The share price of this IT firm hit a 5 percent upper circuit to an Intraday high of Rs 202.85  per share on Tuesday after the company received a work order worth Rs 12.37 crores from a Himachal Pradesh government.

With a market capitalization of Rs 250.72 crores,  the shares of Esconet Technologies Ltd started Tuesday’s trading session on a higher note of Rs  202.85 compared to its previous close of Rs 193.20. During the trading session, the shares locked a 5 percent upper circuit at Rs 202.85 a piece. 

According to the company’s stock exchange filings, Esconet Technologies Ltd announced received a work order worth over Rs 12.37 crores from the Himachal Pradesh State Electricity Board Limited. The order is for upgrading the ISU Billing IT Infrastructure at the client’s data center in Shimla and the Disaster Recovery Center in Paonta Sahib.

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Also, the exchange filing mentions that Esconet Technologies Limited has 180 days to complete the delivery part of the order. The contract will last for 5 years from the project completion date. The scope of work will follow the terms and conditions specified in the Purchase Order.

Reviewing the financials of Esconet Technologies   On a year-on-year basis, the revenue from operations  increased by 44.21 percent from Rs. 95 crores in FY22-23 to Rs 137 crores in FY23-24. While the net profits of the firm increased by 66.6 percent from Rs. 3 crores in FY22-23 to Rs 5 crores in FY23-24.

As for the return ratios for the year 2024, it has reported a return on equity (ROE) of 14.71 percent and a return on capital employed (ROCE) of 23.29 percent. The gross profit margin for the same year stood at 7.26 percent.

The company’s technology partners include reputed firms such as AWS, Cisco, Red Hat, Microsoft, and AMD. Additionally, their key customers include Adobe, AB InBev, Bharat Electronics, Siemens, and Indian Oil.

The product portfolio of the company includes servers and Graphics Workstations, Comprehensive Data Storage Solutions, Virtualization Software, Backup and Disaster Recovery Solutions, Data centers, and Access Networks along with Advanced Software Defined Networks.

As of March 2024, the firm’s shareholding pattern stood at 69.94  percent for promoters, 29.82 percent for the public, 5.20 percent for foreign institutional investors, and 0.04 percent for domestic institutional investors. 

Incorporated in 2012, Esconet Technologies Limited provides supercomputing solutions and data center facilities that include storage servers, network security, virtualization, and data protection.

Written by Zahal.


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