Micro-cap that provides Stock specialist full stack BI, Data Analytics and IT Services hits 2 percent upper circuit in the day’s trade after its board approves to set up joint venture with a german e-mobility major to build a unique transaction platform with various digital solutions for meeting the needs of zero-emission fleets in EV and Hydrogen mobility.
The shares of Goldstone Technologies Limited hit 2 percent upper circuit in the day’s trade, it was trading at Rs. 95.15 per share and its market capitalization is Rs. 326 Crores.
As per the company’s filing, the board of directors of Goldstone Technologies Limited has approved the agreement to set up joint venture company with a German e-mobility major, Quantron AG. Its main objective is to build a unique transaction platform with various digital solutions for meeting the needs of zero-emission fleets in EV and Hydrogen mobility.
The JV will develop Al-driven software solutions that can be used independently by the manufacturer (OEM), such as large fleet Customers and it also include services and sales functions for making third-party services available for Customers and any other Field as agreed by both JV partners mutually.
Quantron AG shall subscribe to 51,000 Shares of EUR 1 each at a total of EUR 51,000, representing 51.00 percent of the Share Capital of the Company and Goldstone Technologies Limited shall subscribe to 49,000 Shares, of EUR 1 each at a total of EUR 49,000.00, representing 49.00 percent of the Share Capital of the Company.
The company’s revenue grew 52.59 percent from Rs. 60.92 Crores in FY22 to Rs. 92.96 Crores in FY23, accompanied by decreasing profits of Rs. 0.51 Crores to Rs. 0.46 Crores.
It has reported a return on equity (ROE) of 0.67 percent and a return on capital employed (ROCE) of 2.97 percent, it is making decent returns on its equity and capital employed as it has turned profitable in the recent times.
Goldstone Technologies is a business intelligence and IT Services company, it provides specialist full stack BI, Data Analytics and IT Services for improving data planning, reducing costs and accelerating BI Adoption, enabling clients to greatly reduce time-to-value.
Written by: Bharath K.S
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