The shares of one of the largest integrated omni-channel payment solutions providers in India, jumped 12 percent in the day’s trade after it won an order from State Bank of India Limited for providing 1,350 ATM’s.
At 11:28 a.m the shares of AGS Transact Technologies Limited were trading at Rs. 66.05 up 7.40 percent from its previous day close price Rs. 61.50 and its market capitalization is Rs. 800 Crores.
As per the company’s filing, AGS Transact Technologies Limited has secured an order from State Bank of India, which is India’s largest PSU bank, for providing 1,350 ATM’s. SBI will strategically deploy the ‘AGS’ branded ATMs on a pan-India basis during FY24.
In addition to this, it has recently completion integration of 8,000 ATM/CRMs under its Managed Services portfolio, for Punjab National Bank and Union Bank of India. As of September 30, 2023, it has installed, managed, or maintained 77,658 ATMs/CRMs across 2,200 cities and towns in India.
The company’s revenue declined 5.68 percent from Rs. 1,771.87 Crores in FY22 to Rs. 1,671.27 Crores in FY23, accompanied by loss of Rs. 82.47 Crore to a profit of Rs. 36.96.
It has reported a return on equity (ROE) of 7.59 percent and a return on capital employed (ROCE) of 15.44 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 65.52 percent stake, the Domestic Institutional Investors hold 5.28 percent and the Foreign Institutional Investors (FII) hold 0.01 percent.
AGS Transact Technologies Limited is one of the largest integrated omni-channel payment solutions providers in India. It provides a wide range of customised products and services comprising ATM and CRM outsourcing, cash management and digital payment solutions, including merchant solutions, transaction processing services and mobile wallets.
Written by: Bharath K.S
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