Shares of a leading innovator in the fintech sector and business solution provider moved up by 9.4 percent on BSE to Rs. 24.25 on Wednesday, after the Board of the company made an equity investment in a health-tech company, marking its entry into the healthcare technology sector.
With a market capitalisation of Rs. 710 crores, the shares of Bartronics India Limited closed in the green at Rs. 23.31, up by nearly 5.2 percent, as against its previous closing price of Rs. 22.17.
What’s the News:
According to the latest regulatory filings with the stock exchanges, the Board of Bartronics India Limited has made an equity investment in Ampivo Smart Technologies Private Limited.
Bartronics India acquired 2,136 equity shares of Ampivo Smart Technologies at a price of Rs. 7,020 per share, including the premium, resulting in a total acquisition cost of nearly Rs. 1.49 crores.
The Board approved this investment on 27th May 2024, with the objective of diversifying the business and entering the healthcare technology sector.
Following this allotment, Bartronics India Limited holds a 6.47 percent stake in the paid-up capital of Ampivo Smart Technologies Private Limited, having acquired 2,136 equity shares with a face value of Rs. 10 each.
About the Target Entity:
Ampivo Smart Technologies Private Limited, formerly known as Ampivo Technologies Private Limited, is a new-age digital health tech company based out of Hyderabad, Telangana, with a focus on providing innovative solutions which make a deep social impact.
The company was incorporated on May 11, 2022, and is presently valued at Rs. 75.76 crores.
Previous News:
On 18th July, Bartronics India Limited announced its latest expansion initiative with the Bank of India. This expansion drive also focused on enhancing banking literacy in India.
With this initiative, it was estimated that about 1 lakh customers would be served daily, providing them with essential banking services. This effort aimed to foster financial inclusion among those segments of society that
had not been adequately served.
The partnership enabled the company to expand its operations into nearly 1,000 additional sub-service areas, aiming to reach a substantial number of customers in various regions.
On 29th July, the company entered into a Memorandum of Understanding (MoU) in Hyderabad, Telangana, with Bestvantage Technology India Private Limited.
The primary objective of the MoU was to leverage Bestvantage’s expertise in alternative investments and start-up verification to identify potential opportunities that aligned with Bartronics’ strategic goals.
Financials:
The company reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 72.6 percent, rising from Rs. 12 crores in Q1 FY24 to Rs. 13.6 crores in Q1 FY25.
During the same period, the company’s net profit rose from Rs. 0.46 crores to Rs. 0.9 crores, reflecting a growth of 95.7 percent YoY.
About the Company:
Incorporated in 1990, Bartronics India Limited is currently engaged in the business of providing solutions based on Bar Coding, one of the oldest Automatic Identification & Data Capture (AIDC) technologies.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
