The shares of the company engaged in the business of Precious Metals, Stones & Jewellery Trading hit a 10 percent upper circuit to Rs.138.85 per share after securing orders worth Rs.379.62 million.
Price Movement
In Tuesday’s trading session, the share price of Starlineps Enterprises Limited hit a 10 percent upper price band to Rs.138.85 per share its previous close of Rs.126.25 apiece.
What happened
Starlineps Enterprises Limited has received an order from M/s. Saketh Impex for the supply of natural diamonds, with the contract valued at Rs.379.62 million, inclusive of GST.
This domestic order is based on carat pricing and is to be fulfilled before September 30, 2025. The contract outlines the terms for delivering natural diamonds to M/s. Saketh Impex.
Starlineps Enterprises Limited’s recent contract is poised to significantly boost the company’s revenue and enhance investor confidence. This development will provide operational stability, allowing for better resource allocation and planning.
Successfully executing this contract can also strengthen long-term client relationships, positioning Starlineps as a competitive player in the precious metals and jewelry sector, while potentially attracting more investors to its shares.
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Recent Developments
Starlineps Enterprises Limited is investing Rs. 2.69 million in Writeplus AI Pvt. Ltd. (LiaPlus AI). This investment gives Starlineps a non-controlling stake and allows it to enter the growing AI sector.
LiaPlus AI specializes in multilingual AI technology, providing advanced solutions that improve efficiency and customer service. This investment will help diversify Starlineps’s portfolio and is expected to generate significant returns, with LiaPlus AI projected to achieve $41.2 million in revenue by FY2028.
Financial Performance
Analyzing the company’s financial results, for the quarter ending June 2024, Starlineps Enterprises Limited reported consolidated revenue of Rs.17.15 crore, representing a significant increase of 355 percent from Rs.3.77 crore in the same quarter the previous year.
In terms of profitability, the company achieved a Profit After Tax (PAT) of Rs.2.85 crore for Q1 FY25, which is an impressive growth of 714.3 percent compared to Rs.0.35 crore in Q1 FY24.
Company Overview
Starlineps Enterprises Limited specializes in the trading and retailing of jewelry. They offer a range of products including diamonds, pearls, precious stones, and ornaments made from gold, silver, and platinum.
The company also emphasizes an e-commerce approach, aiming to provide equal opportunities for various enterprises, from large manufacturers to small local artists, thereby broadening its market reach.
Written by – Siddesh S Raskar
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