Micro-cap stock offering environmental consulting services rose by nearly 1 percent following the company’s signing of a Memorandum of Understanding (MOU) with ARK Sustainable Technologies to advance environmental and sustainability efforts.
Share Price Variation
In Wednesday’s trading session, the share price of TechKnowGreen Solutions Limited reached an intra-day high of Rs.318 per share from its previous close of Rs.316 apiece, gaining around 1 percent in the session.
What is the news
On August 21, 2024, TechKnowGreen Solutions Limited, headquartered in Pune, India, and ARK Sustainable Technologies Private Limited, registered in Singapore, entered into a Memorandum of Understanding (MOU).
This agreement is designed to promote collaboration in environmental and sustainability initiatives. The partnership will focus on joint ventures and research and development efforts, facilitating technology transfer, research publications, and innovative solutions in these fields.
The profit-sharing arrangement is set at 75:25, with a strategic emphasis on expanding into global markets, particularly Singapore and India. The collaboration aims to enhance services through cross-selling and cooperative approaches.
Reputed Clientele
TechKnowGreen Solutions Limited features a strong client roster with prominent names such as Siemens, Cipla, Piramal, Abbott, Mahindra, Hyundai, Cadbury, ITC, BHEL, and several others.
Domestic and International Presence
The company operates in over 15 states with two branches, focusing on Maharashtra, Karnataka, and Delhi due to their industrial and regulatory importance. The company also has a presence in Jeddah, Saudi Arabia, through a partnership with Munif AL Nahdi Trading and Contracting Company, and has worked with US EPA and Sweden’s SIDA/SMHI.
Financials
TechKnowGreen Solutions Limited releases its financial results every six months. For the half-year ending March 2024, the company saw an increase in operating revenue but experienced a decline in net profits due to higher tax expenses.
In H2FY24, the company reported revenue of Rs.14.22 crore, marking a 54.22 percent rise from Rs.9.22 crore in H1FY24. However, net profits decreased by 11.42 percent, falling to Rs.2.87 crore from Rs.3.24 crore in the same period.
Shareholding composition
As of March 2024, TechKnowGreen Solutions’ shareholding pattern shows that Promoters hold 65.58 percent of the shares, while Retail investors hold 34.43 percent.
About the Company
Techknowgreen Solutions Limited provides environmental consulting services. Its consulting services include environmental impact assessment, ESG and climate change, environmental compliance, environmental due diligence, DPR and designing training and sensitization, and environmental crime investigation.
Written by – Siddesh S Raskar
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