Microcap shares stayed in green after it announced a partnership with Vodafone Idea for a VR combat shooting game at the India Mobile Congress.
With a market capitalization of Rs. 152 crores, the shares of Yudiz Solutions opened on a positive note at Rs. 149.20 compared to its previous close at Rs. 149 and currently trading at Rs. 150 apiece.
In an exchange filing, the company mentioned that it announced the launch of a groundbreaking VR combat shooting game in partnership with leading telecom operator Vodafone India (Vi) at the Indian Mobile Congress.
The combat shooting game serves as a thrilling showcase of 5G and Virtual Reality’s immense potential in the gaming world. Furthermore, the company mentioned that the partnership between Yudiz and Vi is all about raising the bar redefining what gamers can expect from the company, and providing better gaming experiences to the users.
Digging into the financial statement, the revenue increased by 46 percent from Rs. 18.76 crores during FY 21-22 to Rs. 27.31 crores. In addition to this, the net profit was accelerated by 209 percent from Rs. 1.17 crores to Rs. 3.62 crores during the same period.
Coming on to the important ratios, the return on equity ratio increased from 12.25 percent during FY21-22 to 31.3 percent in FY 22-23. Furthermore, the return on capital employed magnified from 21.59 percent to 43.56 percent keeping the same timeframe. The company’s debt-to-equity ratio is zero which means that the company does not have the burden of debt.
According to the latest shareholding pattern, Promoters have 73.67 percent stake in the company, the Public or the Retail Investors have 20.83 percent shares in the company, FIIs have taken 4.07 percent shares and the remaining 1.43 percent is with DIIs.
Yudiz Solutions Ltd is a gaming-focused, global blockchain and AI-based enterprise solutions technology company. Headquartered in Ahmedabad, the company has an international presence. It has expertise in IT services provider and consultant recognized for cutting-edge solutions in the Web and Mobile app space, including AI/ML, and AR/VR.
Written by Vaibhav Patil