Shares of this micro-cap stock engaged in providing consulting-led integrated financial services hit a 20 percent upper circuit following an increase in net profits of over 135 percent year-on-year and significant revenue growth as well.
Price Movement
The share price of Ajcon Global Services Ltd hit a 20 percent upper circuit to Rs.52.63 per share on Thursday’s trading session from its previous close of Rs.43.86 apiece. Over the past year, the share has generated returns of over 100 percent.
Financial Performance
Ajcon Global Services Ltd’s stock price has recently surged, primarily due to its strong financial performance, which includes significant growth in both net profits and operational revenue.
For the quarter ending September 2024, Ajcon Global Services Ltd reported consolidated revenue of Rs.5.89 crores, marking a notable 94 percent increase from Rs.3.03 crores in Q2 FY24. Compared to the previous quarter Q1 FY25, revenue rose by 32 percent, up from Rs.4.48 crores.
The company’s Profit After Tax (PAT) also demonstrated impressive growth, with a 135 percent year-over-year increase, reaching Rs.0.73 crores in Q2 FY25, compared to Rs.0.31 crores in the same quarter last year. Additionally, PAT improved by 109 percent from Rs.0.35 crores in Q1 FY25.
Key financial metrics further underscore Ajcon Global Services Ltd’s robust performance. The Price-to-Earnings (P/E) ratio is currently at 22.2. In terms of return ratios, company achieved a Return on Capital Employed (ROCE) of 7.06 percent and a Return on Equity (ROE) of 5.60 percent.
Services Offered
Ajcon Global Services Ltd offers a range of financial services, including equity research, investment advisory, portfolio management, and stock broking. The company also provides financial consultancy for corporate finance and wealth management solutions.
Shareholding Pattern
As of the September 2024 shareholding pattern, promoters hold a 65.84 percent stake in Ajcon Global Services Ltd, while retail investors own 33.30 percent and domestic institutional investors (DII) hold a minimal 0.85 percent stake.
Company Profile
Ajcon Global Services Limited (AGSL) is a leading financial services provider in India, offering a wide array of services across different sectors of the financial market.
Founded in 1986, the company has grown and transformed, originally operating as Ajmera Financials and Project Consultants Pvt. Ltd. before rebranding to its current name to better represent its expanded range of financial offerings.
Written by – Siddesh S Raskar
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