83 percent stake in this company. The current holding value of his investment amounts to Rs. 236 crores.
Company Profile:
Incorporated in December 2014, Awfis Space Solutions Limited is a workspace solution provider in India. Awfis Space Solutions provides a wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customised office spaces.
Written By Vaibhav Patil
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