The share price of this firm hit a 5 percent upper circuit to a 52-week high of Rs 225.8 per share on Monday after the company ventured into healthcare business following a work order from Assam Government to deploy A.I product in health care centers.
With a market capitalization of Rs 4,921.26 crores, the shares of Blue Cloud Softech Solutions Ltd hit 5 percent upper circuit on Monday’s market hours.
What happened: Blue Cloud reported in its stock exchange filings that it has secured an order from the Assam government in the state to deploy its flagship Healthcare Artificial Intelligence of Things (AIOT) product named ‘Truhealthz’ in the ESI Primary Healthcare Centres for the state of Assam.
The filing also mentions that Truhealthz is a medical tool manufactured by Blue Cloud that simplifies health check-ups and predicts the risk of chronic diseases using advanced AI technology and remote Photoplethysmography (rPPG) algorithms.
Why it matters: The product of Blue Cloud empowers government health authorities to cut costs and speed up diagnostics, making healthcare more affordable for everyone.
Financials: Reviewing the financials of Blue Cloud Softech from a QoQ basis, the revenues rose by 27.5 percent from Rs 167 crores in Q3FY24 to Rs 213.09 crores in Q4FY24. In the same time frame, the net profits increased from Rs 4.07 crores to Rs 8.58 crores demonstrating a 110 percent increase.
Ratios: In terms of return ratios for the year 2024, it has reported a return on equity (ROE) of 8.67 percent and a return on capital employed (ROCE ) of 12.01 percent. The debt-to-equity ratio stood at nil for the same time frame.
Share price movement: This stock generated both multi-bagger returns of 275 percent over the past year and 286.98 percent over the past 6 months.
Shareholding pattern: As of March 2024, the firm’s shareholding pattern stood at 34.02 percent for promoters, 43.05 percent for the public, and 22.93 percent for foreign institutional investors.
About the company: Incorporated in 1991, Blue Cloud Softech Solutions Ltd is in the business of computer software and data processing services. The company is based in Hyderabad. The firm provides services in digital transformations, Managed IT solutions, cloud mitigation, software architecture, and digital workforce management.
Written By Zahal
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