The Piotroski score ranges from zero and nine representing nine parameters used to assess the strength and financial position of a company. It is used to determine the best-value stocks, with nine being the best and zero indicating the worst.
Here are four IT stocks with multibagger returns of up to 485 percent in one year with a high Piotroski score of up to 9.
Danlaw Technologies India Limited
With a Piotroski score of 7, the share price of the company in the morning trading session jumped by nearly 3.64 percent to Rs. 1,765 on March 27th, compared to its previous closing price of Rs. 1,702.95 and has a market cap of Rs. 847.5 crore.
Danlaw Technologies has delivered multibagger returns of about 150.9 percent in the past six months and nearly 292.2 percent in the last one year. So far, the company has given around 36.8 percent of positive returns in 2024.
On a quarter-on-quarter basis, the company witnessed a growth in net profit by 1.85 percent from Rs. 5.92 crore in Q2 FY23-24 to Rs. 6.03 crore in Q3 FY23-24.
Danlaw Technologies India, a wholly-owned subsidiary of Danlaw Technologies India Ltd., is in the business of providing engineering and software development consulting services for industrial electronics.
DTI was incorporated in the USA in September 2001 to market engineering and IT services to customers in the USA.
Ceinsys Tech Limited
With a market cap of Rs. 964.4 crores and a Piotroski score of 9, the share price of the company moved up by 3.74% on BSE to Rs. 605 on Wednesday, compared to its previous closing price of Rs. 583.15.
So far in 2024, Ceinsys Tech has delivered positive returns of around 51.2 percent. On the other hand, in the last six months, it has given multibagger returns of nearly 173.2 percent returns, and about 342.8 percent in the last one year.
The company’s revenue from operations grew by nearly 8.62% QoQ from Rs. 58 crore in Q2 FY23-24 to Rs. 63 crore in Q3 FY23-24, accompanied by an increase in net profit of 100% from Rs. 5 crore in Q2 FY23-24 to Rs. 10 crore in Q3 FY23-24.
Ceinsys Tech Limited is a technology-driven organization engaged in offering solutions in the Geospatial, Enterprise & Engineering and mobility services space for a global clientele.
ACE Software Exports Limited
The share price of the company fell by nearly 1.4% on BSE to Rs. 93.5 on March 27th, compared to its previous closing price of Rs. 94.9 and has a market cap of Rs. 43.53 crore.
With a Piotroski score of 7, ACE Software Exports has given multibagger returns of about 247.2 percent returns in the last six months, and nearly 484.3 percent in the last one year. So far in 2024, it delivered multibagger returns of around 115.7 percent.
In terms of financials, the company’s net profit increased by 524.4% from Rs. 0.45 crore in Q3 FY22-23 to Rs. 2.81 crore in Q3 FY23-24. However, the company’s revenue from operations fell by nearly 34.6% YoY from Rs. 3.2 crore in Q3 FY22-23 to Rs. 2.09 crore in Q3 FY23-24.
Founded in 1987, Ace Software Exports Ltd. is engaged in the business of software database creation and offers document management, digital publishing, and data conversion solutions through process engineering and cost-effective & flexible conversion systems.
Written by Shivani Singh
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