During Wednesday’s trading session, the shares of a company engaged in trading software and consultancy services hit a 5 percent circuit to Rs. 670.5 on BSE, after receiving a work order worth Rs. 35.6 crores to supply a power distribution software to MSEDC.
With a market cap of Rs. 1,158.5 crores, the shares of Trident Techlabs Limited opened in the red at Rs. 606.8, down by 5 percent, compared to its previous closing price of Rs. 638.6.
What’s the news:
According to the latest regulatory filings with the NSE, Trident Techlabs has been awarded a work order from SCS Tech India Private Limited, with a total contract value of nearly Rs. 35.66 crores, inclusive of 18 percent GST.
The order is for the supply of Cyme power distribution network planning software to Maharashtra State Electricity Distribution Co. Ltd. (MSEDC), Mumbai. The scope involves the installation of the software and the provision of software maintenance services for a period of one year.
Previous Orders:
On 28th May, Trident Techlabs Limited secured a work order worth around Rs. 40.5 crores from the Defence Research and Development Organization (DRDO) for AMC Support for EDA, COMSOL Multiphysics, Reliability Software Suite, over a three-year period at DRDO Headquarters in Rajaji Marg, New Delhi.
On 17 July, the company was awarded a work contract by the Department of Defence R&D, Ministry of Defence, for one High-Speed PCB Design-Power Thermal Integrity Analysis Software (Q3) and one High-Speed PCB Design Rule Check software (Q3), with a total contract value of nearly Rs. 1.26 crores.
Financials:
The company reported a marginal growth in revenue from operations, experiencing a year-on-year increase of nearly 7.7 percent, rising from Rs. 67.4 crores in FY23 to Rs. 72.6 crores in FY24.
During the same period, the company’s net profit increased from Rs. 4.7 crores to Rs. 9.4 crores, representing a growth of around 100 percent YoY.
About the company:
Incorporated in 2000, Trident Techlabs Limited is engaged in the business of trading of software and consultancy services to the aerospace, defence, automotive, telecommunications, and semiconductor industries, along with providing power sector consultancy in India.
Written by Shivani Singh
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