IT stock engaged in providing Software IT solutions and Consulting Services, Web designing and many more jumped upto 9 percent in the day’s trade upon foraying into renewable energy solutions.
Price action
With a market capitalization of Rs. 99 Crores, the shares of Quicktouch Technologies Limited were trading at Rs. 159 per equity share, up 9 percent from its previous day’s close price of Rs. 146.
What Happened
The board of directors of Quicktouch Technologies Limited have approved a strategic initiative of foraying into the renewable energy sector. This involves implementing green/ renewable energy solutions across various educational institutions through installation of solar panels.
It will pursue a green/renewable energy project either through a joint venture with a renowned partner or by establishing a wholly owned subsidiary. This initiative aligns with the company’s long-term vision of promoting sustainability and reducing carbon footprints while providing cost-effective energy solutions to educational institutions
In Additon its board has also approved a collaborative project with Srikaya Foundation to establish an Incubation Centre. Quicktouch has committed an initial funding of Rs.10 crores for the setup and promotion of the centre, which will provide infrastructure, business mentorship, technology support, and financial assistance to early-stage startups and entrepreneurs.
It has also approved the launch of a new product, Digital Yodha, a channel partner application designed to enhance business development through various channel partners. This innovative application will enable channel partners to onboard themselves for selling and promoting Quicktouch’s diverse range of products across different geographical markets
About the Company
Quicktouch Technologies Limited is an information technology company engaged in providing Software IT solutions and Consulting Services, IT Product/Software Development and Software Commercial Training, and Web designing.
Financials and Ratios
Its Revenue from operations grew by 266 percent from Rs. 11.38 Crores in Q1FY24 to Rs. 41.70 Crores in Q1FY25, accompanied by profits of Rs. 56 Lakhs to Rs. 1.68 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 14.1 percent, and a return on capital employed (ROCE) of 15.3 percent. It has reported a debt-to-equity ratio of 0.28.
Written by: Bharath K.S
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