The share of this IT company jumps 5% after the company fixed the record date for the issue of bonus shares in the ratio of 17:20. The stock is trading 12 percent away from its 53-week high.
With a market capitalization of Rs. 43.98 crores, the shares of Olatech Solutions Ltd started Monday’s trading session with a positive note at Rs. 199 compared to its previous close of Rs. 197. The share hit a 5 percent upper circuit at Rs. 207.15 apiece.
According to the company filing, Olatech Solutions Ltd has fixed Monday, November 20, 2023, as the record date to ascertain the eligibility of shareholders entitled to the issuance of bonus share equity shares of the company in the ratio of 17:20. Which means, the company would issue seventeen bonus share, for every twenty shares owned by the investors.
Looking at the financial statements, the revenue of the company increased by 153 percent from Rs. 2.11 crores during H2 FY23 to Rs. 5.34 crores in H1 FY24. On a contrasting note, the net profits declined by 31 percent from Rs. 70 lakhs to Rs. 48 lakhs during the same period.
Coming onto the important financial ratios, the return on equity increased from 23.85 percent during FY 21-22 to 39.46 percent IN FY 22-23. In addition, the return on capital employed increased from 32.08 percent to 53.03 percent during the same timeframe.
According to the latest shareholding pattern, the Promoters have a 62.85 percent stake in the company and the remaining 34.15 percent shares are with the Public or the Retail Investors.
The stock has given multi-bagger returns to its investors. In just 6 months the stock has given 120 percent returns. For example, if someone had invested Rs. 1 lakh six months ago in this company’s share then the value of these shares would be Rs 2.2 lakhs now.
Headquartered in Mumbai, Olatech Solutions Ltd was incorporated in the year 2014. The key offerings of the company include software solutions such as NOC tools, Network monitoring, management & analytics, AAA solutions for users and devices, Data Centre Infrastructure Management, ERP, CRM, Web development, ORM, Media buying, etc.
Written By Vaibhav Patil
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