In Thursday’s trading session, the share price of a company engaged in the business of the creation of databases hit a 2% upper circuit at Rs. 226.25, after the company’s Board approved raising up to Rs. 50 crore through rights issue.
With a market capitalisation of Rs. 144.8 crore, the shares of ACE Software Exports Limited have delivered multibagger returns of 929.3 percent in one year and 817.8 percent in the last six months.
According to the latest regulatory filings on BSE, the Board of ACE Software Exports approved raising up to Rs. 50 crores through a rights issue.
The Board has also considered and approved the increase in the company’s Authorised Share Capital from Rs. 11 crore to Rs. 15 crore, subject to the approval of the shareholders.
Further, the company’s Board approved further investments of Rs. 12.9 crore in Ace Infoway Private Limited (AIPL), along with investments of Rs. 14.44 crore and Rs. 2.86 crore in QeNomy Digital LLP and QeCAD Studio LLP, respectively, for acquiring up to 60 percent additional share.
Post-investment, ACE Software Exports will hold a 100 percent share in the AIPL and will become a wholly-owned subsidiary of the company.
Earlier on 16th April, the Board approved raising funds up to an amount of Rs. 45 crore through an issue of equity shares or any other equity-linked instruments or securities through a private placement and/or preferential issue and/or a rights issue or through any other permissible mode.
On a year-on-year basis, the company’s revenue from operations stood at Rs. 17.75 crore in Q4 FY23-24, rising by nearly 815 percent from Rs. 1.94 crore in Q4 FY22-23, while the PAT increased from a loss of Rs. 0.21 crore in Q4 FY22-23 to a profit of Rs. 1.82 crore in Q4 FY23-24.
The return on equity (ROE) stood at 16.44 percent in FY23-24, up from 0.73 percent in FY22-23, as well as a rise in the Return on Capital Employed (ROCE) from 0.96 percent in FY22-23 to 17 percent in FY23-24.
As per the shareholding pattern of March 2024, the Promoters hold a 74.96 percent stake, while the retail investors hold a 25.04 percent stake in the company.
Incorporated in 1994, ACE Software Exports Limited specialises in software database creation, along with offering document management, digital publishing, and data conversion solutions using process engineering and affordable & flexible conversion systems.
Written by Shivani Singh
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