This Micro-cap diversified stock hit its lower limits twice in a row despite order renewal worth Rs. 138 crores from a large-cap PSU bank.
Price movement:
Eraaya Lifespaces Ltd, with a market capitalization of Rs. 5,057.72 Crores touched its lower circuit, falling to Rs. 2,751.1 per share, from its previous close of Rs. 2,895.85 per share. The stock has rallied 116% in the last 30 days.
Today’s deals:
Eraaya Lifespaces Limited’s subsidiary, Ebix Cash Ltd, secured a renewal deal valued at approximately Rs 138.75 crores with Punjab National Bank (PNB) for Network Integrating Services. 2024, involves managing PNB’s extensive network, including 10,800 branches, 5,000 ATMs, and 4,000 branches of PNB-sponsored Regional Rural Banks starting from October 1, 2024.
Additionally, Ebix Cash will manage and oversee a state-of-the-art Data Centre in Delhi, an Advanced Network Operations Centre, and a Disaster Recovery Centre in Mumbai, supported by over 1,100 personnel. As per the management, this contract renewal underscores Ebix Cash’s capabilities and positions it as a key player in enhancing banking services across India.
Financials:
The company reported annual revenues of Rs.297.5 Crores in FY 2024, up from Rs. 0.24 Crores in FY 2023, and a Net profit of Rs. 0.34 crores in FY 2024, up from Rs. 0.76 Crores in FY 2023. Revenues of Rs. 297.5 Crores in FY 2024 include the sale of shares of Rs. 296.1 Crores.
Shareholding pattern:
As of August 2024, the company promoters own 43.98% stake, both Foreign institutional investors and Domestic institutional investors own 0.02% of the company, and the retail investors hold 56.01% stake in the company.
About the company:
Eraaya Lifespaces Limited is a lifestyle and hospitality company that focuses on providing experiences that blend luxury and comfort. The company emphasises India’s culture and heritage, offering services in event management and content production.
Eraaya is pursuing growth through diversification and plans to explore new business fields via mergers and acquisitions. With a commitment to innovation and a strategic approach, the company aims to create value for its stakeholders and adapt to market changes.
Written By: Arvind jv
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