Shares of this microcap company jumped 4 percent in Friday’s trading session after securing a contract with the Embassy of the Republic of Korea. In three months, the shares have delivered more than 30 percent returns to its shareholders.
With a market capitalization of Rs. 522 crores, the shares of DU Digital Global Ltd started Friday’s trading session on a higher note at Rs. 74.80 compared to its previous close of Rs. 71.65. During the trading session, the shares hit a high of Rs. 74.90, gaining around 4 percent and are currently trading at Rs. 74.35 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that one of its subsidiary companies DuVerify LLC- FZ, had secured a contract with the Embassy of the Republic of Korea, New Delhi.
For which, DuVerify LLC FZ will provide comprehensive document verification services to the Embassy of the Republic of Korea, New Delhi, ensuring the authenticity and integrity of crucial documents.
Looking at the company’s financial statements, the revenue decreased by around 30 percent from Rs. 15.11 crores during H2FY23 to Rs. 10.65 crores in H1FY24. On a contrasting note, the net profits showcased a transition from a net loss of Rs. 34 lakhs to a net profit of Rs. 5 lakh during the same period.
In terms of key financial metrics, the company reported a return on equity of 2.62 percent and a return on capital employed of 6.11 percent for the period spanning FY22-24. Additionally, the net profit margin stood at 2.36 percent during the same timeframe.
Earlier, On February 20th, 2024, DUDGL entered into a Memorandum of Understanding with Cosmos Group in Bangladesh, for expanding company reach and offering solutions in the visa processing industry.
According to the latest shareholding pattern, Ace Investor Mr Ashish Kacholia, entering the stock in September 2022, currently holds approx 63.80 lakh equity shares equivalent to a 9.15 percent stake in this company. The current holding value of his investment amounts to Rs. 45.7 crores.
Incorporated in 2007, DU Digital Global has a worldwide presence and is specialized in administrative and non-judgmental tasks cognate to visa, passport, identity management, and other citizen services for its client governments.
Written By Vaibhav Patil
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