IT stock engaged in offering geospatial engineering, mobility, enterprise solutions and many more hit a 20 percent upper circuit in the day’s trade upon receiving a new work order worth Rs. 331.61 Crores from the Government of Maharashtra.
Price Movement
With a market capitalization of Rs. 1,412 Crores, the shares of Ceinsys Tech Limited hit a 20 percent upper circuit in the day’s trade at Rs. 864.20 per equity share, from its previous day’s close price of Rs. 720.20.
What Happened
Ceinsys Tech Limited engaged in providing Geospatial, Engineering, and other Services has received a Letter of Award from the State Water and Sanitation Mission (SWSM), Water Supply and Sanitation Department (WSSD), Government of Maharashtra for a consideration of Rs. 331.61 Crores.
The said work order is for the Appointment of System Integrators for IoT Deployment including Design, Implementation & Maintenance with a Centralized IoT Platform for Jal Jeevan Mission Projects Phase II in the State of Maharashtra. A time period of 2 years is set for the implementation and 5 years for the operations & Maintenance.
About the Company
Ceinsys Tech Limited is engaged in offering geospatial engineering, mobility, and enterprise solutions. It is also engaged in the sale of software and electricity. Its engineering services and Enterprise solutions encompass various aspects of geospatial intelligence, including Data Creation, Data Analytics, Decision Support Systems (DSS), Enterprise Web Solutions, and Dashboards.
Its products and services include C mapping and analysis, mining applications and heritage mapping, hydraulic modelling, water metering solutions, municipal solutions, consultancy services for the DPR preparations for water supply schemes, roads and highways, and many more.
Coming to the revenue break up as of FY24, Ceinsys Tech Limited generated 81 percent of its revenue from Geospatial & Engineering Services and 19 percent from Technology Solutions.
Financials & Ratios
Its Revenue from operations grew by 37 percent YoY from Rs. 54 Crores in Q1FY24 to Rs. 74 Crores in Q1FY25, accompanied by profits of Rs. 8 Crores to Rs. 12 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 16.2 percent and a return on capital employed (ROCE) of 22.4 percent. It has reported a debt-to-equity ratio of 0.18.
Written by: Bharath K.S
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