The shares of this micro-cap stock engaged in SAP solutions hit a 10 percent upper price band of Rs.20.88 per share after receiving a Rs.37.76 million order from a South African company for providing SAP solutions.
Price Variation
On Tuesday, Adroit Infotech Limited’s share price hit a 10 percent upper circuit limit of Rs.20.88 per share, up from the previous close of Rs.18.99 apiece. The stock has since retreated to Rs.20.39 per share.
What is the news
Adroit Infotech received an order from Empresa Nacional de Bilhética Integrada, Angola, through its subsidiary Adroit Infotech L.L.C. FZ. The order is for SAP BRIM implementation, migration services, user training, and transition support services.
This international order, valued at approximately $450,000 (Rs.37.76 million), is to be completed by March 31, 2025.
Recent Developments
Adroit Infotech has secured a Rs.2 crore order from BIZNET for SAP BRIM managed services, including one year of functional, technical, and onsite/offshore support.
The company is also set to acquire a US-based ERP solutions firm to boost growth and expand its North American presence.
International Footprint
Adroit Infotech L.L.C. FZ, a wholly-owned subsidiary of Adroit Infotech Limited, aims to expand its business opportunities in the Middle East and Africa as a leading IT services and solutions provider.
Based in India with a collaborative center in Dubai, Adroit Infotech specialises in SAP and SAP-BRIM delivery. The team, comprising over 150 professionals, operates across 20 countries and four continents.
The company is expanding its global footprint, with new engagements in countries such as the USA, Nigeria, UAE, Singapore, Thailand, Angola, and Oman.
Financials
Turning towards the financials of the company, Adroit Infotech reported Q1 FY25 revenue of Rs.6.56 crore, up 10.8 percent from Rs.5.92 crore in the same quarter last year. Profit After Tax (PAT) increased by 14 percent to Rs.0.49 crore, compared to Rs.0.43 crore in the same time period.
Company Profile
Adroit Infotech Limited is engaged in providing software development and consulting services. Adroit is one of the leading SAP solutions companies and also provides SAP consultancy services.
Written by – Siddesh S Raskar
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